406 S Coronado St Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90057
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,250 sqft
Price per Sqft $412
MLS Listing ID 25512303
Bedrooms 12
Year Built 1922
Lot Size 7,734 Sqft
Acres 0.1775
Property Sub-Type Multi-Family
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 Downtown L.A.
Zoning LAR3
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Wall/Window
Equipment Garbage Disposal, Dishwasher
Exterior
Parking Features None
Building
Story 2
Level or Stories Multi/Split
Others
Special Listing Condition Standard