406 S Coronado Street, Los Angeles, CA 90057
- $2,200,000
- 12
- BA
- 6,250
- SqFt
- List Price
- $2,200,000
- Price Change
- ▼ $95,000 1776886927
- Status
- ACTIVE
- MLS#
- 26643727
- Year Built
- 1922
- Bathrooms
- 12
- Living Sq. Ft
- 6,250
- Lot Size
- 7,734
- Acres
- 0.18
- Days on Market
- 232
- Property Type
- Multifamily
- Stories
- Multi Level
Property Description
406 S Coronado St | 13-Unit Value-Add Multifamily in Westlake, Los Angeles. Built in 1922 on a 7,732 SF LAR4 lot with 6,250 SF of improvements, this renovated asset features a desirable unit mix of (12) studio + den units and (1) studio. The property offers immediate income upside through lease-up of one vacant unit and mark-to-market rent growth, with average in-place rents approximately 17% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,200,000 ($169,231/unit | $352/SF) with a 7.04% in-place cap rate and 8.63% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.
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Additional Information
- Appliances
- Microwave
- Heat
- Combination
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- Interior Features
- Ceiling Fan(s)
- Attached Structure
- Detached
- Number Of Units Total
- 13
Listing courtesy of Listing Agent: Taylor Avakian (taylor@lyonstahl.com) from Listing Office: Lyon Stahl Investment Real Estate, Inc..
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.