128 N Alvarado ST new

Los Angeles,CA 90026

$ 1030000

6 Beds

5 Baths

3080 SqFt


Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,080 sqft

Price per Sqft $334

MLS Listing ID 24456611

Bedrooms 6

HOA Y/N No

Year Built 1918

Lot Size 4,599 Sqft

Acres 0.1056

Property Description

We are pleased to present the opportunity to acquire 128 North Alvarado Street, a four-unit apartment community in the center of some of the most desired neighborhoods in Los Angeles. The property borders the densely populated neighborhoods of Echo Park and Koreatown and is only ten minutes from Downtown Los Angeles. The property's infill location and rental upside offers an investor immediate value-add potential. Situated on a 4,601 square foot parcel, the property features a well balanced unit-mix, consisting of one studio, one, one-bedroom/one-bath, one two-bedroom/one-bath, and one three-bedroom/two-bath. There have been a number of recent upgrades to select units including updated HVAC, plumbing, & electrical upgrades as well as a new furnace, new dual pane windows, and new kitchen cabinets. Current ownership has invested nearly $80,000 into capital improvements over the last 18 months. The two-story building also features four parking spaces with gated entry. The subject property's location has demonstrated meaningful appreciation in both the single family home market and the rental market as Angelenos continue to move into the region and find a shortage of housing options. With a slim development pipeline in the immediate vicinity, this supply/demand balance should promote strong rent growth over the long term.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LAR4

Interior

Fireplace No

Exterior

Garage None

Parking Type None

Total Parking Spaces 4

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5157021012

Special Listing Condition Standard

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