1136 S Alvarado St

Los Angeles, CA 90006

$4,275,000
Last Sold Price
6
Beds
24
Baths
16,113 Sq. Ft.
$265 / Sq. Ft.
16,113
Sq. Ft.
$265
per Sq. Ft.

Description

A rare 24-unit value-add opportunity at 1136 S Alvarado St that will be delivered 100% vacant; the property, is located on the main thoroughfare between W 11th St & W Pico Blvd in the center of the Pico Union, Westlake, and Koreatown neighborhoods. The subject property consists of a desirable unit mix of 18 studios (approximately 400 SF) and six one-bedrooms (approximately 600 SF), and the building is individually metered for gas and electric. The property is being offered in as-is condition; this...A rare 24-unit value-add opportunity at 1136 S Alvarado St that will be delivered 100% vacant; the property, is located on the main thoroughfare between W 11th St & W Pico Blvd in the center of the Pico Union, Westlake, and Koreatown neighborhoods. The subject property consists of a desirable unit mix of 18 studios (approximately 400 SF) and six one-bedrooms (approximately 600 SF), and the building is individually metered for gas and electric. The property is being offered in as-is condition; this is an opportunity for a buyer to begin interior renovations immediately at the close of escrow with no tenant relocation required. At the asking price, the property is being offered for a low price per SF of $273. An investor has the potential to achieve a CAP rate of 6.26%-6.92% when projected rents are captured. Additionally, there is potential to add six ADU's to further increase the rental income (buyer to verify).1136 Alvarado St is located one mile from the Crypto.com Arena and Los Angeles Convention Center. The neighborhood boasts a high walk score of 93 with retail amenities on W Pico Blvd & S Hoover St; walking distance to numerous Metro rail and bus line stops make this an attractive central for moving around the via public transit or by car with quick access to the 110 and 10 Freeways. The subject property is in the middle of high-growth neighborhoods (Pico Union, Westlake, and Koreatown) where the rental market continues to thrive. The property can be sold with the adjacent lot (APN: 5136-019-023) totaling 9,381 SF zoned C2-1-HPOZin a Tier 2 TOC.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 1136 South Alvarado Street

Zoning
C2-1-HPOZ
Parcel Number
5136019013
Total Units
24.0
Living Area
16113
Source Living Area
Assessor
Area
Downtown L.A. (C42)
Vacancy Rate
100%
Lot Size Area
8282
LISTING UPDATED: 05/05/2023 09:43 AM

Property Details for 1136 South Alvarado Street

StatusSold
MLS #22-216241
Days on Market54
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1912
Lot Size0.19 AC / 8,282 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750

Sold By Marcus & Millichap, Neema Ahadian, DRE #01346750

Add your commute

Building Information for 1136 South Alvarado Street

Stories3Residences-Year Built1912Building Size-Lot Size0.19 AC / 8,282 SF

Payment Calculator

$22,567 per month

30 year fixed, 6.845% Interest

Principal and Interest

$22,398

Property Taxes

$169

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1136 South Alvarado Street

Community / Development
Community / Development
  • Number Of Units: 24
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Apartment
  • Security Features: Gated
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $425,505
  • Net Operating Income: $275,369.00
  • Gross Income: $447,900
  • Gross Scheduled Income: $447,900
  • Cap Rate: 6.26%
  • Gross Rent Multiplier: $9.82
  • Actual Annual Gross Rent: $446,400.00
  • Monthly GrossI Income: $37,325.00
  • Actual Rent Total: $37,200.00
  • Total Annual Expense: 150236
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1903
  • Lot Size Square Feet: 8282
Parking Details
Parking Details
  • Parking Garage: Garage Is Detached, Other
  • Total Parking: 0
  • Attached Garage: No
Interior Features
Interior Features
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
  • Laundry: Laundry Area
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 11-07-2022
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,500.00
  • Unit Actual Rent: $27,000.00
  • Unit Projected Rent: $28,800.00
  • Like Units: 18
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,700.00
  • Unit Actual Rent: $10,200.00
  • Unit Projected Rent: $11,100.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107

Property History for 1136 South Alvarado Street

DateEvent & SourcePriceAppreciation
May 5, 2023

Sold

CLAW #22-216241

$4,275,000—
Feb 6, 2023

Listed (Active)

CLAW #22-216241

$4,400,000—
Feb 2, 2023

Sold

CLAW #22-216241

$4,275,000—
Feb 2, 2023

Sold

CRMLS #22216241

$4,275,000—
Jan 6, 2023

Pending

CLAW #22-216241

—
Jan 5, 2023

Sold (Public Record)

Public Record #1504857591

$4,275,000

+217594.3% / yr

Jan 1, 2023

Expired

CRMLS #22216241

$4,400,000—
Dec 31, 2022

Expired

CLAW #22-216241

$4,400,000—
Nov 7, 2022

Listed (Active)

CLAW #22-216241

$4,400,000—
Nov 7, 2022

Listed (Active)

CRMLS #22216241

$4,400,000—
Oct 27, 2022

Sold (Public Record)

Public Record #1505917544

$980,000—
Dec 1, 2021

Expired

CRMLS #21759946

$3,450,000—
Nov 30, 2021

Expired

CLAW #21-759946

$3,450,000—
Aug 19, 2021

Price Change

CRMLS #21759946

$3,450,000—
Jul 14, 2021

Listed (Active)

CRMLS #21759946

$3,600,250—
Jul 14, 2021

Listed (Active)

CLAW #21-759946

$3,600,250—
Sep 17, 2015

Expired

CRMLS #15906479

—
Sep 16, 2015

Expired

CLAW #15-906479

$1—
Jul 6, 2015

Withdrawn / Cancelled

CRMLS #15906479

—
Jul 6, 2015

Expired

SDMLS #15906479

—
May 29, 2015

Price Change

CRMLS #15906479

$1—
May 29, 2015

Listed (Active)

CLAW #15-906479

$2,450,000—
May 29, 2015

Listed (Active)

CRMLS #15906479

$2,450,000—
May 16, 2015

Listed (Active)

SDMLS #15906479

$2,450,000—
DateEvent & SourcePrice
05/05/2023

Sold

CLAW #22-216241

$4,275,000
02/06/2023

Listed (Active)

CLAW #22-216241

$4,400,000
02/02/2023

Sold

CLAW #22-216241

$4,275,000
02/02/2023

Sold

CRMLS #22216241

$4,275,000
01/06/2023

Pending

CLAW #22-216241

—
01/05/2023

Sold (Public Record)

Public Record #1504857591

$4,275,000

+217594.3% / yr

01/01/2023

Expired

CRMLS #22216241

$4,400,000
12/31/2022

Expired

CLAW #22-216241

$4,400,000
11/07/2022

Listed (Active)

CLAW #22-216241

$4,400,000
11/07/2022

Listed (Active)

CRMLS #22216241

$4,400,000
10/27/2022

Sold (Public Record)

Public Record #1505917544

$980,000
12/01/2021

Expired

CRMLS #21759946

$3,450,000
11/30/2021

Expired

CLAW #21-759946

$3,450,000
08/19/2021

Price Change

CRMLS #21759946

$3,450,000
07/14/2021

Listed (Active)

CRMLS #21759946

$3,600,250
07/14/2021

Listed (Active)

CLAW #21-759946

$3,600,250
09/17/2015

Expired

CRMLS #15906479

—
09/16/2015

Expired

CLAW #15-906479

$1
07/06/2015

Withdrawn / Cancelled

CRMLS #15906479

—
07/06/2015

Expired

SDMLS #15906479

—
05/29/2015

Price Change

CRMLS #15906479

$1
05/29/2015

Listed (Active)

CLAW #15-906479

$2,450,000
05/29/2015

Listed (Active)

CRMLS #15906479

$2,450,000
05/16/2015

Listed (Active)

SDMLS #15906479

$2,450,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1136 South Alvarado Street

Taxable ValueLand$2,040,000Additions$2,325,800Total$4,365,800
Tax Record2024$2,032 ($169 / month)
Home Facts
Total Finished SqFt16,113 SqFtAbove Grade Finished SqFt16,113 SqFtLot Size8,282 SqFtStyleMulti-Family Res (5+ Units)Year Built1912ZoningLAC2CountyLOS ANGELESAPN5136-019-013

Schools near 1136 South Alvarado Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - 1 to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Tenth Street Elementary School
Public1 to 5

John H. Liechty Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.