Property Detail

Description

Built in 1929, 512 N Alexandria Avenue represents a rare opportunity to acquire a distinctive vintage asset on a desirable residential street in East Hollywood, just moments from Koreatown. The property offers investors a chance to own a character-rich building from one of Los Angeles' most architecturally significant eras. With its classic 1920s charm and strong rental fundamentals, the asset combines historic appeal with meaningful long-term investment potential in one of the city's most dynamic rental corridors. The property consists of sixteen well-proportioned apartment units, including fourteen (14) one-bedroom / one-bath units and four (4) studio apartments. The apartments feature spacious layouts and showcase a variety of original architectural elements that highlight the building's vintage character. Tenants and visitors alike will appreciate the thoughtful design details, including high ceilings, arched passageways, and built-in shelving, all of which contribute to the property's warm and timeless aesthetic.In addition to its attractive unit interiors, the building offers tasteful common areas and a welcoming residential atmosphere reflective of its 1920s design heritage. Amenities include secure property access, an outdoor patio gathering area, and twelve walk-in storage units located in the basement. Residents also benefit from on-site laundry facilities, which are currently leased, providing convenient services for tenants while generating additional income for ownership.From an investment perspective, 512 N Alexandria Avenue presents several avenues for future upside. Investors may have the opportunity to increase rental income through strategic unit renovations as units turn over, as well as explore the potential addition of ADUs within two separate lower-level spaces. The building is currently master metered for utilities, creating the potential for further revenue optimization through the implementation of a RUBs (Ratio Utility Billing System) program. The property is exceptionally well located in East Hollywood, offering residents convenient access to some of Los Angeles' most important employment and lifestyle centers, including Koreatown, Downtown Los Angeles, and Hollywood. The neighborhood is highly walkable, with a Walk Score of 85, allowing residents to accomplish most daily errands on foot. Additionally, the property sits approximately a 10-minute walk from the Metro B Line (Red) at the Vermont / Beverly Station, providing direct access to major transit routes and making the location highly desirable for renters seeking connectivity throughout the city.