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$3,650,000
Est. payment /mo
33 Baths
18,195 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 18,195 sqft
Price per Sqft $200
MLS Listing ID 26636721
HOA Y/N No
Year Built 1927
Lot Size 7,927 Sqft
Property Description
We are pleased to present 320 S Alvarado Street, a 35-unit multifamily investment opportunity located in the Westlake submarket of Los Angeles, just south of 3rd Street and two blocks from MacArthur Park. The property features a desirable unit mix consisting of two bachelor units, 30 singles, and three one-bedroom units, catering to strong rental demand in the area. Significant value-add opportunity with the majority of units rented below market, offering approximately 32% rental upside as units turn. Attractive basis with the property offered at $104,286 per unit and $201 per square foot, well below replacement cost for a centrally located Los Angeles asset. The property is within one mile of the Metro AE Rail Lines and steps from multiple Metro Local bus lines along S Alvarado Street. Proximity to major retailers and daily-needs amenities, including The Home Depot, Superior Grocers, Starbucks, and a variety of dining and service options along6th Street and 3rd Street. Strategically located with quick access to Downtown Los Angeles, Koreatown, and Hollywood, and close proximity to major lifestyle and employment drivers such as MacArthur Park, Echo Park, LA Live, and Dodger Stadium.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAC2
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features None
Building
Story 3
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 5154028004
Special Listing Condition Standard
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Listed by Neema Ahadian Marcus & Millichap