150 S Alvarado Street Los Angeles, CA 90057
Amazing Current Cap Rate of 7% and 10.4 GRM with 43% upside to 11% Cap Rate and 7.2 GRM on proforma! Now offered with Higher Rents and 2 New Vacancies. Value-Add 10-unit building with 4 Fully renovated units with permits and 2 upcoming vacancies that can be renovated and leased for $2, 407 per month (Previous rents were only $808). Priced at only $227k/door and $348/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 189k/unit, 9.6% Cap Rate, and 8 GRM on Current with upside to 13.6% Cap Rate and 6 GRM on Proforma after ADUs. All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 4 units have been fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site12 Days
- MLS StatusActive
- MLS ID Number24440959
- Home Size Source N/A
- Year Built1954
- Lot Size0.1466 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Spaces 8
- Number of Stories 22
- Acreage 0.1466
- Attached Garage Yes
- Zoning LAC2
- Listing Conditions Standard
Interior Features
- Appliances Refrigerator
- Flooring Laminate
Community Features
- Senior Community No
- MLS Area C42 - Downtown L.A.