176 S Alvarado Street, Los Angeles, CA 90057

Property Description

13,000 SF two-story commercial building with a 3,000 SF first floor, 10,000 SF of total floor space, seven bathrooms, 15-17 gated parking spaces, a 123 ft 62 ft building footprint, full two-story access, and existing medical-certified use. Property offers approximately 6,500 SF per floor with a functional layout that works for medical, office, retail, creative, nonprofit, Behavior health clinic, or specialized commercial operations. Ground level includes 3,500 SF of office/retail and 3,000 SF of enclosed garage with dual access points. Upstairs features 6,500 SF across four suites with multiple restrooms and flexible configurations. The building is vacant and ready for immediate occupancy, but historically delivered strong cash flows. Previous long-term tenants included a professional law group occupying the entire ground floor at $10,000/month and a dispensary/general partnership occupying the entire second floor at $15,000/month, both operating under standard commercial terms before leases expired. With this rent history, future owners can realistically underwrite $25,000+/mo in stabilized commercial income, subject to market conditions and tenant mix. Located in a TOC-eligible corridor with C2-1 zoning, the property offers meaningful long-term upside. C2 zoning in this area can support R4-level density (approx. 1 unit per 400 SF of land), positioning the site as a candidate for mixed-use or high-density residential redevelopment under city guidelines. Given the 6,500 SF lot and TOC incentives, investors may explore future conversion to multifamily or affordable housing units, subject to city approvals and an opportunity enhanced by its proximity to Downtown LA, Koreatown, and major transit. The building's secure parking, medical status, and large footprint make it uniquely flexible for both income generation today and phased redevelopment tomorrow. Vacant, easy to show. All information deemed reliable but not guaranteed; buyer to verify all uses, square footage, zoning, and redevelopment possibilities.