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$ 2,295,000
Est. payment | /mo
12 Baths
6,250 SqFt
$ 2,295,000
Est. payment | /mo
12 Baths
6,250 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,250 sqft
Price per Sqft $367
MLS Listing ID 26643727
HOA Y/N No
Year Built 1922
Lot Size 7,731 Sqft
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) 1-bed/1-bath units and (1) studio. The property offers immediate income upside through lease-up of two vacant 1-bedroom units and significant mark-to-market rent growth, with average in-place rents approximately 48% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,295,000 ($176,538/unit | $367/SF) with a 7.17% in-place cap rate and 11.33% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR3
Interior
Interior Features Ceiling Fan(s)
Heating Combination
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Microwave
Exterior
Parking Features None
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5155031017
Special Listing Condition Standard
Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc.