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$ 3,950,000
Est. payment | /mo
0.27 Acres Lot
$ 3,950,000
Est. payment | /mo
0.27 Acres Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26162857
HOA Y/N No
Year Built 1923
Annual Tax Amount $49,375
Lot Size 0.269 Acres
Property Sub-Type Mixed Use
Property Description
Alvarado Apartments - a 35-unit mixed-use value-add in the heart of Westlake / MacArthur Park, comprising 24 residential units (23 studios + 1 one-bedroom) and 11 ground-floor commercial spaces including two restaurants and retail. Fully repiped and rewired in 2018 with fire sprinklers throughout. Offered at $3,950,000, an 8.92% in-place cap rate on the buyer's reassessed tax basis. Designated Residential Hotel on C2-2 zoning with a Transit Oriented Communities and State Density Bonus path to substantial added density. On-site parking, ground-floor retail income, and steps to the Metro B/D lines. Meaningful upside through studio mark-to-market, parking lease-up and Section 8 / HACLA-supported income. Buyer to verify all figures, unit legality, square footage and development potential.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAC2
Interior
Fireplace No
Laundry Common Area
Exterior
Present Use Multi-Family
Building
Lot Description Near Public Transit
Story 3
Water Public
Others
Tax ID 5141018017
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Logan Altman Altman Apartments LLC 310-903-0222, DRE #01965826
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