NOT LISTED FOR SALE

1421 Alvarado Terrace Los Angeles, CA 90006

Pico-Union Neighborhood
7 Beds
5 Baths
3,932 Sq Ft
7,506 Sq Ft Lot

Last Sold August 20, 2019

Last sale price $1,000,000 $254 Per Sq Ft

111 Days on Market

Highlights

  • Craftsman Architecture
  • Laundry Room
  • Auto Driveway Gate
  • No HOA
  • Central Heating
  • 5-minute walk to Alvarado Terrace Park

About This Home

As of August 2019

SUBMIT ALL OFFERS! Great opportunity to own this fully occupied 5 unit building. Property features (2) 2bedroom 1 bath units and (3) 1 bedroom 1 bath units.Property has copper plumbing, updated electrical, recently retrofitted foundation, Brand new Composition shingle roof, Each unit is separately metered for gas and electric, fire extinquishers throughout the building, onsite laundry, electric gated parking for 6 cars in rear, & completely gated grounds for added occupant security. The property is a Tudor Revival which has been given the "Historic Preservation" designation by the city of Los Angeles. Property was designed by famed architects Morgan & Walls who also constructed the Wiltern & The El Capitan Theaters. Property qualifies for the Mills Act Tax Exemption. Property is located near a park in a great up and coming neighborhood which is great for families with kids.Close to Public transportation, Staples Center, LA Live, And all downtown nightlife. Could be awesome for an owner user. Hurry this one won't last! Drive by Only. Do NOT Disturb tenants!

Last Agent to Sell the Property

Will Wheaton

Will Wheaton Real Estate License #01857540 Listed on: 02/07/2019

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1903

Lot Details

  • 7,506 Sq Ft Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Home Design

  • Craftsman Architecture
  • Apartment

Interior Spaces

  • 3,932 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 5 Bathrooms

Parking

  • Parking Available
  • Auto Driveway Gate
  • Assigned Parking

Utilities

  • Central Heating
  • Septic Type Unknown

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 33
  • Tax Tract Number 2243
  • Assessor Parcel Number 5135003011

Community Details

Overview

  • No Home Owners Association
  • 5 Units

Amenities

  • Laundry Facilities

Building Details

  • 5 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • Gardener Expense $425
  • Insurance Expense $500
  • Other Expense $1,056
  • Trash Expense $3,263
  • Water Sewer Expense $3,263
  • New Taxes Expense $8,063
  • Operating Expense $15,513
  • Gross Income $74,462
  • Net Operating Income $51,466

Property Details

Home Type

Multi-Family

Year Built

Built in 1903

Lot Details

0

Listing Details

  • CapRate: 4.62
  • Property Attached: Yes
  • Water Sewer Expenses: 3262.50
  • Zoning: LARD1.5
  • Architectural Style: Craftsman
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 425.00
  • Parcel Number: 5135003011
  • Year Built: 1903
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 254.32

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Assigned, Auto Driveway Gate

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Common Area
  • Sewer: Septic Type Unknown
  • Trash Expense: 3262.50
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 7506.00
  • Lot Size Acres: 0.1723

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 74462.00
  • Gross Multiplier: 15.06
  • Gross Scheduled Income: 73034.00
  • Insurance Expense: 500.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 1428.00
  • Lot Size Area: 7506.0000 Square Feet
  • Net Operating Income: 51466.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Operating Expense: 21568.00
  • Other Expense: 1056.00
  • Other Expense Description: Misc
  • Rent Control: Yes
  • Total Actual Rent: 5804.00
  • Total Expenses: 15513.00

Tax Info

  • New Taxes Expense: 8063.00
  • Tax Census Tract: 2243.10
  • Tax Lot: 33
  • Tax Tract Number: 2243.1

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/20/2019 08/20/19 Sold $1,000,000 -9.1% $254 / Sq Ft
05/29/2019 05/29/19 Pending -- -- --
02/07/2019 02/07/19 For Sale $1,099,997 +12.8% $280 / Sq Ft
10/03/2016 10/03/16 Sold $975,000 -10.5% $248 / Sq Ft
09/09/2016 09/09/16 Pending -- -- --
07/31/2016 07/31/16 Price Changed $1,089,000 -5.2% $277 / Sq Ft
04/18/2016 04/18/16 For Sale $1,149,000 -- $292 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Will Wheaton

    Seller's Agent in 2019

    Will Wheaton

    Will Wheaton Real Estate

    (213) 445-2277

    25 Total Sales

    Section Image
  • Walter castillo

    Seller's Agent in 2016

    Walter castillo

    Coldwell Banker Realty

    (213) 792-0940

    1 in this area

    19 Total Sales

    Section Image
  • Karen Sharpe

    Buyer's Agent in 2016

    Karen Sharpe

    Compass

    (323) 359-5024

    39 Total Sales

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR19030112

California Regional Multiple Listing Service (CRMLS)

APN: 5135-003-011

California Los Angeles County Los Angeles 90006 Pico-Union

1421 Alvarado Terrace, Los Angeles, CA

This home is located at 1421 Alvarado Terrace, Los Angeles, CA 90006 since 07 February 2019. This property was built in 1903. 1421 Alvarado Terrace is a home located in Los Angeles County with nearby schools including Magnolia Avenue Elementary School, Berendo Middle, and West Adams Preparatory High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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