415 S Alvarado St

Los Angeles, CA, 90057

$7,990,000

$7,990,000
Active
Active
 - For Sale
property_type
Land
We are proud to exclusively present for sale a portfolio of four adjacent properties with tremendous redevelopment potential just north of MacArthur Park. Currently consisting of a 16 Unit Apartment Building, a Duplex, an SFR (Vacant, In Demolition) and Boarding House that was converted to six SRO units, the four properties boast a combined 30,250 SF of land, 30,000 SF of C2-1 & 250 SF of R4-2 TOC Tier 3, Opportunity Zone land. OPTION 1: Keep Existing 16 Unit as Value-Add Play & Develop 22,500 SF of C2-1, TOC TIER 3, Opportunity Zone Land into 97 Units or 103 Affordable Units. OPTION 2: Develop all 4 adjacent parcels, 30,000 SF of C2-1 & 250 SF of R4-2, TOC TIER 3, Opportunity Zone Land into 128 units or 137 Affordable Units. ZONING: - No Overlay Zones (no CDO, no CPIO overlay requirements). - No Historical Issues. - No Specific Plan Requirements. LOCATION: - Distance to Metro Station: 1 block / 6 minute walk. - Centrally located: 7 minute drive or 9 minute Metro ride to Downtown Los Angeles & 30 minute drive to Santa Monica. - Alvarado Street is a major corridor with unparalleled visibility will ensure speedy lease-up of units. Listing Includes 4 APNs and 4 Addresses: 415, 417, 419 & 427 S. Alvarado St., Los Angeles, CA 90057. 5154-031-004, 5154-031-005 & 5154-031-006, 5154-031-016.
MLS® ID:
22-199856
Listed:
9/13/22
Updated:
9/29/22

Exterior/Building Features

Lot Size
0.69 acres lot

Other Property Details

Garage
No
Parking
N
View
Y
County
Los Angeles
Pool
No
Zoning
C2-1 Tier 3

 

Courtesy of Dario Svidler, Keller Williams Beverly Hills

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Rory Posin shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 9/29/22

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