Newer Roof & Electrical | 5.8% CAP | 10.9 GRM 1311-1315 N Allesandro St 6 Unit Apartment Building $2,195,000 ($365,833/Unit) 5.80% Cap Rate Los Angeles, CA 90026

Marcus & Millichap is pleased to announce the opportunity to purchase 1311 N Allesandro Street, a six-unit multifamily property located in the trendy Echo Park neighborhood of Los Angeles, CA. Situated near the intersection of Sunset Boulevard and Alvarado Street, the property affords residents convenient access to Echo Park Lake, Silver Lake, and the trendy boutiques, bars, and eateries along this revitalized stretch of Sunset Boulevard. The Walk Score of 97 is a testament to how accessible these nearby amenities are, as the property earned the highest-tier classification of “Walker’s Paradise.”
All units have been completely remodeled to include new electric subpanels, mini-split HVAC systems, stone countertops, stainless steel appliances, new cabinets, new windows, and new flooring. The apartment building and both garages received new roofs in 2021, while portions of the electrical and plumbing systems have also been upgraded in recent years. The hilltop location grants tenants outstanding views of Downtown Los Angeles and Echo Park. Front and rear garages allow parking space for eight vehicles, a rare and valuable amenity in this dense rental market.
Dodger Stadium, home of the back-to-back World Series champions, sits just 1.5 miles east of the property, while Downtown Los Angeles is less than two miles away as well. With LA Live and the neighboring Crypto.com Arena, Los Angeles Convention Center, and nearby Los Angeles Coliseum scheduled to host events in the 2028 Summer Olympics, the entire local area stands to benefit from upcoming infrastructure improvements and an influx of capital to the area.