Brand new 4plex for sale

As you know, we’re not keen on selling properties. But, every once in a while, circumstances force our hand.

So, we’ve just placed 132 N Alvarado St. on the market for $1,715,000.

What is it?

  • Brand new 4plex seconds from Echo Park
  • All units have 10′ ceilings, private outdoor spaces, hard wood floors, all modern conveniences
  • All units have 2 parking spaces
  • New leases with high quality tenants
  • No deferred maintenance
  • A new owner would be buying at 12.5x GRM and a 5.7 cap rate (!!)

Why are we selling? It’s owned via an LLC, which means we can’t borrow against it for a cash-out refinancing the way we can with other buildings. Since we have a ton of equity tie-up in the building which we’d like to return to investors, we’re putting it on the market.

If you’re interested in making an offer, please email me at moses [at] adaptiverealty [dot] com for more info.

Are you a broker? We’re offering a 2.5% co-op on this deal.