Description

Situated near the intersection of Sunset Boulevard and Alvarado Street, the property affords residents convenient access to Echo Park Lake, Silver Lake, and the trendy boutiques, bars, and eateries along this revitalized stretch of Sunset Boulevard. With individual units laid out in a bungalow-style fashion, the property appeals to both tenants and investors. A new owner can add value to the property through interior upgrades as apartments naturally turn over, in an effort to recapture the approximately 55% rent upside. An investor can also save from an otherwise costly maintenance expense because the building does not appear on the Los Angeles Department of Building & Safety's seismic retrofit list. Dodger Stadium, home of the back-to-back World Series champions, sits just 1.5 miles east of the property, while Downtown Los Angeles is less than two miles away as well. With LA Live and the neighboring Crypto.com Arena, Los Angeles Convention Center, and nearby Los Angeles Coliseum scheduled to host events in the 2028 Summer Olympics, the entire local area stands to benefit from upcoming infrastructure improvements and an influx of capital to the area.