406 S Coronado Street,Los Angeles, CA 90057
Los Angeles, CA 90057
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.
Details
| MLS# | 25512303 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1922 |
| Days On Site | 44 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. 310-425-9838 | Taylor Avakian |
Features
| Bed(s) | 12 |
|---|---|
| Bath(s) | 13 |
| SQ Feet | 6,250 |
| Story(s) | 2 |
| Units | 13 |
| Building(s) | 1 |
| Zoning | LAR3 |
| Acreage | 0.18 |
Market Activity 90057
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90057 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90057) | |
Price: $2,575,000 low | high Med: $812,000 SqFt: 6,250 low | high Med: 1,339 $ / SqFt: $412 low | high Med: $615 On site: 44 low | high Med: 57.000000 | |