406 S CORONADO STREET, LOS ANGELES CA 90057
- 6,250 sq.ft.
- 7,734 sq.ft. lot
Property Description
Key Property Details Location: 406 S Coronado St, Los Angeles, CA 90057 Lot Size: 7,732 square feet Total Building Area: 6,250 square feet Units: 13 (12 one-bedroom units, 1 studio)Construction: Spanish-style architecture with modernized interiors Year Built: 1922 Zoning: LAR4 (Multifamily with potential for additional ADUs) 406 S Coronado St offers an attractive combination of stable rental income and long-term appreciation potential. The property is currently delivering a 6.08% cap rate, with the ability to achieve 9.87% by optimizing rental rates and capitalizing on Westlake's strong rental market.The unit interiors have been updated with modern kitchens, stainless steel appliances, and wood-inspired flooring, making it a turnkey investment with additional upside. Investors can further enhance returns by leasing the currently vacant unit at market rate and leveraging the ability to construct up to 8 ADUs under AB 1211.With a favorable price per unit and strong occupancy rates, this multifamily asset is a compelling opportunity for investors looking to capitalize on a high-demand rental submarket.
Listing Courtesy of Taylor Avakian, Lyon Stahl Investment Real Estate, Inc.
Interior Features
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