128 North Alvarado Street

Los Angeles, CA 90026

$1,030,000
Price
6
Beds
5
Baths
3,080 Sq. Ft.
$334 / Sq. Ft.
3,080
Sq. Ft.
$334
per Sq. Ft.

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,...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.
  1. Listed by Sean Rosenzweig • DRE #01406343 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 128 North Alvarado Street

Zoning
LAR4
Parcel Number
5157021012
Total Units
4.0
Living Area
3080
Source Living Area
Assessor
Area
Silver Lake (671)
Vacancy Rate
0
Lot Size Area
4601
LISTING UPDATED: 11/01/2024 12:01 AM

Property Details for 128 North Alvarado Street

StatusActive
MLS #24-456611
Days on Market58
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1918
Lot Size0.11 AC / 4,601 SF
CountyLos Angeles County

Building Information for 128 North Alvarado Street

Stories2Residences-Year Built1918Building Size-Lot Size0.11 AC / 4,601 SF

Property Information for 128 North Alvarado Street

Community / Development
Community / Development
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $80,048
  • Net Operating Income: $52,908.00
  • Gross Income: $80,048
  • Cap Rate: 5.14%
  • Gross Rent Multiplier: $12.87
  • Total Annual Expense: 27139
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1057
  • Lot Size Square Feet: 4601
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 4
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Other
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 10-24-2024
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,544.00
  • Unit Actual Rent: $1,544.00
  • Unit Projected Rent: $3,200.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,632.00
  • Unit Actual Rent: $1,632.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,000.00
  • Unit Actual Rent: $2,000.00
  • Unit Projected Rent: $2,300.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,495.00
  • Unit Actual Rent: $1,495.00
  • Unit Projected Rent: $1,500.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $251,457.00
  • Assessed Improvement Percent: 23.49
  • Assessed Land Value: $819,235.00
  • Assessed Land Percent: 76.51
  • Assessed Total Value: $1,070,692.00

Property History for 128 North Alvarado Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 128 North Alvarado Street

Taxable ValueLand$835,619Additions$256,486Total$1,092,105
Tax Record2024$13,628 ($1,136 / month)
Home Facts
Total Finished SqFt3,080 SqFtAbove Grade Finished SqFt3,080 SqFtLot Size4,601 SqFtStyleQuadraplexYear Built1918ZoningLAR4CountyLOS ANGELESAPN5157-021-012

Schools near 128 North Alvarado Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 1
Public - 2 to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Lake Street Primary School
PublicK to 1

Rosemont Avenue Elementary School
Public2 to 5

Sal Castro 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.

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128 North Alvarado Street is a multi-family home for sale in Los Angeles, CA 90026. This property was listed for sale on October 24, 2024 by Marcus & Millichap, it's currently listed at $1,030,000. It has been on the market for a total of 58 days and was last sold on February 4, 2013. This listing's school district is Los Angeles Unified School District. Nearby schools include Lake Street Primary School, Rosemont Avenue Elementary School and Sal Castro Middle School. 128 North Alvarado Street is a 6-bed, 5-bath, 3,080 sqft multi-family home built in 1918.

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, Sean Rosenzweig, DRE #01406343

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.