320 S Alvarado Street

Description

We are pleased to present 320 S Alvarado Street, a 35-unit multifamily investment opportunity located in the Westlake submarket of Los Angeles, just south of 3rd Street and two blocks from MacArthur Park. The property features a desirable unit mix consisting of three bachelor units, 29 singles, and three one-bedroom units, catering to strong rental demand in the area. Significant value-add opportunity with the majority of units rented below market, offering approximately 32% rental upside as units turn. Attractive basis with the property offered at $98,571 per unit and $190 per square foot, well below replacement cost for a centrally located Los Angeles asset. The property is within one mile of the Metro AE Rail Lines and steps from multiple Metro Local bus lines along S Alvarado Street. Proximity to major retailers and daily-needs amenities, including The Home Depot, Superior Grocers, Starbucks, and a variety of dining and service options along6th Street and 3rd Street. Strategically located with quick access to Downtown Los Angeles, Koreatown, and Hollywood, and close proximity to major lifestyle and employment drivers such as MacArthur Park, Echo Park, LA Live, and Dodger Stadium.