Property Description

511 S Carondelet St | 29-Unit Non-RSO Multifamily in Central Los AngelesBuilt in 1991 on an 11,674 SF LAR4 lot with 27,284 SF of improvements, this well-positioned asset features a strong unit mix of (4) studios, (17) 1-bed/1-bath, and (8) 2-bed/2-bath units plus 48 on-site parking spaces. The property is not subject to rent control (Non-RSO) and offers clear value-add upside through lease-up of two vacant units and mark-to-market rent growth across the rent roll. Offered at $7,400,000 ($255,172/unit | $271/SF) with a 6.11% in-place cap rate and 7.46% pro forma cap rate, supported by additional income from parking, laundry, and fees.

ESSENTIAL INFO

• Status: Active