8 days on rocket

150 S Alvarado St, Los Angeles, CA, 90057

$2,275,000

Home List Price

$10,000*

Closing Credit

10 Bedrooms
10 Baths
6,536 SqFt
$348/SqFt
House

Location

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150 S Alvarado St, Los Angeles$2,275,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeOther
Attached GarageYes
Year Built1954
MLS #24440959
Lot Size0.15 Acres
StatusActive

About 150 S Alvarado St

Amazing Current Cap Rate of 7% and 10.4 GRM with 43% upside to 11% Cap Rate and 7.2 GRM on proforma! Now offered with Higher Rents and 2 New Vacancies. Value-Add 10-unit building with 4 Fully renovated units with permits and 2 upcoming vacancies that can be renovated and leased for $2,407 per month (Previous rents were only $808). Priced at only $227k/door and $348/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 189k/unit, 9.6% Cap Rate, and 8 GRM on Current with upside to 13.6% Cap Rate and 6 GRM on Proforma after ADUs. All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 4 units have been fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.

Property Details

Property Features

Property Information:

  • Year Built: 1954
  • Stories: 2
  • Living Area: 6,536 SqFt

Listing Office:

  • Office Name: Global Platinum Properties, Inc.
  • Office Phone: (424) 394-1030
  • Listing Agent: Armin Soleimani

Interior Features

Interior Information:

  • Appliances: Refrigerator
  • Flooring Type: Laminate

Bedroom and Bathroom Information:

  • Total Bedroom Count: 10

Exterior Features

Parking Information:

  • Attached Garage: Yes

Lot Features

Lot Information:

  • Lot Size: 0.15 Acres

School Info

Assigned Schools Information:

  • Belmont Senior High School, Public District Grades 9-12
  • Contreras Learning Center-Academic Leadership Community, Public District Grades 9-12
  • Contreras Learning Center-Los Angeles School of Global St, Public District Grades 9-12
  • Sal Castro Middle School, Public District Grades 6-8
  • Studio, Public District Grades 6-8
  • Union Avenue Elementary School, Public District Grades KG-5
  • Melrose Avenue Elementary School, Public Magnet Grades KG-6
  • Academy For Enriched Sciences, Public Magnet Grades 1-5

Other

Directions Information:

  • Directions: Between 1st and 2nd Street. The property is accessible from Alvardo or Mountain View Streets.

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,275,000
  • Price Per SqFt: $348/SqFt

Tax Information:

  • Annual Amount: $7,860
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Los Angeles, CA.

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Los Angeles, CA

City

Med. Sold Price

$1.0M

Med. Price/SqFt

$640

Avg. Days On Market

34

# of Sold Homes

1609

150 S Alvarado St vs Los Angeles

8 DAYS ON ROCKET

-26 Days

$2,275,000

+$1.2M More

$348/SqFt

-$292 Less

KEY TAKEAWAY

This property is $1.2M more than the Median Sold Price and $292/SqFt less than other homes in Los Angeles, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #24440959

Listing Office:

  • Office Name: Global Platinum Properties, Inc.
  • Office Phone: (424) 394-1030
  • Listing Agent: Armin Soleimani

IDX 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. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 9/26/2024, 5:21:02 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$7,860$564,342
2020$7,652$557,368
2019$7,535$546,441
2018$7,350$535,727
2017$7,350$525,224

History based on county public records data.

Payment Calculator

$11.4K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$6,887

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-327642
4
/10

  • Union Avenue Elementary School

  • 150 S Burlington Ave

  • 0.28 miles

  • Public District Grades KG-5

school-card-donut-327643
9
/10

  • Melrose Avenue Elementary School

  • 731 N Detroit St

  • 4.47 miles

  • Public Magnet Grades KG-6

school-card-donut-327644
9
/10

  • Academy For Enriched Sciences

  • 6170 Lockhurst Dr

  • 23.00 miles

  • Public Magnet Grades 1-5

Middle School

school-card-donut-327645
4
/10

  • Sal Castro Middle School

  • 1575 W 2nd St

  • 0.44 miles

  • Public District Grades 6-8

school-card-donut-327646
4
/10

  • Studio

  • 2211 W Avenue 30

  • 3.35 miles

  • Public District Grades 6-8

High School

school-card-donut-327647
3
/10

  • Belmont Senior High School

  • 1575 W 2nd St

  • 0.44 miles

  • Public District Grades 9-12

school-card-donut-327648
3
/10

  • Contreras Learning Center-Academic Leadership Community

  • 322 Lucas Ave

  • 0.77 miles

  • Public District Grades 9-12

school-card-donut-327649
2
/10

  • Contreras Learning Center-Los Angeles School of Global St

  • 322 Lucas Ave

  • 0.77 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $20,649. The majority of Los Angeles, CA residents have income less than $35k annually. The majority of families are single, no kids. The majority of residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 150 S Alvarado St

What is the listing price of this property?

The listing price of 150 S Alvarado St property is $2,275,000.

What type of property is this?

The property 150 S Alvarado St is a house located in Los Angeles, California, 90057.

Is this property for sale now?

Active Listing: 150 S Alvarado St is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 150 S Alvarado St are:
Union Avenue Elementary School: GreatSchools Rating 4/10
Melrose Avenue Elementary School: GreatSchools Rating 9/10
Academy For Enriched Sciences: GreatSchools Rating 9/10
Sal Castro Middle School: GreatSchools Rating 4/10
Studio: GreatSchools Rating 4/10
Belmont Senior High School: GreatSchools Rating 3/10
Contreras Learning Center-Academic Leadership Community: GreatSchools Rating 3/10
Contreras Learning Center-Los Angeles School of Global St: GreatSchools Rating 2/10

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $7,860 (source: MLS/based on county public records data).

How many bedrooms and bathrooms does this property have?

The property at 150 S Alvarado St has 10 bedrooms and 10 bathrooms.

What is the square footage of this property?

The property 150 S Alvarado St is 6,536 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 150 S Alvarado St is 1954.

Rocket Homes›California›Los Angeles County›Los Angeles›90057›150 S Alvarado St

This home is located at 150 S Alvarado St in Los Angeles, CA and zip code 90057 in the Central LA neighborhood. This 6,536 square foot home, which was built in 1954, sits on a 0.15 acre lot. Features: 10 bedrooms, 10 bathrooms. It has been listed on Rocket Homes since September 17, 2024 and is currently priced at $2,275,000.

Los Angeles, CA housing market in August 2024 saw over 668 listings sold above listed price, more than 213 sold at listed price and over 728 sold below. In August 2024 in Los Angeles, CA there were 7.2% more homes for sale than in July 2024. In August 2024 median list price was $1,013,623 and the average listing age was 34 days.

From Rocket Homes Real Estate and based on county public records data.

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