The Group CRE Brings Rare New Construction Opportunity to Market: 62-Unit Echo Park Building with Immediate Income and Premium Upside

Brand-New 2025 Apartment Building at 222 N Alvarado St Offers Investors Immediate Cash Flow and Premium Upside

Los Angeles, CA , Aug. 01, 2025 (GLOBE NEWSWIRE) -- Taylor Avakian and The Group CRE are pleased to announce the exclusive listing of 222 N Alvarado St, a newly completed 62-unit apartment building in the heart of Echo Park. Priced at $23,900,000 ($385,484 per unit), this 2025 construction represents a rare opportunity for investors to acquire a turnkey asset with immediate income generation and significant lease-up potential.

222 N Alvarado St Los Angeles CA 90026

With 25% of the units already leased and generating cash flow, the property delivers what most new developments can't: immediate returns. Current in-place rents average $2,450 per month, while market rents for comparable 1-bedroom units in the area range from $2,340 to $2,790, providing clear upside as the building continues its lease-up phase.

"This is exactly the type of opportunity our clients have been waiting for," said Taylor Avakian, Founder of The Group CRE. "You rarely see new construction that's already producing income while still offering meaningful rent growth potential. At under $400K per door in Echo Park, the numbers just make sense."

The property stands out with features that matter to both investors and tenants. All 62 units feature modern finishes, Walk in Closets, Balconies, and Washer and Dryers in the unit , while 52 parking spaces provide a significant competitive advantage in a market where most new buildings lack adequate parking. The building includes mostly 1+1 units (620 SF average), perfectly sized for Echo Park's diverse tenant base.

Located just west of Downtown LA, Echo Park continues to attract renters seeking urban amenities with neighborhood character. The area's proximity to green spaces like Echo Park Lake and Elysian Park, combined with easy freeway access via the 101 and 110, ensures strong commuter appeal and tenant retention.

The building's pro forma projections show a 5.42% cap rate with a Net Operating Income of $1,294,942, reflecting both current performance and realistic growth assumptions based on comparable properties in the submarket.

The Group CRE specializes in apartment building transactions throughout Los Angeles, having facilitated over $300 million in deals over the past six years with a 96% list-to-sales ratio. The team focuses exclusively on multifamily properties, providing investors with deep market knowledge and strategic insights to maximize returns while minimizing risks.

Property Highlights:

Units: 62 (60 1+1, 1 ADU 1+1, 1 ADU 2+2)
Year Built: 2025
Building Size: 43,586 SF
Lot Size: 13,488 SF
Parking: 52 spaces
Zoning: LAR4
Price: $23,900,000 ($385,484/unit, $548.34/SF)

Here is the property website with Offering Memorandum downloads and deal metrics: https://www.thegroupcre.com/listings-closings/222-n-alvarado-st-los-angeles-ca

The Group CRE Brings Rare New Construction Opportunity to Market: 62-Unit Echo Park Building with Immediate Income and Premium Upside

Roof Top Deck at 222 N Alvarado St

About The Group CRE

At The Group CRE, we prioritize understanding your unique investment objectives and delivering personalized solutions tailored to your needs. Drawing from years of experience and a profound grasp of the industry, we excel at identifying lucrative opportunities that align with your goals. Through our extensive network of property owners and developers, we provide access to exclusive listings, ensuring you're positioned for success from the start. However, our commitment goes beyond mere transactions. We believe in fostering transparent, open communication and upholding integrity in every interaction. From the initial consultation to long after the closing, we stand by you, offering unwavering support and guidance. Whether you're a seasoned investor seeking to diversify your portfolio or a newcomer navigating the complexities of multifamily real estate, The Group CRE is your trusted ally. Experience the transformative power of partnering with a team that embodies professionalism and integrity, putting your success at the forefront of everything we do.

Press inquiries

The Group CRE
https://thegroupcre.com
Taylor Avakian
taylor@thegroupcre.com
9169964421

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