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/with an amazing Current Cap Rate of 7% and 10.6 GRM with 43%upside to 11% Cap Rate and 7.2 GRM on proforma. Plus, there are fully approved RTI plans to add 2 attached ADUs to improve the number 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 ADUpotential. 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 fromEcho 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.
Property Details
Price:
$2,275,000
MLS #:
24440959
Status:
Active
Baths:
0
Address:
150 S Alvarado Street
Type:
Residential Income
Neighborhood:
c42downtownla
City:
Los Angeles
Listed Date:
Sep 16, 2024
State:
CA
ZIP:
90057
Lot Size:
6,388 sqft / 0.15 acres (approx)
Year Built:
1954
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Schools
Interior
Appliances
Refrigerator
Flooring
Laminate
Exterior
Parking Spots
8.00
Stories Total
2
Financial
Map
Community
- Address150 S Alvarado Street Los Angeles CA
- AreaC42 – Downtown L.A.
- CityLos Angeles
- CountyLos Angeles
- Zip Code90057
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Courtesy of Global Platinum Properties, Inc.. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
150 S Alvarado Street
Los Angeles, CA
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