406 S Coronado Street

About This Property

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.

Neighborhood

This property is located in Los Angeles. Want to learn more about the area?

Listing courtesy of Lyon Stahl Investment Real Estate, Inc.

Listing data from CRMLS. Deemed reliable but not guaranteed.