24
See all 24 photos
$2,395,000
Est. payment /mo
12 Beds
13 Baths
6,250 SqFt
Price Dropped by $100K
406 S Coronado ST Los Angeles, CA 90057
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,250 sqft
Price per Sqft $383
MLS Listing ID 25512303
Bedrooms 12
HOA Y/N No
Year Built 1922
Lot Size 7,731 Sqft
Property Description
Key Property Details Location: 406 S Coronado St, Los Angeles, CA 90057 Lot Size: 7,732 square feet Total Building Area: 6,250 square feet Units: 13 (12 one-bedroom units, 1 studio)Construction: Spanish-style architecture with modernized interiors Year Built: 1922 Zoning: LAR4 (Multifamily with potential for additional ADUs) 406 S Coronado St offers an attractive combination of stable rental income and long-term appreciation potential. The property is currently delivering a 6.08% cap rate, with the ability to achieve 9.87% by optimizing rental rates and capitalizing on Westlake's strong rental market.The unit interiors have been updated with modern kitchens, stainless steel appliances, and wood-inspired flooring, making it a turnkey investment with additional upside. Investors can further enhance returns by leasing the currently vacant unit at market rate and leveraging the ability to construct up to 8 ADUs under AB 1211.With a favorable price per unit and strong occupancy rates, this multifamily asset is a compelling opportunity for investors looking to capitalize on a high-demand rental submarket.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR3
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Dishwasher, Disposal
Exterior
Parking Features None
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5155031017
Financing Assumed
Special Listing Condition Standard
Listed by Taylor Avakian • Lyon Stahl Investment Real Estate, Inc.
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