406 S Coronado St, Los Angeles, CA 90057
- $2,200,000
- 12
- BA
- 6,250
- SqFt
- List Price
- $2,200,000
- Price Change
- ▼ $95,000 1776885527
- MLS#
- 26643727
- Year Built
- 1922
- Bathrooms
- 12
- Living Sq. Ft
- 6,250
- Lot Size
- 7,734
- Days on Market
- 240
- Property Type
- Multifamily
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.
Additional Information
- Other Buildings
- None
- Heat
- Combination
- Cooling
- Window Unit(s), Wall/Window
- Number of Cars in Garage
- None
Mortgage Calculator
Courtesy of Lyon Stahl Investment Real Estate, Inc., Taylor Avakian - CA DRE#02060040
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