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$1,030,000
Est. payment /mo
6 Beds
5 Baths
3,080 SqFt
UPDATED:
12/05/2024 05:15 AM
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
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
Parking Features 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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Listed by Sean Rosenzweig • Marcus & Millichap