532 S Coronado St
Los Angeles, CA 90057
Hanford Apartments · Multifamily Property For Sale · 46 Units

The property was built in 1924 and is a 4 story New York style walk up brick building. The building has 46 units with a mix of 45 studios with full kitchens and baths and a 1 bedroom, 1 bath unit. The building consists of 21,460 square feet on a 7500 square feet lot. there is an adjacent 9700 square feet lot, currently used for 32 parking spaces and a community garden. The remodeling, occurring over the last several years, combines the installation of modern conveniences while maintaining the original character of each apartment. This includes large double hung wood windows, original refinished Douglass fir hardwood floors in all apartments and original porcelain bathroom floors in most units. exposed brick walls adorn the living areas of most apartments. a total of 44 units out of the 46 have been upgrades and are obtaining near market rents. The building is secured with restricted access, surveillance system with 4 cameras and remote-controlled gated parking lot. The exterior is inviting with world class landscaping and potted plants. The lobby is welcoming and provides tenants with comfort while retrieving mail and have refinished original hardwood floor and through all hallways. In the rear of the building there is an organic community garden where tenants garden and grow fresh vegetables. The building has contract on site laundry for the tenants comfort, with 4 washers and 4 dryers. the hot water is provided by a state of the art boiler system with 2 holding tanks and circulation pump for instant hot water in each apartment. The building is individually metered for gas, master metered for electricity. Drive by ONLY. DO NOT DISTURB tenants. Property will be shown upon accepted offer. GRM is based on price of building only $10,495,000. One of the trustee holds a California Real Estate License.