Los Angeles, CA90026
| 43586 sqft | MLS# 25572151
Tract:
For Sale $23,900,000
Description
222 N Alvarado St presents a rare opportunity to acquire a newly constructed 62-unit apartment building in Echo Park one of Los Angeles' most vibrant and high-demand rental markets. Completed in 2025, the property combines modern design, durable systems, and thoughtful unit layouts tailored to today's renter expectations. With a unit mix of (60) one-bedrooms, (1) one-bedroom ADU, and (1) two-bedroom ADU, the building delivers operational efficiency and long-term flexibility.Twelve units are already leased, generating in-place income with average rents around ~$2,450/month. As the lease-up continues, investors can capitalize on pro forma rents approaching ~$2,663/month offering natural rent growth with minimal intervention. Rare for new construction, the building includes 52 parking spaces, giving it a competitive edge in a submarket where parking is limited and tenant demand is high. Positioned west of Downtown Los Angeles, residents enjoy proximity to green spaces like Echo Park Lake and Vista Hermosa, as well as access to indie theaters, galleries, and local eateries. The location offers strong commuter access via the 101 and 110 freeways and excellent walkability. Priced at approximately $385K per door and requiring no capital improvements, 222 N Alvarado St is an exceptional turnkey investment for yield-focused buyers seeking long-term growth in a supply-constrained market. Brand-New Construction (2025): No deferred maintenance and fully modern systems.62 Units with Premium Interiors: Includes (60) 1BRs, (1) 1BR ADU, and (1) 2BR ADU.52 On-Site Parking Spaces: A rare amenity for new developments in central LA.Immediate Income: 12 units leased with in-place rents averaging ~$2,450/month.Pro Forma Rents Up to $2,800: Clear path to income growth as lease-up continues.Efficient Price Point: $385K per unit below typical cost for comparable new builds.Strong Echo Park Location: High renter demand, walkability, and freeway access.No Renovation Needed: Move-in ready units allow investors to focus on growth.Stabilization Potential: Forecasted cap rate of 5.42% with conservative underwriting.Zoned LAR4: Offers long-term flexibility for future redevelopment or repositioning.
Facts
| Built in 2025 | Lot Size: 13488.00 sqft | HOA Dues: $0/month
Features
Listing provided by Taylor Avakian, Lyon Stahl Investment Real Estate, Inc.
Based on information from California Regional Multiple Listing Service, Inc. as of August 5, 2025. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.