406 S CORONADO STREET, LOS ANGELES CA 90057
- 6,250 sq.ft.
- 7,734 sq.ft. lot
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 14% 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 6.70% in-place cap rate and 8.22% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.
Listing Courtesy of Taylor Avakian, Lyon Stahl Investment Real Estate, Inc.
Interior Features
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