1435 Alvarado Terrace

Los Angeles, CA 90006

$3,975,000
Price
1
Beds
30
Baths
16,047 Sq. Ft.
$248 / Sq. Ft.
16,047
Sq. Ft.
$248
per Sq. Ft.

Description

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...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. The property will be delivered with significant upside potential but will provide the new owner with significant upside potential. When the long-term tenant’s 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 beautiful Terrace Park. This location is located 2 miles from DTLA, LA Live, Crypto.com Arena, and downtown attractions.
  1. Listed by Cynthia Burts • DRE #01134271 • Brokerage DRE #01134271 • Burts & Associates • 310-308-8003

Property Details for 1435 Alvarado Terrace

View
City Lights, Neighborhood
Parking Spaces Total
0
Private Pool
No
Cooling Type
Wall/Window
Total Units
30.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
16047

Location

Listing Courtesy of Burts & Associates, Cynthia Burts, DRE #01134271
Add your commute
LISTING UPDATED: 03/21/2024 10:28 PM

Property Details for 1435 Alvarado Terrace

StatusActive
MLS #SR24057452
Days on Market38
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1912
CountyLos Angeles County

Location

Listing Courtesy of Burts & Associates, Cynthia Burts, DRE #01134271
Add your commute

Building Information for 1435 Alvarado Terrace

Building/Complex1435 Alvarado TerFloor-Stories3Residences-Pet Policy-Year Built1912Building Size-

Payment Calculator

$25,546 per month

30 year fixed, 7.25% Interest

Principal and Interest

$21,693

Property Taxes

$3,853

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1435 Alvarado Terrace

Income / Expense / Tax Details
Income Details
  • Gross Income: $360,339
  • Gross Scheduled Income: $365,856
  • Vacancy Allowance: 7317
  • Vacancy Allowance Rate: 2
  • Gross Operating Income: $360,339
  • Net Operating Income: $156,614
  • Laundry Income: $1,800
  • Gross Multiplier: 10.86
  • Cap Rate: 3.94
Expense Details
  • Operating Expense: $203,725
  • Operating Expense Percent: 56.00%
  • New Taxes Expense: $51,675
  • Gardener Expense: $1,204
  • Fuel Expense: $6,955
  • Licenses Expense: $7,515
  • Pest Control Expense: $1,302
  • Electric Expense: $3,200
  • Insurance Expense: $22,703
  • Maintenance Expense: $40,179
  • Professional Management Expense: $16,000
  • Other Expense: $1,292
  • Other Expense Description: LAHD
  • Trash Expense: $4,800
  • Water Sewer Expense: $22,000
  • Total Expenses: $203,725
Tax / Assessment Info
  • Tax Block: B
  • Tax Tract Number: MB ...
  • Tax Census Tract: 2243.10
  • CFD/Mello-Roos Fee: $2,194
  • Tax Lot: 36
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights, Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Dryer Included, Washer Included
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
  • Flooring: Tile, Wood
Exterior Features
  • Roof: Flat
  • Entry Location: Front
  • View Description: City Lights
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Garden, Rectangular Lot
  • Number Of Units: 30
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Three Or More
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Available, Sewer Available, Water Available
  • Electric: Electricity Available, Sewer Available, Water Available
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage: On street
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Street
Unit Information
Unit 1
  • Unit Type Units Total: 6
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $20,063
  • Unit Type Total Rent: $20,063
  • Unit Type Pro Forma: 33600
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 24
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $6,225
  • Unit Type Total Rent: $6,225
  • Unit Type Pro Forma: 11700
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 31
  • Number Of Separate Gas Meters: 31
  • Number Of Separate Water Meters: 1

Property History for 1435 Alvarado Terrace

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1435 Alvarado Terrace

Taxable ValueLand$2,197,570Additions$1,474,081Total$3,671,651
Tax Record2023$46,232 ($3,853 / month)
Home Facts
Total Finished SqFt16,047 SqFtAbove Grade Finished SqFt16,047 SqFtLot Size7,505 SqFtStyleMulti-Family Res (5+ Units)Year Built1912ZoningLARD1.5CountyLOS ANGELESAPN5135-003-014

Schools near 1435 Alvarado Terrace

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 5
Rating
School
Distance
Magnolia Avenue Elementary School
PublicK to 5

Berendo Middle School
Public6 to 8

West Adams Preparatory High School
Public9 to 12

Equitas Academy Charter School
CharterK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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1435 Alvarado Terrace is a multi-family home for sale in Los Angeles, CA 90006. This property was listed for sale on March 20, 2024 by Burts & Associates, it's currently listed at $3,975,000. It has been on the market for a total of 38 days and was last sold on October 21, 2016. This listing's school district is Los Angeles Unified School District. Nearby schools include Magnolia Avenue Elementary School, Berendo Middle School and West Adams Preparatory High School. 1435 Alvarado Terrace is a 1-bed, 30-bath, 16,047 sqft multi-family home built in 1912.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Burts & Associates, Cynthia Burts, DRE #01134271

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.