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120 S Coronado St 16 Unit Apartment Building $2,150,000 ($134,375/Unit) 6.28% Cap Rate Los Angeles, CA 90057
Executive Summary
Offered for the first time in more than 38 years, this rare investment opportunity sits on a double lot and benefits from no on-site manager requirement. The property features an attractive unit mix consisting entirely of studio and one-bedroom units, with spacious floor plans averaging approximately 658 square feet each. Select units offer private balconies and city views, while a large private rear yard provides additional tenant appeal. Investors have the opportunity to capitalize on approximately 53% rental upside, supported by separately metered gas and electric utilities, tenant-paid trash service, and individual water heaters for each unit. The property also includes 12 on-site parking spaces within six covered garages equipped with automatic openers. Situated on a substantial 17,303-square-foot LAR3-zoned lot, this offering presents a compelling combination of in-place income, operational efficiencies, and long-term redevelopment or value-add potential in a sought-after Los Angeles location.
Property Facts
| Price | $2,150,000 | Property Subtype | Apartment |
| Price Per Unit | $134,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 6.28% | Building Size | 10,522 SF |
| Gross Rent Multiplier | 8.83 | No. Stories | 2 |
| No. Units | 16 | Year Built | 1941 |
| Property Type | Multifamily | ||
| Zoning | LAR3 | ||
| Price | $2,150,000 |
| Price Per Unit | $134,375 |
| Sale Type | Investment |
| Cap Rate | 6.28% |
| Gross Rent Multiplier | 8.83 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 10,522 SF |
| No. Stories | 2 |
| Year Built | 1941 |
| Zoning | LAR3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | $779.00 | 300 |
| 1+1 | 12 | $1,430 | 340 |
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Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5155-035-020 | Improvements Assessment | $264,528 |
| Land Assessment | $286,985 | Total Assessment | $551,513 |
Property Taxes
Parcel Number
5155-035-020
Land Assessment
$286,985
Improvements Assessment
$264,528
Total Assessment
$551,513
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120 S Coronado St