500 West Alondra Boulevard
500 West Alondra Boulevard
Closed 12/23/20
Closed 12/23/20
Description
• 500 W Alondra Blvd Los Angeles 90248 (New Address)
• 16101 S Figueroa St Los Angeles 90248 (Former Address)
• Southwest Corner of Alondra...This project is Fully RTI, Shovel Ready! Best priced RTI development deal in L. A. There are NO linkage fees (grandfathered), so permits are 200K instead of 500K. Most L. A. projects are not grandfathered from linkage fees. Every return on investment metric shot way higher now that the price has gone from 3M to 1.75M! Fast Close Wanted! 36-Unit Apartment Entitlement
• 500 W Alondra Blvd Los Angeles 90248 (New Address)
• 16101 S Figueroa St Los Angeles 90248 (Former Address)
• Southwest Corner of Alondra and Figueroa (L. A. City Proper, not in Gardena)
• APN: 6120-023-033 (Proposed Building Site)
• APN: 6120-023-034 (Park and Picnic Site; small strip of land)
• Lot Size: 20,366 SF (19,417 SF + 949 SF)
• Units: 36, All 3 Bed, 2 Bath
• Market Units: 33
• Restricted Units: 3 (VLI Rent as Part of CA Bonus Density Program)
• Residential Stories: 4 (Staggered 2 to 4 stories)
• Parking Levels: 2
• Parking Stalls: 54
• Building Size: 36,000 SF roughly
• Roof Deck: 6300 SF roughly
• Expenditures Already paid over 800K including Sewer Fee
• Market Rent $2735 (33x) – Matches L. A. Section 8 Amount (2020)
• Restricted Rent $914 (3x) – Allowable Rent by HUD (2019)
• Gross Annual Rent: $1,115,964 (100% Occupancy)
• Annual Expenses Total: $200,195
• Net Operating Income $915,769 (98.5% Occupancy)
• Cost of Construction: $8M Estimated
• Equity: 9.55M
• Equity Percentage: 50% Roughly
• Market Value of New Building: $19.3M Estimated (4.75% Cap Rate)
- Listed by Bret Lewis • DRE #01872524 • Brokerage DRE #01872524 • Bret Lewis, Broker
Property Details for 500 West Alondra Boulevard
Location
Sold By Keller Williams Realty-Studio City, Behrouz Lavi, DRE #01482721
Property Details for 500 West Alondra Boulevard
| Status | Closed |
|---|---|
| MLS # | PW20190216 |
| Days on Market | 74 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Land |
| MLS Type | Land Lot |
| Year Built | - |
| Lot Size | 0.47 AC |
| County | Los Angeles County |
Location
Sold By Keller Williams Realty-Studio City, Behrouz Lavi, DRE #01482721
Building Information for 500 West Alondra Boulevard
Payment Calculator
$9,278 per month
30 year fixed, 7.25% Interest
$9,278
—
$0
Property Information for 500 West Alondra Boulevard
- Financing: Cash
- Tax Census Tract: 2912.10
- Community Features: Curbs, Gutters, Sidewalks, Urban
- Distance To Water: 0
- Additional Parcels Description: 6120-023-033, 6120-023-034
- Lot Features: Corner Lot, Lot 20000-39999 Sqft, Yard
- Current Use Comments: 36 Unit Apartment Project RTI
- Possible Use Comments: 36 Unit Apartment Project RTI
- Land Lease: No
- Land Lease Type: Fee
- Sewer: Public Sewer
- Water Source: Cistern, Public
- Carport Spaces: 0
Schools near 500 West Alondra Boulevard
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Charter - | 6 to 12 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Gardena Elementary School PublicK to 5 | ||
New Designs Charter School-Watts Charter6 to 12 | ||
Gardena Senior High School Public9 to 12 | ||
Moneta Continuation School Public9 to 12 |
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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Listing Courtesy of Bret Lewis, Broker, Bret Lewis, DRE #01872524
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.