176-178 S Alvarado St 9,265 SF Office Building Los Angeles, CA 90057 $3,732,749 CAD ($402.89 CAD/SF)

Exceptional owner-user opportunity offering approximately 13,000 SF of highly functional medical, behavioral health, and professional office space with 14–17 secure parking spaces in one of Los Angeles’ most centrally connected corridors. The property’s existing medical certification, elevator access, multiple restrooms, and flexible two-story layout allow for seamless occupancy by medical groups, behavioral health operators, outpatient clinics, doctor’s offices, legal practices, creative studios, nonprofits, educational uses, and professional service firms.
The building is fully vacant, delivering 100% owner-user occupancy on Day 1. Historically, the asset supported strong rental income: the prior ground-floor tenant (Professional Lawyers Group) leased the entire ±3,000 SF level plus half the parking for $10,000/month, and the former upstairs tenant (La Day & Guerra General Partnership) leased the full ±6,000 SF second floor for $15,000/month under standard commercial lease terms. Historical lease documents are available for buyer review upon request.
With C2-1 zoning and its position within a transit-rich corridor, the property also presents meaningful long-term upside for mixed-use or multifamily redevelopment, including potential TOC density bonuses. The efficient ±125’ × 52’ footprint, gated parking, dual entries, and elevator-served interior make this building uniquely adaptable for healthcare, medical, wellness, and behavioral health operations—including outpatient care, intensive outpatient (IOP), partial hospitalization (PHP), administrative offices, or supportive-service programmatic uses (buyer to verify all licensing requirements).
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Financial Overview — Pro Forma Only (Building Delivered Vacant)
The property will be delivered 100% vacant at close of escrow, allowing an owner-user or investor to occupy or reposition the building immediately. All financial figures referenced are pro forma estimates only, based on market rents for comparable medical, office, legal, and behavioral health facilities in the Westlake–Koreatown–DTLA corridor.
Under a stabilized lease-up scenario, the building may generate an estimated NOI of approximately $232,050, which reflects an estimated pro forma cap rate of ±8.6% at the $2,699,999 asking price. Historical leases indicate that previous tenants generated an estimated NOI of approximately $213,750, equating to an estimated historical cap rate of ±7.9% based on actual rents paid.
This information is provided solely for illustrative and informational purposes to demonstrate potential performance under market-supported assumptions. No income is currently being generated, and no representations or guarantees are made regarding future rents, tenant demand, operating expenses, redevelopment feasibility, or achievable cap rates. Buyer is solely responsible for verifying all income, expenses, market rents, zoning allowances, entitlement pathways, TOC eligibility, and overall financial feasibility.