$3,975,000 Price Analysis   ♡   Los Angeles, CA 90006 6 bed 30 bath 16,047 SqFt ($247/SqFt) 7,507SqFt lot. Built 1912 Listed 2024-03-22, Taxes $44,134 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Presenting 1435 Alvarado Terrace in Los Angeles.
* Sale Pending *This 30-unit apartment building is a value-add property with a 100%+ upside in rents in the high-demand Pico Union rental market are a of Los Angeles. This value-added opportunity provides investors to acquire a well-located, well-maintained, professionally managed apartment building. The building has been consistently upgraded with recent major improvements that include new exterior paint including the steel hand railings. Pristine Electrical Sub-Panels have been installd and a new 4-inch waste-line and runs 200 feet from the building to the street. Fifteen of the units have been recently remodeled and upgraded with new paint, new kitchens, new countertops, new fixtures, new blinds, ceiling fans, hardwood and tile flooring. There is attractive hardwood flooring throughout all the building's hallways and stairs. The units have large new windows making the 9-foot ceiling units bright and welcoming.
The front entry door has an intercom-controlled gate and the building features many security cameras that can be remotely viewed 24 hours a day. It has an on-site laundry facility with a new water heater for the tenants. The building is separately metered for gas and electricity. The property will be delivered with significant upside potential but will provide the new owner with significant upside potential. When the long-term tenants turnover, the new owner will enjoy a large increase in rental income and be able to renovate the units to increase the value of those units. Located on the ground floor of the building is a large multi-room area that could be a large potential ADU unit or a large Owner/User Management office. The building was constructed in 1912 and is a 30-unit 16.047 square foot building on a 7, 505 square foot [Q]RD1.5-1 zoned lot. There is an excellent unit mix of six one-bedroom units and twenty-six studio units. The building is located within walking distance of shopping, schools, restaurants and the attractive Terrace Park. This location is located 2 miles from DTLA, LA Live, Crypto.com Arena and downtown attractions.
Presented by Cynthia Burts at
Burts & Associates.
Property MLS #SR24057452 from CRMLS
Heating Features: Wall Furnace
Heating: Yes
Lot Size Acres: 0.172337
Lot Size Source: Assessor
Lot Size Square Feet: 7507
Bedrooms in Unit-1: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Maintenance Expense: 40179.00
County: Los Angeles
Cap Rate: 3.94
Other Expense: 1292.00
Source Property Type: Residential Income
Insurance Expense: 22703.00
Area: C42 - Downtown L.A.
Source Neighborhood: C42 - Downtown L.A.
New Taxes Expense: 51675.00
Number of Separate Electric Meters: 31
Number of Separate Gas Meters: 31
Number of Separate Water Meters: 1
Parcel Number: 5135003014
Pest Control Expense: 1302.00
Postal Code Plus 4: 5055
Professional Management Expense: 16000.00
Trash Expense: 4800.00
Zoning: LARD1.5
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,438,143 + $2,154,481 $3,592,624 | $44,134 |
| 2021 | $1,409,945 + $2,112,237 $3,522,182 | $43,531 |
| 2020 | $1,395,488 + $2,090,579 $3,486,067 | $43,962 |
| 2019 | $1,368,126 + $2,049,588 $3,417,714 | $42,258 |
| 2018 | $1,341,300 + $2,009,400 $3,350,700 | $42,134 |
| 2017 | $1,315,000 + $1,970,000 $3,285,000 | $41,196 |
| 2016 | $1,180,509 + $787,005 $1,967,514 | $25,214 |
| 2015 | $1,162,777 + $775,184 $1,937,961 | $24,866 |
| 2014 | $521,230 + $1,200,411 $1,721,641 | $22,964 |
| 2013 | $540,987 + $811,488 $1,352,475 | $18,503 |
| 2012 | $530,380 + $795,577 $1,325,957 | $18,747 |
| 2010 | $519,981 + $779,978 $1,299,959 | $18,445 |
| 2009 | $517,322 + $775,989 $1,293,311 | $17,793 |
| 2009 | $516,095 + $774,149 $1,290,244 | $17,793 |
| 2008 | $507,179 + $760,774 $1,267,953 | $17,096 |
| 2007 | $497,235 + $745,857 $1,243,092 | $16,504 |
$3,975,000
CRMLS
Sold 2016-11-04
$3,285,000
Public Record
Listing removed 2016-08-31
$1,275
VFlyer
Listing removed 2016-08-31
$1,025
VFlyer
Listed for rent 2016-08-23
$1,275
VFlyer
Listing removed 2016-08-17
$1,275
VFlyer
Listed for rent 2016-08-16
$1,025
VFlyer
Listed for rent 2016-07-27
$1,275
VFlyer
Listing removed 2016-07-19
$995
VFlyer
Listing removed 2016-07-05
$995
RadPad
Price Changed for rent 2016-06-17
$995
RadPad
Listed for rent 2016-06-14
$950
RadPad
Listed for rent 2016-06-14
$995
VFlyer
Listing removed 2015-12-29
$950
RadPad
Listing removed 2015-12-28
$950
VFlyer
Listed for rent 2015-12-15
$950
VFlyer
Listed for rent 2015-11-10
$950
RadPad
Listing removed 2015-09-09
$950
VFlyer
Listing removed 2015-09-09
$950
RadPad
Listed for rent 2015-09-03
$950
VFlyer
Listed for rent 2015-09-02
$950
RadPad
Listing removed 2015-08-20
$950
VFlyer
Listing removed 2015-08-20
$950
RadPad
Price Changed for rent 2015-06-23
$950
VFlyer
Price Changed for rent 2015-06-23
$950
RadPad
Price Changed for rent 2015-06-16
$895
VFlyer
Price Changed for rent 2015-06-16
$895
RadPad
Price Changed for rent 2015-06-09
$950
VFlyer
Price Changed for rent 2015-06-09
$950
RadPad
Price Changed for rent 2015-05-19
$895
VFlyer
Price Changed for rent 2015-05-19
$895
RadPad
Listed for rent 2015-05-03
$950
VFlyer
Listed for rent 2015-05-03
$950
RadPad
Listing removed 2014-10-21
$850
RadPad
Listing removed 2014-10-20
$850
VFlyer
Listed for rent 2014-08-28
$850
VFlyer
Listed for rent 2014-08-27
$850
RadPad
Listing removed 2014-08-21
$850
RadPad
Listing removed 2014-08-21
$850
VFlyer
Listed for rent 2014-08-01
$850
VFlyer
Listed for rent 2014-08-01
$850
RadPad
Listing removed 2014-07-04
$795
RadPad
Listing removed 2014-07-04
$795
VFlyer
Listing removed 2014-07-03
$795
VFlyer
Listing removed 2014-07-03
$1,175
RadPad
Listed for rent 2014-06-29
$795
VFlyer
Listed for rent 2014-06-28
$1,175
RadPad
Listed for rent 2014-05-20
$795
RadPad
Listing removed 2014-05-09
$795
WestsideRentals
Listed for rent 2014-03-28
$795
WestsideRentals
Listed for rent 2014-03-26
$795
VFlyer
Sold 2014-02-28
$1,900,500
Public Record
Sold 1988-02-19
$700,000
Public Record
Year Built: 1912
Building Features: 1
Common Walls: 2+ Common Walls
Entry Level: 1
Entry Location: Front
Property Age: 112
Property Attached: Yes
Roof: Flat
Levels or Stories: Three Or More
Building Total Stories: 3
Structure Type: Apartment
Year Built Source: Assessor
Sewer: Sewer: Public Sewer, Water Sewer Expense: 22000.00
Electricity Available
Sewer Available
Water Available
Water Source: Public
Map directions Map directions Map directions Map directions
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |  |
 |  |  |  |
The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.