Mixed-Use Apartment Building with
For Sale
Contact for pricing
721-729 S Alvarado St, Los Angeles, CA 90057
24 renovated studio apartments plus 11 ground-floor commercial spaces and 7 parking spaces.
Property Size13,386 SF
Price / SF$295.08
Days on Market50
Property Features for 721-729 S Alvarado St
General Information
Standard status
Active
Size
13,386 SF
Total Parking Spaces
7
Property subtype
Multifamily, Mixed Use
Zoning
LAC2 (C2-2)
Occupancy
88%
Investment Type
Value Add
Net Operating Income
$285,082
Units
Unit Mix
24 x studio
Multifamily Units
24
Additional Details
Gross Income
$626,378
Building Details
Year Built
1920
Year Renovated
2018
Buildings
2
Units
35
Tenancy
Multi
Listing Agency:
Altman Apartments
Listed By:
Logan Altman · License #01965826
(310) 903-0222
Source:
Crexi
Added: Jul 27
Changed: Sep 7
Last Checked: Sep 13 at 7:01AM
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 Altman Apartments
Investment Insights
Based on property information with market context.
Alvarado Apartments is a mixed-use property with 24 renovated residential studio units and 11 ground-floor commercial spaces for a total of 35 units. The ground-floor mix includes two restaurants, retail bays, and storage.
The property is located at 721-729 S Alvarado St in Los Angeles, California. It includes 7 rentable parking spaces and was built in 1920.
With its combination of studio housing and ground-floor retail, the building offers an integrated residential and commercial setup designed to support multiple streams of occupancy.
The property is located at 721-729 S Alvarado St in Los Angeles, California. It includes 7 rentable parking spaces and was built in 1920.
With its combination of studio housing and ground-floor retail, the building offers an integrated residential and commercial setup designed to support multiple streams of occupancy.
Key Highlights
- 24 renovated studio apartments in a 35 total‑unit mixed‑use building
- 11 ground‑floor commercial spaces including two restaurants, retail bays and storage
- 7 rentable parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$271,067
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,421,340
$5.4M
Cap Rate 7%
$3,872,386
$3.9M
Cap Rate 9%
$3,011,856
$3.0M
Market Conditions
NOI Build-Up for 13,386 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$481.9K $36.00/SF
− Vacancy
−$48.2K −$3.60/SF
EGI
$433.7K $32.40/SF
− OpEx
−$162.6K −$12.15/SF
NOI
$271.1K $20.25/SF
Area
Los Angeles, CA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,421,340
Cap Rate 7%
$3,872,386
Cap Rate 9%
$3,011,856
Alternative Uses
Best Use
Apartment 5plus
$236.66M
$207.07M – $276.10M
NOI $16,565,899 @ 7.0% cap · market cap 419.39%
Second Best
Mixed Use
$3.87M
$3.39M – $4.52M
NOI $271,067 @ 7.0% cap · market cap 6.86%
Theoretical Best
Multifamily LT 5
$271.19M
$237.29M – $316.39M
NOI $18,983,463 @ 7.0% cap · market cap 480.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
5,696
Businesses Nearby
Explore this area
Business Placement
Demographics for 90057, CA
45,510
Population
17,912
Households
2.5
Avg Household Size
35
Median Age
23%
College-Educated
58%
High-School Grad
0.9 sq mi
ZIP Area
50,567
Density / Sq Mi
$44,876
Median Household Income
$30,849
Median Earnings
$1,395
Median Rent
$694,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - 24 renovated studio apartments plus 11 ground-floor commercial spaces and 7 parking spaces.
Where is this mixed-use property located?
The property is located at 721-729 S Alvarado St Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 24 renovated studio apartments in a 35 total‑unit mixed‑use building; 11 ground‑floor commercial spaces including two restaurants, retail bays and storage; 7 rentable parking spaces
