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406 S Coronado St
Los Angeles, CA 90057
Multifamily Property For Sale
·
13 Units
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.
PROPERTY FACTS
| Price Per Unit | $176,538 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.17% | Lot Size | 0.19 AC |
| Gross Rent Multiplier | 9.46 | Building Size | 6,250 SF |
| No. Units | 13 | Average Occupancy | 85% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1922 |
| Zoning | LAR4 - Restricted Density Multiple Dwelling | ||
| 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 |
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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