500-508 N Alexandria Ave - Apartments FOR SALE


Los Angeles, CA 90004- East Hollywood
$1,525,000 USD
818-219-6146
500-508 N Alexandria Ave, Los Angeles, CA for Sale
$1,525,000 USD
Apartments - FOR SALE
1/10
null | 5.52% Cap Rate

500-508 N Alexandria Ave
Los Angeles, CA 90004
East Hollywood


HIGHLIGHTS

  • Excellent Location Between Larchmont Village, Virgil Village, and Koreatown
  • Mostly Two-Bedroom Units
  • Value-Add Opportunity – Current Rents Approximately 23% Below Market Rates
  • Newly Constructed ADU Generates Additional Income Stream
  • Garage Parking for Select Units
  • Adjacent to Silver Lake, Echo Park, Sunset Junction, and Los Feliz

OVERVIEW

Marcus & Millichap is pleased to announce the opportunity to purchase 500-510 N Alexandria Avenue, a seven-unit multifamily property located in Los Angeles, CA. Nestled between the trendy Larchmont Village and Virgil Village neighborhoods, just north of bustling Koreatown, the property allows tenants convenient access to many of Los Angeles’ most recently improved areas. Silver Lake, Sunset Junction, and Echo Park are just east of the buildings, while the high-end Los Feliz neighborhood sits north of the property. A new ADU was completed in 2025, generating a substantial income stream by attracting higher-paying tenants with its brand new finishes. Garage parking for four vehicles is another rare amenity in this dense residential neighborhood that helps attract new tenants to the building. Neither building appears on the Los Angeles Department of Building and Safety’s seismic retrofit list (Buyer to verify), saving a new owner from what would otherwise be a costly capital expenditure. Residents enjoy convenient access to the 101 Freeway, while the Metro Red Line is accessible via the nearby Vermont/ Beverly station. 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

$1,525,000 USD

PRICE/SF

$350 USD /SF

# OF UNITS

7

PRICE/UNIT

$217,857

CAP RATE

5.52%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mostly 2 BR Units | Near Larchmont Village

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,557 SF

ZONING

R3, Los Angeles

APN/PARCEL ID

5520-009-026

ASK ABOUT THIS PROPERTY

Rick RaymundoMarcus and MillichapMore Info
818-219-6146

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

Rick RaymundoMarcus and MillichapMore Info
818-219-6146

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