427 S Alvarado St - Apartments FOR SALE


Los Angeles, CA 90057- MacArthur Park
$1,895,000 USD
310-279-7779
427 S Alvarado St, Los Angeles, CA for Sale
$1,895,000 USD
Apartments - FOR SALE
1/9
null | 6.13% Cap Rate

427 S Alvarado St
Los Angeles, CA 90057
MacArthur Park


HIGHLIGHTS

  • Strong Unit Mix - All Units are One-Bedroom Units with One Studio Unit
  • Low $172/SF and $118,438/Unit at the Asking Price
  • North of a 6% CAP Rate and 8.4 GRM at the Asking Price
  • Over 60% Upside in Rents
  • Ownership Installed New Electrical and New Roof Overlay
  • Exceptionally High 94 Walk Score, Designated as a “Walker’s Paradise” with an Array of Retail, and Dining Option Nearby the Property

OVERVIEW

Sean Nami is proud to present his new exclusive listing, 427 South Alvarado Street, a 16-unit apartment community in the Westlake sub-market. The property gives new ownership a unique and strong investment opportunity that will yield a high return when taking over the building, but also features over 60% upside in rents. The offering also features an impressive unit mix with 15 out of the 16 units being large one-bedroom apartments. The property is priced attractively at a low $172 per square foot and $118,438 per unit, while presenting a rare chance to acquire the property with north of a 6% CAP rate and an 8.4 GRM at the asking price. Centrally located near entertainment districts and within walking distance of the Westlake/MacArthur Park Metro Rail Line, this property offers unmatched convenience and accessibility for tenants and residents. With a terrific 94 Walk Score, the building is designated as a “Walker’s Paradise,” surrounded by a diverse array of retail and dining options, making it a highly convenient location for tenants. This high cash-flow investment is perfectly positioned in a thriving urban area, providing long-term growth potential for any investor.

FOR SALE DETAILS

PRICE

$1,895,000 USD

PRICE/SF

$173 USD /SF

# OF UNITS

16

PRICE/UNIT

$118,438

CAP RATE

6.13%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1909

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

C2-1 TOC Tier 3

APN/PARCEL ID

5154-031-016

ASK ABOUT THIS PROPERTY

Sean NamiLyon Stahl Investment Real EstateMore Info
310-279-7779

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

Sean NamiLyon Stahl Investment Real EstateMore Info
310-279-7779

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