Homes for sale - 222 N Alvarado ST, Los Angeles, CA 90026

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John Herkenrath

johnherkenrath@epiquerealty.com +1(310) 221-2910

$23,900,000

Est. payment - /mo

64 Beds

63 Baths

43,586 SqFt

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 43,586 sqft

Price per Sqft $548

MLS Listing ID 25572151

Bedrooms 64

HOA Y/N No

Year Built 2025

Lot Size 0.310 Acres

Property 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.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LAR4

Interior

Heating Central

Cooling Central Air

Fireplace No

Appliance Barbecue, Dishwasher, Disposal, Microwave

Exterior

Parking Features Assigned, Garage

Total Parking Spaces 52

Building

Story 6

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5157021030

Special Listing Condition Standard

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Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc.

"John takes great pride in helping his clients through every step of the buying and selling process. Leveraging two decades of experience in pre-construction, new home sales and market sales exclusive representation. his vast knowledge in brokering home sales within luxury communities and new developments has proven invaluable to his clients."

+1(310) 221-2910

johnherkenrath@epiquerealty.com

8383 Wilshire Blvd #800 Beverly Hills CA 90211

222 N Alvarado ST Los Angeles, CA 90026