150 South Alvarado Street

Los Angeles, CA 90057

$2,275,000
Price
10
Beds
10
Baths
6,536 Sq. Ft.
$348 / Sq. Ft.
6,536
Sq. Ft.
$348
per Sq. Ft.

Description

Amazing Current Cap Rate of 7% and 10.4 GRM with 43% upside to 11% Cap Rate and 7.2 GRM on proforma! Now offered with Higher Rents and 2 New Vacancies. Value-Add 10-unit building with 4 Fully renovated units with permits and 2 upcoming vacancies that can be renovated and leased for $2,407 per month (Previous rents were only $808). Priced at only $227k/door and $348/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 189k/unit, 9.6% Cap Rate, and 8 GRM on Current...Amazing Current Cap Rate of 7% and 10.4 GRM with 43% upside to 11% Cap Rate and 7.2 GRM on proforma! Now offered with Higher Rents and 2 New Vacancies. Value-Add 10-unit building with 4 Fully renovated units with permits and 2 upcoming vacancies that can be renovated and leased for $2,407 per month (Previous rents were only $808). Priced at only $227k/door and $348/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 189k/unit, 9.6% Cap Rate, and 8 GRM on Current with upside to 13.6% Cap Rate and 6 GRM on Proforma after ADUs. All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 4 units have been fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
  1. Listed by Armin Soleimani • DRE #01846872 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.
  2. Listed by Julio Ruiz • DRE #01911261 • Brokerage DRE #01911261 • Global Platinum Properties, Inc.

Property Details for 150 South Alvarado Street

Zoning
LAC2
Parcel Number
5154006009
Total Units
10.0
Living Area
6536
Source Living Area
Vendor Enhanced
Area
Downtown L.A. (C42)
Vacancy Rate
0
Lot Size Area
6388
LISTING UPDATED: 09/24/2024 12:01 AM

Property Details for 150 South Alvarado Street

StatusActive
MLS #24-440959
Days on Market15
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1954
Lot Size0.15 AC / 6,388 SF
CountyLos Angeles County

Building Information for 150 South Alvarado Street

Stories2Residences-Year Built1954Building Size-Lot Size0.15 AC / 6,388 SF

Property Information for 150 South Alvarado Street

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Garden
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: $211,591
  • Net Operating Income: $159,542.00
  • Gross Income: $218,136
  • Cap Rate: 7.01%
  • Gross Rent Multiplier: $10.40
  • Total Annual Expense: 52049
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1461
  • Lot Size Square Feet: 6388
Parking Details
Parking Details
  • Parking Garage: Attached
  • Total Parking: 8
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Ceiling Fan
  • Heating Type: Wall Electric
  • Flooring: Laminate, Ceramic Tile
  • Equipment: Refrigerator
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-17-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,407.00
  • Unit Actual Rent: $808.00
  • Unit Projected Rent: $2,407.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,407.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $2,407.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,407.00
  • Unit Actual Rent: $2,007.00
  • Unit Projected Rent: $2,407.00
  • Like Units: 2
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,407.00
  • Unit Actual Rent: $2,118.00
  • Unit Projected Rent: $2,407.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,407.00
  • Unit Actual Rent: $2,177.00
  • Unit Projected Rent: $2,407.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,407.00
  • Unit Actual Rent: $633.00
  • Unit Projected Rent: $2,407.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $379,521.00
  • Assessed Improvement Percent: 66.07
  • Assessed Land Value: $194,883.00
  • Assessed Land Percent: 33.93
  • Assessed Total Value: $574,404.00

Property History for 150 South 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 150 South Alvarado Street

Taxable ValueLand$1,144,440Additions$240,492Total$1,384,932
Tax Record2023$17,572 ($1,464 / month)
Home Facts
Total Finished SqFt6,536 SqFtAbove Grade Finished SqFt6,536 SqFtLot Size6,388 SqFtStyleMulti-Family Res (5+ Units)ZoningLAC2CountyLOS ANGELESAPN5154-006-009

Schools near 150 South Alvarado Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Union Avenue Elementary School
PublicK to 5

Sal Castro Middle School
Public6 to 8

Academic Leadership Community School
Public9 to 12

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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150 South Alvarado Street is a multi-family home for sale in Los Angeles, CA 90057. This property was listed for sale on September 16, 2024 by Global Platinum Properties, Inc., it's currently listed at $2,275,000. It has been on the market for a total of 15 days and was last sold on February 17, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Union Avenue Elementary School, Sal Castro Middle School and Contreras Learning Center-School Of Social Justice. 150 South Alvarado Street is a 10-bed, 10-bath, 6,536 sqft multi-family home built in 1954.

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 Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261

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.