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406 S Coronado St 13 Unit Apartment Building $2,295,000 ($176,538/Unit) 7.17% Cap Rate Los Angeles, CA 90057
Executive Summary
406 S Coronado St is a well-situated 13-unit multifamily investment in the thriving Westlake neighborhood of Los Angeles. Originally constructed in 1922, this 6,250-square-foot property sits on a 7,732-square-foot lot and offers a diverse unit mix consisting of 12 one-bedroom apartments and 1 studio. The building is zoned LAR4, allowing for future expansion potential, including the opportunity to add up to 8 ADUs, significantly increasing rental income and overall asset value.? With strong in-place rents and assumable 3.85% financing, this property provides investors with an immediate cash-flow opportunity while offering long-term upside through strategic lease adjustments and value-add improvements. Its desirable location, combined with high rental demand, makes 406 S Coronado St an excellent acquisition in the competitive Los Angeles market.
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- 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 | 7.17% | Building Size | 6,250 SF |
| Gross Rent Multiplier | 9.46 | 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 | 7.17% |
| Gross Rent Multiplier | 9.46 |
| 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 |
| 1+1 | 12 | $1,597 | 500 |
1 1
Walk Score®
Walker's Paradise (94)
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
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406 S Coronado St
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