600 Alvarado StLos Angeles, CA 90026

Property Details for 600 Alvarado St

Year built

1939

Lot size

0.09 AC

Property size (Sq ft)

2,960 SF

Zone code

LACM

Property type

Auto shops

APN

5404-011-029

APU

5404011029

Description

This exceptional 62-unit apartment building presents a compelling investment opportunity in the vibrant Echo Park neighborhood of Los Angeles, CA. Situated on over 25,769 square feet of land encompassing eight contiguous parcels, this six-story building boasts 61,860 square feet of total space, with 46,186 square feet of net rentable area. The property includes 59 parking spaces and is zoned CM-1VL CR-1VL RD2-1VL / HILLSIDE AREA TOC Tier 1 / with alley access. Currently, plans for the 62 units are ready to issue (RTI) permits. The asking price is $5,890,000, translating to $228.57 per square foot. This prime location offers easy access to major freeways (110, 101, 5, and 2), placing residents within minutes of Silver Lake, Griffith Park, and Downtown Los Angeles. Echo Park's thriving atmosphere, characterized by its hip coffee shops, boutiques, music venues, bars, and restaurants, attracts a young, creative demographic. The strong local demographics, including an average housing unit value exceeding $1 million within a one-mile radius and a projected 7% population growth over the next five years, further solidify this investment's potential. The low-maintenance design and ease of management contribute to its overall appeal. APN: 5404-011-007 and 5404011 027 thru -033. This is a rare opportunity to acquire a substantial multifamily property in a highly sought-after Los Angeles neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $1,283,418

  6.5%

  $1,184,693

  7%

  $1,100,072

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,418,442

  Geo Method

  $1,418,442

• Alternative Use

  Use

  Valuation

  Residential

  $999,333

  Hospitality

  $915,384

  Educational

  $761,589

  Medical

  $787,781

  Retail

  $1,184,693

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0729

Longitude

-118.266

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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