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427 S Alvarado St, Los Angeles, CA 90057
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427 S Alvarado St Los Angeles, CA 90057

$1,995,000
  • 15 Beds
  • 16 Baths
  • 10,976 Sq.Ft.
For Sale
$1,995,000 Get Pre-Qualified
Map preview of 427 S Alvarado St, Los Angeles, CA 90057

Property Overview: 427 S Alvarado St Los Angeles, CA has 15 bedrooms, 16 bathrooms, 10,976 living square feet and 7,752 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Listed by Taylor Avakian | BRE #02060040 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 8 minutes ago | Last updated: September 17th, 2024 | Source CRMLS | DOM: 10

Home details

Lot Sq. Ft
7,752
HOA Dues
$0/mo
Year built
1909
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24437123
City
Los Angeles
County
Los Angeles
Time on Site
10 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 16
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,165
  • Total Rent: $1,165
  • Pro Forma/Market Rent: $1,600
Unit Breakdown 2
  • # of Units: 15
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,120
  • Total Rent: $16,790
  • Pro Forma/Market Rent: $31,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.28%
  • Gross Rent Multiplier: 9.26
  • Gross Scheduled Income: --
  • Net Operating Income: $108,275
  • Gross Operating Income: $209,000
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 427 S Alvarado St

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Property Details for 427 S Alvarado St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 16
  • Parcel Number: 5154031016
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Alvarado and 6th Street
View more facts & features

Local Los Angeles Agent

Sale History for 427 S Alvarado St

Last sold for $1,325,000 on February 23rd, 2021

  • September, 2024

  • Sep 9, 2024

    Date

    Active

    CRMLS: 24437123

    $1,995,000

    Price

  • February, 2023

  • Feb 2, 2023

    Date

    Expired

    CRMLS: 22214595

    $2,325,000

    Price

  • Nov 7, 2022

    Date

    Active

    CRMLS: 22214595

    $2,395,000

    Price

  • Listing provided courtesy of CRMLS

    Seeking a building with a 6.84 Proforma GRM and 74% rental upside priced at $212/sf and $145K/unit? Look no further! 427 S Alvarado St, a 16-unit multi-family building, provides a value-add investor with the potential to relocate tenants and renovate the property with a Proforma 9.92% CAP and Proforma 6.84GRM. Any investor will be hard pressed to find a similar opportunity within the heart of Los Angeles. The building consists of fifteen (15) one bedroom one bath units, plus one (1) studio unit, the majority of which are legacy tenants. Master metered for gas and electric, a new owner will have the ability to increase rents an additional 2% (1% for gas + 1% for electrical) above the standard increases allowed by LAHD/RSO. As of November 2022, all tenants except for one are current on rent. With its central location, tenants of 427 S Alvarado St enjoy easy access to DTLA (6 minutes away), Hollywood (14 minutes away), Silverlake (9 minutes), and USC (15 minutes). Additional benefits include being located within 2 blocks of the Metro Rail Subway Station and 1 block of MacArthur Park. The existing improvements sit on 7,750 sf of C2, Tier 3 TOC land with an Opportunity Zone designation. With the ability to purchase the adjacent 22,500 sf of land that is currently for sale, the properties provide a potential redevelopment of up to 137 units total.

  • January, 2023

  • Jan 2, 2023

    Date

    Expired

    CRMLS: 22200123

    $2,445,000

    Price

  • Sep 15, 2022

    Date

    Active

    CRMLS: 22200123

    $2,495,000

    Price

  • Listing provided courtesy of CRMLS

    REDUCED $50K! We are proud to present for sale a 16 Unit Apartment Building in the up and coming MacArthur Park / Westlake Area. High visibility Alvarado St. just a block away from MacArthur Park and the Metro Station, this property is central to all be it by car, foot or public transportation! 15 of the 16 units are 1+1 with the remaining unit being a studio. Tenants enjoy what Walk Score calls a Walker's Paradise with Excellent Transit, the Metro Station being about a six minute walk from the building. The C2-1 TOC Tier 3 Zoning in an Opportunity Zone allows for keeping the income while holding the property as a land-bank for future redevelopmentor buy it along with the three neighboring properties as part of the Alvarado Assemblage. Bought with the neighboring 3 lots, a Developer can build 128 units or 137 Affordable Units. No Overlay Zones, No Historical Issues, No Specific Plan. Centrally located: 7 minute drive or 9 minute Metro ride to Downtown Los Angeles & 30 minute drive to Santa Monica. Alvarado Street is a major corridor with unparalleled visibility will ensure speedy lease-up of units.

  • February, 2021

  • Feb 23, 2021

    Date

    Sold (Public Records)

    Public Records

    $1,325,000

    Price

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Tax History for 427 S Alvarado St

Assessed Value (2020): $170,141
Year Land Value Improved Value Assessed Value
2020 $103,489 $66,652 $170,141

Home Value Compared to the Market

This property vs the competition

427 S Alvarado St is listed 66.25% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768 and this home is listed at $181.76 per/sqft which puts the price per square foot 76.33% lower than the median price per square foot for the city of Los Angeles.

About 427 S Alvarado St

Detailed summary of property

427 S Alvarado St is a multi family located in Los Angeles, CA 90057 and is currently for sale. This multi family property offers 15 bedrooms, 16 bathrooms, roughly 10,976 living square feet, and sits on an approximately 7,752 square foot lot. 427 S Alvarado St was first listed on ArdentRealEstateGroup.com on September 9, 2024. The homeowner is currently asking $1,995,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 66.25% higher than the median priced home. Local competing homes currently for sale include 942 Menlo Ave, 155 S Westmoreland Ave and 1215 Elden Ave. While the average home in Los Angeles, CA is selling in 106 days, 427 S Alvarado St has a days on market of 10 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 427 S Alvarado St Los Angeles, CA 90057 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 427 S Alvarado St

Public county record property details
Beds
--
Baths
16
Year built
--
Sq. Ft.
10,976
Lot Size
7,750
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
21,37
APN
5154-031-016

The source for these homes facts are from public records.

90057 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$575,000
Median List Price/Sq.Ft.
$531
Median Sold Price
$900,000
Median Sold Price/Sq.Ft.
$515
Total Inventory
16
Median Sale to List Price %
90.91%
Avg Days on Market
16
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (100%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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