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 Market95
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
Site & Location
Neighborhood
Westlake
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: Oct 25
Last Checked: Oct 28 at 8:49AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$271,067
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
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
