• Asking Price $3,975,000
  • Estimated Value: $4,969,656

  • HOT 1435 ALVARADO TER LOS ANGELES, CA 90006

  • 1 Bed 2 Baths 16,047 SqFt
  • Townhouse or Condo / Resale (MLS)
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Property Details for 1435 ALVARADO TER, LOS ANGELES, CA 90006

Features

  • Price/sqft: $247
  • Lot Size: 7505
  • Total Units: 30
  • Total Rooms: 3
  • Room List: Bedroom 1, Bathroom 1, Bathroom 2
  • Stories: 300
  • Roof Type: Roll Composition
  • Heating: Forced air unit
  • Construction Type: Wood
  • Exterior Walls: Stucco

Facts

  • Year Built: 01/01/1912
  • Property ID: 868486560
  • MLS Number: SR24057452
  • Parcel Number: 5135-003-014
  • Property Type: Townhouse or Condo
  • County: LOS ANGELES
  • Listing Status: Active

Sale Type

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

Description

This listing is NOT a foreclosure. Presenting 1435 Alvarado Terrace in Los Angeles. This 30-unit apartment building is a value-add property with a 100%+ upside in rents in the high-demand Pico Union rental market area 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. New Electrical Sub-Panels have been installed, 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 beautiful 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.nnThe 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.nnLocated 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. nnThe building is located within walking distance of shopping, schools, restaurants, and the beautiful Terrace Park. This location is located 2 miles from DTLA, LA Live, Crypto.com Arena, and downtown attractions.

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Bargain Price Bargain Buy - Save Over 20% The Asking Price for this home is at least 20% below the Estimated Value. Buying a home at a price below the market value can save thousands of dollars and create wealth in home equity faster.

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Property Brokerage: Burts & Associates 5124 Vesper Ave. Sherman Oaks CA 91403
Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


All information provided is deemed reliable, but is not guaranteed and should be independently verified.

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