Mixed-Use Apartment Building with
New
For Sale
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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$317.50
Days on Market5
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
Occupancy
97%
Units
Unit Mix
24 x studio
Multifamily Units
24
Additional Details
Gross Income
$626,378
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Altman Apartments
Listed By:
Logan Altman · License #01965826
Source:
Crexi
Added: Jul 27
Changed: Jul 30
Last Checked: Jul 30 at 6:16PM
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 For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $481.9k | $36.00 |
| − Vacancy | −$48.2k | −$3.60 |
| EGI | $433.7k | $32.40 |
| − OpEx | −$162.6k | −$12.15 |
| NOI | $271.1k | $20.25 |
13,386 SF · lease $36.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Apartment 5plus
$236.66M
$207.07M – $276.10M
NOI $16,565,899 @ 7.0% cap · market cap 389.79%
Second Best
Mixed Use
$3.87M
$3.39M – $4.52M
NOI $271,067 @ 7.0% cap · market cap 6.38%
Theoretical Best
Multifamily LT 5
$271.19M
$237.29M – $316.39M
NOI $18,983,463 @ 7.0% cap · market cap 446.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24
Residential units
97%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,546
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
$694,500
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Los Angeles, CA
Properties on Market for Mixed-use properties in Los Angeles
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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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 $4,250,000.
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
