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515 S Alvarado St 22,603 SF 100% Leased Retail Building Los Angeles, CA 90057 $7,720,000 ($341.55/SF) 6.90% Cap Rate
Executive Summary
Prime Westlake / MacArthur Park Shopping Center one block north of 6th St. Historically full and anchored by the very first El Pollo Loco. Good mix of retail and some office tenants. Big 31k LAC2-1 zoned lot.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
22,603 SF
Building Class
B
Year Built
1979
Price
$7,720,000
Price Per SF
$341.55
Cap Rate
6.90%
NOI
$532,680
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.72
Lot Size
0.72 AC
Opportunity Zone
Yes
Zoning
LAC2 - Commercial - C1.5 Uses; Retail w/ Limited Manufacturing, Service Stations and Garages, Retail Contr. Business, Churches, Schools, Auto Sales, R4 Uses
Parking
56 Spaces (2.48 Spaces per 1,000 SF Leased)
Frontage
225’ on S Alvarado St
Amenities
- Bus Line
- Pylon Sign
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 5154-031-029 | Improvements Assessment | $1,706,742 |
| Land Assessment | $7,964,803 | Total Assessment | $9,671,545 |
Property Taxes
Parcel Number
5154-031-029
Land Assessment
$7,964,803
Improvements Assessment
$1,706,742
Total Assessment
$9,671,545
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515 S Alvarado St