Log In/Sign Up
Your email has been sent.
406 S Coronado St 13 Unit Apartment Building $2,295,000 ($176,538/Unit) 6.70% Cap Rate Los Angeles, CA 90057
Executive Summary
406 S Coronado St is a well-located 13-unit multifamily investment in the thriving Westlake neighborhood of Los Angeles. Originally constructed in 1922, the property features 6,250 square feet of building area on a 7,732 square foot lot and offers an efficient unit mix of (12) studio + den units and (1) studio.
The building is zoned LAR4, providing potential for future expansion, including the opportunity to add up to eight ADUs, creating a path for increased rental income and long-term value creation. The property is currently 92% occupied with one vacant unit, allowing investors to capture immediate lease-up upside while gradually repositioning rents toward market levels.
With assumable 3.85% financing, attractive in-place income, and multiple avenues for value creation through rent growth and operational improvements, 406 S Coronado St presents a compelling investment opportunity in one of Los Angeles' most consistently demanded rental submarkets.
The building is zoned LAR4, providing potential for future expansion, including the opportunity to add up to eight ADUs, creating a path for increased rental income and long-term value creation. The property is currently 92% occupied with one vacant unit, allowing investors to capture immediate lease-up upside while gradually repositioning rents toward market levels.
With assumable 3.85% financing, attractive in-place income, and multiple avenues for value creation through rent growth and operational improvements, 406 S Coronado St presents a compelling investment opportunity in one of Los Angeles' most consistently demanded rental submarkets.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $2,295,000 | Apartment Style | Low-Rise |
| Price Per Unit | $176,538 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 6.70% | Building Size | 6,250 SF |
| Gross Rent Multiplier | 9.95 | Average Occupancy | 85% |
| No. Units | 13 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1922 |
| Property Subtype | Apartment | ||
| Zoning | LAR4 - Restricted Density Multiple Dwelling | ||
| Price | $2,295,000 |
| Price Per Unit | $176,538 |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| Gross Rent Multiplier | 9.95 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 6,250 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built | 1922 |
| Zoning | LAR4 - Restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,045 | 350 |
| Studios | 12 | $1,597 | 500 |
1 1
Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (78)
Property Taxes
| Parcel Number | 5155-031-017 | Improvements Assessment | $506,332 |
| Land Assessment | $1,592,958 | Total Assessment | $2,099,290 |
Property Taxes
Parcel Number
5155-031-017
Land Assessment
$1,592,958
Improvements Assessment
$506,332
Total Assessment
$2,099,290
1 of 27
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
406 S Coronado St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.