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634-640 S Alvarado St 33,291 SF 10% Leased Retail Building Los Angeles, CA 90057 $4,500,000 ($135.17/SF)
Investment Highlights
- Rapid Transit Adjacent (TOC Tier 4)
- Very strong submarket with lots of residential redevelopment
- Low Retail Vacancies
Executive Summary
Westlake Theatre opened as a 1,949-seat venue on September 22, 1926. Although designed primarily as a motion picture theatre, the large stage also serves as a live entertainment venue. The raked floor has been leveled to house the current swap meet retail use, but can be removed if desired. Second floor office and street-level retail round out the current uses. The second floor office space has been renovated and is available to lease. All leases are month-to-month.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
33,291 SF
Building Class
C
Year Built
1925
Price
$4,500,000
Price Per SF
$135.17
Percent Leased
10%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.59
Lot Size
0.48 AC
Opportunity Zone
Yes
Zoning
LAC2, Los Angeles - C2-2 and C4-2; Tier 4 TOC
Frontage
116’ on Alvarado St
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (86)
Nearby Major Retailers
Property Taxes
| Parcel Number | 5141-001-037 | Improvements Assessment | $113,781 |
| Land Assessment | $2,161,873 | Total Assessment | $2,275,654 |
Property Taxes
Parcel Number
5141-001-037
Land Assessment
$2,161,873
Improvements Assessment
$113,781
Total Assessment
$2,275,654
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634-640 S Alvarado St
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