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721-729 S Alvarado St
Los Angeles, CA 90057
Alvarado Apartments – Westlake Mixed-Use · Multifamily Property For Sale
·
35 Units
Investment Highlights
- 35 units: 24 residential + 11 retail/commercial bays
- TOC + State Density Bonus path to 54 apartments
- Steps from MacArthur Park Metro (B/D lines)
- 8.93% in-place cap on $352,580 NOI
- 2018 full repipe & rewire — low-capex hold
Executive Summary
PRICE IMPROVEMENT — now $3,950,000, reduced $300,000. Alvarado Apartments is a 35-unit mixed-use asset in Westlake / MacArthur Park, Los Angeles — 24 renovated residential units over 11 ground-floor retail and commercial spaces — offered at an 8.93% in-place cap rate on $352,580 of net operating income.
DEVELOPMENT UPSIDE: A C2-2 transit-adjacent lot with a TOC + State Density Bonus entitlement pathway (per DLA Piper analysis) to as many as 54 apartment units, versus 24 residential units today — a rare densification play atop in-place cash flow.
DIVERSIFIED, DURABLE INCOME: 24 residential units over 11 retail/commercial bays produce a stable, all-charges rent roll with income diversified across two tenant bases.
2018 SYSTEMS MODERNIZATION: Full repipe and rewire completed in 2018 — a low-capex, turn-key hold.
IRREPLACEABLE TRANSIT-RICH LOCATION: Steps from the MacArthur Park Metro station (B/D lines), minutes west of Downtown Los Angeles in one of the city's densest rental submarkets.
Offered individually or as part of a 7-asset Central-LA portfolio. Full OM, proforma, T-12 and rent roll available. Full co-broke offered.
DEVELOPMENT UPSIDE: A C2-2 transit-adjacent lot with a TOC + State Density Bonus entitlement pathway (per DLA Piper analysis) to as many as 54 apartment units, versus 24 residential units today — a rare densification play atop in-place cash flow.
DIVERSIFIED, DURABLE INCOME: 24 residential units over 11 retail/commercial bays produce a stable, all-charges rent roll with income diversified across two tenant bases.
2018 SYSTEMS MODERNIZATION: Full repipe and rewire completed in 2018 — a low-capex, turn-key hold.
IRREPLACEABLE TRANSIT-RICH LOCATION: Steps from the MacArthur Park Metro station (B/D lines), minutes west of Downtown Los Angeles in one of the city's densest rental submarkets.
Offered individually or as part of a 7-asset Central-LA portfolio. Full OM, proforma, T-12 and rent roll available. Full co-broke offered.
Property Facts
| Price Per Unit | $155,623 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 8.93% | Building Size | 13,386 SF |
| Gross Rent Multiplier | 6.11 | Average Occupancy | 88% |
| No. Units | 35 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1923/2018 |
| Property Subtype | Apartment | Parking Ratio | 0.75/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | C2-2, Los Angeles - C2-2; TOC-4; ZI-2374 State Enterprise Zone: Los Angeles | ||
| Price Per Unit | $155,623 CAD |
| Sale Type | Investment |
| Cap Rate | 8.93% |
| Gross Rent Multiplier | 6.11 |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 13,386 SF |
| Average Occupancy | 88% |
| No. Stories | 3 |
| Year Built/Renovated | 1923/2018 |
| Parking Ratio | 0.75/1,000 SF |
| Zoning | C2-2, Los Angeles - C2-2; TOC-4; ZI-2374 State Enterprise Zone: Los Angeles |
Amenities
Unit Amenities
- High Speed Internet Access
Site Amenities
- Fenced Lot
- Security System
- On-Site Retail
- Community-Wide WiFi
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 23 | - | 200 - 284 |
| 1+1 | 12 | - | 500 |
Property Taxes
| Parcel Number | 5141-018-017 | Improvements Assessment | $1,003,498 CAD |
| Land Assessment | $3,345,010 CAD | Total Assessment | $4,348,508 CAD |
Property Taxes
Parcel Number
5141-018-017
Land Assessment
$3,345,010 CAD
Improvements Assessment
$1,003,498 CAD
Total Assessment
$4,348,508 CAD
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