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… Read More lease-up of one vacant unit and mark-to-market rent growth, with average in-place rents approximately 14% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,295,000 ($176,538/unit | $367/SF) with a 6.70% in-place cap rate and 8.22% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Taylor Avakian 310-259-7556
Listing Snapshot
Days Online
48
Last Updated
Square Ft.
6,250
Lot Size
0.18 Acres
Year Built
1922
MLS Number
26643727
Additional Details
Appliances & Equipment
Microwave
Building
Built in 1922, Living area: 6250.0, 1 building, Levels: MultiSplit
Cooling
WallWindowUnits
Heating
Combination
Income
Gross Income: $230,710, Net Operating Income: $153,704
Interior Features
CeilingFans
Lot
0.1775 acres
Parking
None
Taxes
Parcel Number: 5155031017, Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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