1435 Alvarado Ter, Los Angeles, CA 90006
FOR SALE
Listed by Cynthia Burts, Burts & Associates, (310) 308-8003

1435 Alvarado Ter
Los Angeles, CA 90006

Pico-Union
  • 6 Beds
  • 30 Baths
  • 16,047 sqft
  • 6 Beds
  • 30 Baths
  • 16,047 sqft

$3,975,000

Est. Mortgage $25,139/mo*
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Local Information

map showing home location
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Commute Destination

Description

Presenting 1435 Alvarado Terrace in Los Angeles. This 30-unit apartment building is a value-add property with a 100%+ upside in rents in the high-demand Pico Union rental market area of Los Angeles. This value-added opportunity provides investors to acquire a well-located, well-maintained, professionally managed apartment building. The building has been consistently upgraded with recent major improvements that include new exterior paint including the steel hand railings. New Electrical Sub-Panels have been installed, and a new 4-inch waste-line and runs 200 feet from the building to the street. Fifteen of the units have been recently remodeled and upgraded with new paint, new kitchens, new countertops, new fixtures, new blinds, ceiling fans, hardwood, and tile flooring. There is beautiful hardwood flooring throughout all the building's hallways and stairs. The units have large new windows making the 9-foot ceiling units bright and welcoming. The front entry door has an intercom-controlled gate, and the building features many security cameras that can be remotely viewed 24 hours a day. It has an on-site laundry facility with a new water heater for the tenants. The building is separately metered for gas and electricity. The property will be delivered with significant upside potential but will provide the new owner with significant upside potential. When the long-term tenant’s turnover, the new owner will enjoy a large increase in rental income and be able to renovate the units to increase the value of those units. Located on the ground floor of the building is a large multi-room area that could be a large potential ADU unit or a large Owner/User Management office. The building was constructed in 1912 and is a 30-unit ±16.047 square foot building on a ±7,505 square foot [Q]RD1.5-1 zoned lot. There is an excellent unit mix of six one-bedroom units and twenty-six studio units. The building is located within walking distance of shopping, schools, restaurants, and the beautiful Terrace Park. This location is located 2 miles from DTLA, LA Live, Crypto.com Arena, and downtown attractions.

Home Highlights

Parking
Open Parking
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
$248
Listed
35 days ago

Home Details for 1435 Alvarado Ter

Interior Features

Beds & Baths
Number of Bedrooms: 6Number of Bathrooms: 30
Appliances & Utilities
Utilities: Electricity Available, Sewer Available, Water AvailableLaundry: Common Area
Heating & Cooling
Heating: Wall FurnaceHas CoolingAir Conditioning: Wall/Window Unit(s)Has HeatingHeating Fuel: Wall Furnace
Gas & Electric
No Electric on Property
Windows, Doors, Floors & Walls
Flooring: Tile, WoodCommon Walls: 2+ Common Walls
Levels, Entrance, & Accessibility
Stories: 3Number of Stories: 3Levels: Three Or MoreEntry Location: FrontFloors: Tile, Wood
View
Has a ViewView: City Lights, Neighborhood

Exterior Features

Exterior Home Features
Roof: FlatNo Private Pool
Parking & Garage
No CarportNo GarageHas Open ParkingParking: On Street
Pool
Pool: None
Frontage
Not on Waterfront
Water & Sewer
Sewer: Public Sewer
Surface & Elevation
Elevation Units: Feet

Days on Market

Days on Market: 35

Property Information

Year Built
Year Built: 1912
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Multi Family
Building
Not a New ConstructionAttached To Another StructureNo Additional Parcels
Property Information
Parcel Number: 5135003014

Price & Status

Price
List Price: $3,975,000Price Per Sqft: $248

Active Status

MLS Status: Active

Location

Direction & Address
City: Los Angeles

Agent Information

Listing Agent
Listing ID: SR24057452

Building

Building Area
Building Area: 16047 Square Feet

Community

Community Features: Curbs, Gutters, Sidewalks, Street Lights, SuburbanNot Senior Community

HOA

Association for this Listing: California Regional MLS

Lot Information

Lot Area: 7507 sqft

Listing Info

Special Conditions: Standard

Compensation

Buyer Agency Commission: 2.5Buyer Agency Commission Type: %
Notes
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed

Rental

No Rent Control

Miscellaneous

Mls Number: SR24057452Attribution Contact: 310-308-8003

Additional Information

CurbsGuttersSidewalksStreet LightsSuburban
Last check for updates: about 7 hours ago
Listing Provided by: Cynthia Burts DRE #01134271, (310) 308-8003
Burts & Associates
Originating MLS: California Regional MLS
Source: CRMLS, MLS#SR24057452

Price History for 1435 Alvarado Ter

DatePriceEventSource
03/22/2024$3,975,000Listed For SaleCRMLS #SR24057452

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Neighborhood Overview

Pico-Union
See Local Highlights
Neighborhood stats provided by third party data sources.

What Locals Say about Pico-Union

  • Trulia User
    "Not nearly enough parks or areas for dogs to socialize with other, and so much trash on the street sidewalks. The scarce grassy areas are covered in fleas. "
    0
    Flag
  • Trulia User
    "To be safe always and use areas that have good lighting and try to avoid having to run errands late . The skyline is very nice when you’re looking the street vendors have lots of good deals and options to support local business owners "
    1
    Flag
  • Trulia User
    "Terrible The traffic is terrible at certain times. I am looking to move closer to my job so that I don’t spend unnecessary time wasted in traffic. I believe that traffic is always bad during rush hours in the greater Los Angeles area "
    0
    Flag
  • Trulia User
    "There are not that many dog parks per neighborhood. So mainly it’s just side walks and regular parks. "
    0
    Flag
  • Trulia User
    "my area has great commute and I love it and I like to be around at least safe environment and I like how everything is "
    0
    Flag
  • Trulia User
    "been living in pico/union area since 2012 , is like every neighborhood. we have everything near restaurants , market , liquor store , busses , schools , clinics , hospital , gas stations , banks , ect. "
    1
    Flag
  • Trulia User
    "we have some good restaurants , stores , markets , schools , gas stations .. friendly neighbors .. this is a safe neighborhood .. been living in this neighborhood since 2012 .. "
    0
    Flag
  • Mr.144719036
    "neighborhood is good for walking , there a lot of business open late .. been living in this neighborhood since 2012 , never had any problems .. "
    1
    Flag
  • Carmen G.
    "No parks or grass area close to walk through . To many homeless people and drug addicted people asking for money "
    1
    Flag
  • Karla R. .
    "Nothing is special about this neighborhood everything is kind of dangerous and nothing is in good conditions but i just used to living here"
    0
    Flag
  • Mr.144719036
    "my neighborhood is safe , friendly people. I been living in this neighborhood since 2012 , I haven't had a problem. "
    1
    Flag
  • Mr.144719036
    "area is much better now , good neighbors , friendly , restaurants , laundry , liquor , bus stops , schools , car dealers .. "
    6
    Flag
  • Matrixalexandernavas
    "Keep your kids of the streets, keep the kids from hanging out with gangs in the neighborhood. It’s not a bad area "
    1
    Flag
  • Castillotroyarmy
    "Convince to DTLA Nightlife restaurants and freeway access (5/10/110/101/60 FWYS) USC and dodger stadium."
    4
    Flag
  • Ruthlane91o
    "To close to downtown, homeless, sirens, loud music, helicopters.. it’s just way to much. No parking for visitors of people who live here. Not kid friendly parks in neighborhood. "
    1
    Flag
  • Mr.144719036
    "friendly neighbor's , there all kinds of business , schools , restaurants , parks , public transportation .. "
    0
    Flag
  • Sandro.oliboni
    "one the ugli factor is that there are many homeless around tthe highway bridge but for the rest is fine"
    0
    Flag
  • Nikolai
    "Excellent location; Staples Center and LA live walking distance. We have been living in Pico Union for the past 3 years and noticing that the area is getting cleaned up. Definitely night and day compare to 10-15 years ago that for fact."
    5
    Flag
  • Derek S.
    "The diversity of people and it’s unique history. It’s close proximity to LA Live, Staples Center along with local mom and pop stores and restaurants makes it a unique neighborhood. The area has a lot of potential and will only get better/safer with time. "
    3
    Flag
  • spieringpaul
    "Vibrant, safe, convenient to park and lake, subway, Langer's deli, DTLA. Lot's of new developments in the area. Gentrification finally happening."
    4
    Flag
  • Tubanater123
    "this neighborhood is dangerous m I've lived here all my life and have seen it go downhill ever since. truly is a shame that it's so expensive and depressing "
    11
    Flag

LGBTQ Local Legal Protections

Cynthia Burts, Burts & Associates
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 2024-01-24 10:53:37 PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
1435 Alvarado Ter, Los Angeles, CA 90006 is a 6 bedroom, 30 bathroom, 16,047 sqft multi-family built in 1912. 1435 Alvarado Ter is located in Pico-Union, Los Angeles. This property is currently available for sale and was listed by CRMLS on Mar 22, 2024. The MLS # for this home is MLS# SR24057452.