1311-1315 N Allesandro St - Apartments FOR SALE


Los Angeles, CA 90026- Silver Lake
$2,195,000 USD
818-219-6146
1311-1315 N Allesandro St, Los Angeles, CA for Sale
$2,195,000 USD
Apartments - FOR SALE
1/21
null | 5.8% Cap Rate

1311-1315 N Allesandro St
Los Angeles, CA 90026
Silver Lake


HIGHLIGHTS

  • Excellent Echo Park Location – Blocks from Silver Lake, Sunset Boulevard, and Echo Park Lake
  • Attractive 5.80% Current CAP Rate and 10.96 GRM with Rent Upside
  • All Units Completely Upgraded with Top-of-the-Line Kitchens and Bathrooms, Mini-Split HVAC Systems, New Electric Subpanels, New Windows
  • New Pitched Roof in 2021, Upgraded Electrical in 2022, Partial Copper Plumbing
  • Not on LADBS Seismic Retrofit List (Buyer to Verify)
  • Walk Score of 97 – Among the Highest Scores in Entire Los Angeles Metro Area

OVERVIEW

Marcus & Millichap is pleased to announce the opportunity to purchase 1311 N Allesandro Street, a six-unit multifamily property located in the trendy Echo Park neighborhood of Los Angeles, CA. Situated near the intersection of Sunset Boulevard and Alvarado Street, the property affords residents convenient access to Echo Park Lake, Silver Lake, and the trendy boutiques, bars, and eateries along this revitalized stretch of Sunset Boulevard. The Walk Score of 97 is a testament to how accessible these nearby amenities are, as the property earned the highest-tier classification of “Walker’s Paradise.” All units have been completely remodeled to include new electric subpanels, mini-split HVAC systems, stone countertops, stainless steel appliances, new cabinets, new windows, and new flooring. The apartment building and both garages received new roofs in 2021, while portions of the electrical and plumbing systems have also been upgraded in recent years. The hilltop location grants tenants outstanding views of Downtown Los Angeles and Echo Park. Front and rear garages allow parking space for eight vehicles, a rare and valuable amenity in this dense rental market. Dodger Stadium, home of the back-to-back World Series champions, sits just 1.5 miles east of the property, while Downtown Los Angeles is less than two miles away as well. With LA Live and the neighboring Crypto.com Arena, Los Angeles Convention Center, and nearby Los Angeles Coliseum scheduled to host events in the 2028 Summer Olympics, the entire local area stands to benefit from upcoming infrastructure improvements and an influx of capital to the area.

FOR SALE DETAILS

PRICE

$2,195,000 USD

PRICE/SF

$532 USD /SF

# OF UNITS

6

PRICE/UNIT

$365,833

CAP RATE

5.8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Newer Roof & Electrical | 5.8% CAP | 10.9 GRM

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1942

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,741 SF

ZONING

RD2-1VL

APN/PARCEL ID

5424-026-024

ASK ABOUT THIS PROPERTY

Rick RaymundoMarcus and MillichapMore Info
818-219-6146

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Rick RaymundoMarcus and MillichapMore Info
818-219-6146

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.