427 S Alvarado St, Los Angeles, CA 90057

Overview

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• Address: 427 S Alvarado Street, Los Angeles, CA
• Property Type: Multifamily Apartment Community
• Year Built: 1909
• Total Units: 16
• Unit Mix:
  • 15 One-Bedroom Units
  • 1 Studio Unit
• Stories: 3

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Neighborhood Overview

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Location: Westlake, Los Angeles
Proximity: Just west of Downtown Los Angeles

The Westlake neighborhood is a vibrant and diverse community that offers a perfect blend of urban convenience and residential appeal. Its strategic location just outside Downtown Los Angeles makes it an attractive area for multifamily development and investment.

Transportation Access:
Westlake is well-served by public transportation, which is a critical factor for today’s renters. The neighborhood boasts multiple Metro bus lines, providing easy access to various parts of the city. Additionally, the proximity to the Metro Red and Purple Lines offers residents quick commutes to key employment centers, cultural hotspots, and entertainment options in Downtown LA. This high reliance on public transit alleviates the need for extensive parking infrastructure, making it easier for property owners to maximize their investment potential.

Local Amenities:
The area is rich in amenities that enhance the quality of life for residents. Within walking distance, tenants can access grocery stores, a variety of dining options, schools, and healthcare facilities. Nearby recreational spaces, such as MacArthur Park and Echo Park Lake, provide opportunities for outdoor activities and relaxation. The presence of these amenities not only improves the living experience for current residents but also attracts potential tenants seeking a well-rounded urban lifestyle.

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Investment Highlights

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This property offers several compelling investment features:

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• Annual Rental Increase: Expect a 6% annual increase, ensuring a steady growth in rental income.
• Rental Upside Potential: With an 80% rental upside, investors have the opportunity to enhance revenue through strategic management and updates.
• Vacant Unit: One unit is delivered vacant, providing an immediate opportunity for new tenants and increased cash flow.

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Property Features

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• Total Units: 16
• Unit Mix:
  • 15 One-Bedroom Apartments
  • 1 Studio Apartment
• Building Condition and Upgrades:
  • Recent upgrades include a new water heater installed in 2023, a new roof overlay completed in 2023, and a new electrical main panel added in 2024. These improvements not only enhance the property’s functionality but also contribute to its overall value, making it a desirable option for prospective tenants.

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Accessibility:
The property’s location provides easy access to public transportation, making it ideal for tenants who rely on transit for their daily commutes. Additionally, its proximity to major employers in Downtown Los Angeles ensures that residents can enjoy both convenience and a vibrant lifestyle. The walkable neighborhood is filled with numerous amenities, further enhancing its attractiveness to potential renters.

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For Los Angeles apartment building owners and investors, 427 S Alvarado Street represents a unique opportunity to acquire a well-located multifamily asset in a rapidly evolving neighborhood. With its attractive unit mix, significant rental upside, and recent upgrades, this property is poised for long-term success.

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Investing in multifamily properties in Westlake not only supports the growth of a vibrant community but also positions investors to benefit from the increasing demand for urban living in Los Angeles.

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For more information and to schedule a viewing, please reach out to:

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Taylor Avakian
Founder, The Group CRE
First Vice President, Lyon Stahl