150 S Alvarado Street, Los Angeles, CA 90057
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Listed Price :
$2,200,000
-
Beds :
10
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Baths :
10
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Property Size :
6,536 sqft
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Year Built :
1954
Property Description
Amazing Current Cap Rate of 7.3% and 10 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 $220k/door and $336/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 183k/unit, 10% Cap Rate, and 7.7 GRM on Current with upside to 14% Cap Rate and 5.8 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.
Interior Features
| Bedroom Information |
| Bedrooms |
10 |
| Bathroom Information |
| Bathrooms |
10 |
| Flooring Information |
| Material |
Laminate |
Listing Information
| Address |
150 S Alvarado Street |
| City |
Los Angeles |
| State |
CA |
| Zip |
90057 |
| County |
Los Angeles |
| Listing Agent |
Armin Soleimani DRE #01846872 |
| Co-Listing Agent |
Julio Ruiz DRE #01911261 |
| Courtesy Of |
Global Platinum Properties, Inc. |
| List Price |
$2,200,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
6,536 |
| Lot Size |
6,388 |
| Year Built |
1954 |
Listing information courtesy of: Armin Soleimani, Julio Ruiz, Global Platinum Properties, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 10th, 2024 at 12:19 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
