1435 Alvarado Terrace
1435 Alvarado Terrace
$3,975,000
1
30
16,047
16,047
$248
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.
- 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 Total0
Private PoolNo
Cooling TypeWall/Window
Total Units30.0
Building TypeAttached
Lot Size SourceAssessor
Living Area16047
Location
LISTING UPDATED: 03/21/2024 10:28 PM
Property Details for 1435 Alvarado Terrace
Status | Active |
---|---|
MLS # | SR24057452 |
Days on Market | 38 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1912 |
County | Los Angeles County |
Location
Building Information for 1435 Alvarado Terrace
Building/Complex1435 Alvarado TerFloor-Stories3Residences-Pet Policy-Year Built1912Building Size-
Payment Calculator
$25,546 per month
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Property Information for 1435 Alvarado Terrace
Property History for 1435 Alvarado Terrace
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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.
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