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320 S Alvarado St 35 Unit Apartment Building $3,650,000 ($104,286/Unit) 5.76% Cap Rate Los Angeles, CA 90057
INVESTMENT HIGHLIGHTS
- The Neema Group of Marcus & Millichap is pleased to present 320 S Alvarado Street, a 35-unit multifamily investment opportunity
- Significant value-add opportunity with the majority of units rented below market, offering approximately 32% rental upside
- The property features a desirable unit mix consisting of two bachelor units, 30 singles, and three one-bedroom units
- Attractive basis with the property offered at $104,286 per unit and $201 per square foot
EXECUTIVE SUMMARY
The Neema Group of Marcus & Millichap is 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 two bachelor units, 30 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 $104,286 per unit and $201 per square foot, well below replacement cost for a centrally located Los Angeles asset.
Highly walkable location with a Walk Score of 95; the property is within one mile of the Metro A–E Rail Lines and steps from multiple Metro Local bus lines along S Alvarado
Street. Walking distance to major retailers and daily-needs amenities, including The Home Depot, Superior Grocers, Starbucks, and a variety of dining and service options along
6th 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.
The property features a desirable unit mix consisting of two bachelor units, 30 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 $104,286 per unit and $201 per square foot, well below replacement cost for a centrally located Los Angeles asset.
Highly walkable location with a Walk Score of 95; the property is within one mile of the Metro A–E Rail Lines and steps from multiple Metro Local bus lines along S Alvarado
Street. Walking distance to major retailers and daily-needs amenities, including The Home Depot, Superior Grocers, Starbucks, and a variety of dining and service options along
6th 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.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $104,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 5.76% | Building Size | 18,195 SF |
| Gross Rent Multiplier | 7.64 | Average Occupancy | 100% |
| No. Units | 35 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | C2-2, Los Angeles | ||
| Price | $3,650,000 |
| Price Per Unit | $104,286 |
| Sale Type | Investment |
| Cap Rate | 5.76% |
| Gross Rent Multiplier | 7.64 |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 18,195 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1927 |
| Opportunity Zone |
Yes |
| Zoning | C2-2, Los Angeles |
AMENITIES
UNIT AMENITIES
- Kitchen
- Hardwood Floors
- Oven
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 32 | - | 450 |
| 1+1 | 3 | - | 600 |
1 1
Walk Score®
Walker's Paradise (94)
Transit Score®
Excellent Transit (83)
PROPERTY TAXES
| Parcel Number | 5154-028-004 | Total Assessment | $724,264 |
| Land Assessment | $302,560 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $421,704 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
5154-028-004
Land Assessment
$302,560
Improvements Assessment
$421,704
Total Assessment
$724,264
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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320 S Alvarado St
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