Presenting 1435 Alvarado Terrace in Los Angeles. This 30-unit apartment building is a value-add property with a 100%+ upside in rents in the high-demand Pico Union rental market area of Los Angeles. This value-added opportunity provides investors to acquire a well-located, well-maintained, professionally managed apartment building. The building has been consistently upgraded with recent major improvements that include new exterior paint including the steel hand railings. New Electrical Sub-Panels have been installed, and a new 4-inch waste-line and runs 200 feet from the building to the street. Fifteen of the units have been recently remodeled and upgraded with new paint, new kitchens, new countertops, new fixtures, new blinds, ceiling fans, hardwood, and tile flooring. There is beautiful hardwood flooring throughout all the building's hallways and stairs. The units have large new windows making the 9-foot ceiling units bright and welcoming. The front entry door has an intercom-controlled gate, and the building features many security cameras that can be remotely viewed 24 hours a day. It has an on-site laundry facility with a new water heater for the tenants. The building is separately metered for gas and electricity. The property will be delivered with significant upside potential but will provide the new owner with significant upside potential. When the long-term tenant’s turnover, the new owner will enjoy a large increase in rental income and be able to renovate the units to increase the value of those units. Located on the ground floor of the building is a large multi-room area that could be a large potential ADU unit or a large Owner/User Management office. The building was constructed in 1912 and is a 30-unit ±16.047 square foot building on a ±7,505 square foot [Q]RD1.5-1 zoned lot. There is an excellent unit mix of six one-bedroom units and twenty-six studio units. The building is located within walking distance of shopping, schools, restaurants, and the beautiful Terrace Park. This location is located 2 miles from DTLA, LA Live, Crypto.com Arena, and downtown attractions.
Property Details
Property Features
Property Information:
Year Built: 1912
Stories: 3
Listing Office:
Office Name: Burts & Associates
Office Phone: (310) 308-8003
Listing Agent: Cynthia Burts
Interior Features
Interior Information:
Appliances: Dryer, Washer
Flooring Type: Tile, Wood
Exterior Features
Exterior Information:
Private Pool: No
View: City Lights, Neighborhood
Parking Information:
Parking: On Street
Lot Features
Lot Information:
Lot: Garden, Rectangular Lot
Lot Size: 0.17 Acres
Utilities
Utilities Information:
Heating: Wall Furnace
Cooling: Wall/Window Unit(s)
School Info
Assigned Schools Information:
West Adams Preparatory High School, Public District Grades 9-12
Math, Science, & Technology Magnet Academy at Roosevelt High School, Public Magnet Grades 9-12
Daniel Pearl Journalism & Communications Magnet, Public Magnet Grades 9-12
Berendo Middle School, Public District Grades 6-8
Studio, Public District Grades 6-8
Magnolia Avenue Elementary School, Public District Grades KG-6
Melrose Avenue Elementary School, Public Magnet Grades KG-6
Point Fermin Elementary School, Public Magnet Grades KG-5
Other
Directions Information:
Directions: Exit the 10 Freeway at Hoover Street, Go North to Alvarado Terrace and Turn East/Right and Proceed to 1435 Alvarado Terrace on the North Side of the Street
Price Information
Listing Price Info
Price Summary:
List Price: $3,975,000
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $2.9M more than the Median Sold Price in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #SR24057452
Listing Office:
Office Name: Burts & Associates
Office Phone: (310) 308-8003
Listing Agent: Cynthia Burts
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: 5/3/2024, 11:22:36 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
We're sorry, we currently don't have sales or tax history data for this listing.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$19.9K
Per Month
Principal & Interest
$19.8K
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$11.9K
Powered By
Advertisement
NMLS#3030
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
4
/10
Magnolia Avenue Elementary School
1626 Orchard Ave
Distance between this listing and this school0.31 miles
Public District Grades KG-6
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school4.47 miles
Public Magnet Grades KG-6
6
/10
Point Fermin Elementary School
3333 S Kerckhoff Ave
Distance between this listing and this school22.88 miles
Public Magnet Grades KG-5
Middle School
3
/10
Berendo Middle School
1157 S Berendo St
Distance between this listing and this school0.77 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school4.88 miles
Public District Grades 6-8
High School
2
/10
West Adams Preparatory High School
1500 W Washington Blvd
Distance between this listing and this school0.53 miles
Public District Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school4.11 miles
Public Magnet Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school16.08 miles
Public Magnet Grades 9-12
Assigned Schools
4
/10
Magnolia Avenue Elementary School
1626 Orchard Ave
Distance between this listing and this school0.31 miles
Public District Grades KG-6
8
/10
Melrose Avenue Elementary School
731 N Detroit St
Distance between this listing and this school4.47 miles
Public Magnet Grades KG-6
6
/10
Point Fermin Elementary School
3333 S Kerckhoff Ave
Distance between this listing and this school22.88 miles
Public Magnet Grades KG-5
Assigned Schools
3
/10
Berendo Middle School
1157 S Berendo St
Distance between this listing and this school0.77 miles
Public District Grades 6-8
4
/10
Studio
2211 W Avenue 30
Distance between this listing and this school4.88 miles
Public District Grades 6-8
Nearby Schools
4
/10
Downtown Value
950 W Washington Blvd
Distance between this listing and this school0.59 miles
Public Charter Grades KG-8
Assigned Schools
2
/10
West Adams Preparatory High School
1500 W Washington Blvd
Distance between this listing and this school0.53 miles
Public District Grades 9-12
8
/10
Math, Science, & Technology Magnet Academy at Roosevelt High School
456 S Mathews St
Distance between this listing and this school4.11 miles
Public Magnet Grades 9-12
8
/10
Daniel Pearl Journalism & Communications Magnet
6649 Balboa Blvd
Distance between this listing and this school16.08 miles
The neighbors living near this home have an average income of $23,284. Most Los Angeles, CA residents have annual incomes less than $35k. The most common type of family is single, no kids. Typical level of education for residents in this area is high school diploma.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 1435 Alvarado
What is the listing price of this property?
The listing price of 1435 Alvarado property is $3,975,000.
What type of property is this?
The property 1435 Alvarado is a condo located in Los Angeles, California, 90006.
Is this property for sale now?
Active Listing: 1435 Alvarado is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 1435 Alvarado are: Magnolia Avenue Elementary School: GreatSchools Rating 4/10Melrose Avenue Elementary School: GreatSchools Rating 8/10Point Fermin Elementary School: GreatSchools Rating 6/10Berendo Middle School: GreatSchools Rating 3/10Studio: GreatSchools Rating 4/10West Adams Preparatory High School: GreatSchools Rating 2/10Math, Science, & Technology Magnet Academy at Roosevelt High School: GreatSchools Rating 8/10Daniel Pearl Journalism & Communications Magnet: GreatSchools Rating 8/10
Which year was this property built?
The year of construction for 1435 Alvarado is 1912.
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 1435 Alvarado in Los Angeles, CA and zip code 90006 in the Central LA neighborhood. This home, which was built in 1912, sits on a 0.17 acre lot. It has been listed on Rocket Homes since March 22, 2024 and is currently priced at $3,975,000.
Los Angeles, CA housing market in April 2024 saw over 701 listings sold above listed price, more than 204 sold at listed price and over 629 sold below. Between March 2024 and April 2024, Los Angeles, CA real estate market has seen increase in the number of listings by 14.9%. In April 2024 median list price was $986,427 and the average listing age was 34 days.
From Rocket Homes Real Estate and based on county public records data.
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. 
Pro Boxing
Pro Boxing
Major League Soccer (MLS)
Mexican League Soccer
H&M
Burlington
Ross Dress For Less
Boston Market
White Castle
Popeyes
Honda
Kia
Nissan
Rhythmic Contemporary Hits
Urban Adult Contemporary