Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Echo Park Development Opportunity Title is generated by Realmo AI

    616 N Alvarado, Los Angeles, CA 90026

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $695,000

    Tier 1 TOC development site in prime Echo Park location.

    Type:Land or Vacant Lot
    Lot size:
    0.13 Acres
    Added:
    Mar 27, 2026
    Days on Market:
    52
    Last Refresh:
    Mar 27 at 8:26 pm

    Property Features for 616 N Alvarado

    General Information

    Standard status
    Active
    Lot size
    0.13 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    MICAH HILLER

    Listing agent MICAH HILLER

    Listing office PRIME ROCK REALTY

    Listing date Mar 27, 2026

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of PRIME ROCK REALTY

    HighLights

    • Tier 1 TOC designation allows for increased density. Potential to develop up to approximately 20 units.
    • Prime Echo Park location near Echo Park Lake and Silver Lake, supporting strong rental demand.
    • Zoned CM/CR, offering a high‑yield multifamily development opportunity.
    • Property will be delivered vacant with no existing structures, eliminating demolition costs.
    • Ownership has secured a Letter of Determination for a smaller project, providing a clear path forward.
    • 5,863 SF site located along a highly active corridor surrounded by ongoing development and strong retail.

    Overview

    This 5,863 square foot site, zoned CM/CR, presents an exceptional Tier 1 Transit Oriented Communities (TOC) development opportunity in the heart of Echo Park. The property's TOC designation allows for increased density, with the potential to develop up to approximately 20 units; the buyer is responsible for verifying this potential. Ownership has secured a Letter of Determination for a smaller project, providing a clear path forward while preserving optionality for a larger-scale development. The property will be delivered vacant with no existing structures, eliminating demolition costs and allowing for a more efficient development timeline. The location is surrounded by ongoing development, creative office spaces, and strong retail and hospitality options. It is situated minutes from Echo Park Lake and The Echo, with close proximity to Silver Lake, supporting strong rental demand and long-term growth.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.26589
    Latitude
    34.07332

    Nearby Similar for Sale

    • $995,000
      2,947 SF

      Eagle Rock Multifamily Investment Opportunity

      Five units on a large lot in a desirable location.
      4401 Westdale Ave, Los Angeles, CA 90041
      View Details
    • $1,199,999
      2,526 SF

      Los Angeles Retail Opportunity

      Single-tenant retail asset with high visibility and growth potential.
      4254 Floral, Los Angeles, CA 90063
      View Details
    • $950,000
      3,040 SF

      Los Angeles Industrial Owner-User Opportunity

      Rare industrial building in central Los Angeles, ideal for owner-users.
      1915 S Santa Fe, Los Angeles, CA 90021
      View Details
    • $905,000
      3,372 SF

      Los Angeles Quadruplex with Development Potential

      Four-unit income property with development potential in Vermont Square.
      1467 W Vernon, Los Angeles, CA 90062
      View Details
    • $1,450,000
      3,040 SF

      East LA Commercial Investment Opportunity

      Fully leased 2-unit commercial building on high-traffic Whittier Blvd.
      5110 Whittier, Los Angeles, CA 90022
      View Details
    • $4,150,000
      5,356 SF

      Retail Property in Mar Vista

      Two attached commercial buildings in a high-traffic Los Angeles location.
      12513 Venice, Los Angeles, CA 90066
      View Details
    • $675,000

      Prime Development Land on Crenshaw

      Commercially zoned lot in Hyde Park with development potential.
      6216 Crenshaw Blvd, Los Angeles, CA 90043
      View Details
    • $2,075,000
      3,874 SF

      Hollywood Multifamily Investment Opportunity

      Seven-unit multifamily property in prime Hollywood location with upside potential.
      805 N Mccadden Pl, Los Angeles, CA 90038
      View Details
    • $1,529,000
      2,845 SF

      Los Angeles Triplex Investment Opportunity

      Fully occupied triplex near USC, Downtown LA, and Koreatown.
      1955 Bonsallo Ave, Los Angeles, CA 90007
      View Details
    • $750,000
      1,700 SF

      Functional Warehouse with Secure Yard

      Versatile warehouse with office, bathroom, and secure parking.
      4901 Telegraph Road, Los Angeles, CA 90022
      View Details
    • $900,000
      2,656 SF

      Renovated Duplex in South Los Angeles

      Turnkey duplex perfect for owner-users or investors.
      327 E Lanzit, Los Angeles, CA 90061
      View Details
    • $825,000
      2,640 SF

      Los Angeles Duplex with Billboard

      Well-maintained duplex with income from billboard lease in Los Angeles.
      10800 S San Pedro St, Los Angeles, CA 90061
      View Details

    FAQs

    What type of property is this?
    Commercial land - Tier 1 TOC development site in prime Echo Park location.
    Where is this commercial land located?
    The property is located at 616 N Alvarado Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: Tier 1 TOC designation allows for increased density. Potential to develop up to approximately 20 units.; Prime Echo Park location near Echo Park Lake and Silver Lake, supporting strong rental demand.; Zoned CM/CR, offering a high‑yield multifamily development opportunity.
    We can help!
    Listing Contact
    MICAH HILLER
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    616 N Alvarado, Los Angeles, CA 90026
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!