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$ 2,200,000
Est. payment | /mo
6,250 SqFt
$ 2,200,000
Est. payment | /mo
6,250 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,250 sqft
Price per Sqft $352
MLS Listing ID CL26643727
HOA Y/N No
Year Built 1922
Lot Size 7,734 Sqft
Acres 0.1775
Property Sub-Type Other
Property Description
406 S Coronado St | 13-Unit Value-Add Multifamily in Westlake, Los Angeles. Built in 1922 on a 7,732 SF LAR4 lot with 6,250 SF of improvements, this renovated asset features a desirable unit mix of (12) studio + den units and (1) studio. The property offers immediate income upside through lease-up of one vacant unit and mark-to-market rent growth, with average in-place rents approximately 17% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,200,000 ($169,231/unit | $352/SF) with a 7.04% in-place cap rate and 8.63% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Other
Cooling Wall/Window Unit(s)
Fireplace No
Building
New Construction No
Others
Tax ID 5155031017
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Listed by Taylor Avakian • Lyon Stahl Investment Real Estate, Inc.
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Patrick Nagel
REALTOR® | Lic# 1760790