For Sale
1435 Alvarado, Los Angeles, CA 90006
1435 Alvarado, Los Angeles, CA 90006
  • $3,975,000
  • $248

Overview

Property ID: HZ16092915
  • Residential Income
  • Property Type
  • 0.00
  • Garage
  • 1912
  • Year Built

Description

Presenting 1435 Alvarado Terrace in Los Angeles. This 30-unit apartment building is a value-add property with a 100%+ upside in rents in the high-demand Pico Union rental market area of Los Angeles. This value-added opportunity provides investors to acquire a well-located, well-maintained, professionally managed apartment building. The building has been consistently upgraded with recent major improvements that include new exterior paint including the steel hand railings. New Electrical Sub-Panels have been installed, and a new 4-inch waste-line and runs 200 feet from the building to the street. Fifteen of the units have been recently remodeled and upgraded with new paint, new kitchens, new countertops, new fixtures, new blinds, ceiling fans, hardwood, and tile flooring. There is beautiful hardwood flooring throughout all the building’s hallways and stairs. The units have large new windows making the 9-foot ceiling units bright and welcoming. The front entry door has an intercom-controlled gate, and the building features many security cameras that can be remotely viewed 24 hours a day. It has an on-site laundry facility with a new water heater for the tenants. The building is separately metered for gas and electricity.

The property will be delivered with significant upside potential but will provide the new owner with significant upside potential. When the long-term tenant’s turnover, the new owner will enjoy a large increase in rental income and be able to renovate the units to increase the value of those units.

Located on the ground floor of the building is a large multi-room area that could be a large potential ADU unit or a large Owner/User Management office. The building was constructed in 1912 and is a 30-unit ±16.047 square foot building on a ±7,505 square foot [Q]RD1.5-1 zoned lot. There is an excellent unit mix of six one-bedroom units and twenty-six studio units.

The building is located within walking distance of shopping, schools, restaurants, and the beautiful Terrace Park. This location is located 2 miles from DTLA, LA Live, Crypto.com Arena, and downtown attractions.

  • Address 1435 Alvarado
  • City Los Angeles
  • State/county CA
  • Zip/Postal Code 90006
  • Area C42 - Downtown L.A.
  • Country United States

Details

Updated on May 15, 2024 at 6:00 pm
  • Property ID: HZ16092915
  • Price: $3,975,000
  • Land Area: 7507.00 Sqft
  • Garage: 0.00
  • Year Built: 1912
  • Property Type: Residential Income
  • Property Status: For Sale
  • Living Area: 16047.00
  • Living Area Prefix: Sqft
  • MLS#: SR24057452
  • Office Name: BURTS & ASSOCIATES
  • Agent Name: Cynthia Burts
  • MLS Status: Active
  • Agent State License: 01134271
  • IDX Contact Info: 310-308-8003

Additional details

  • Roof: Flat
  • View: City Lights,Neighborhood
  • Sewer: Public Sewer
  • Cooling: Wall/Window Unit(s)
  • Heating: Wall Furnace
  • Flooring: Tile,Wood
  • County: Los Angeles
  • Property SubType: Apartment
  • Parking: 0.00
  • Water Source: Public

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