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Levon Arzumanyan

levon.a@theagencyre.com +1(213) 414-8088

$ 4,350,000

Est. payment -/mo

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Active

419 Coronado TER Los Angeles, CA 90026

33 Beds

24 Baths

20,572 SqFt

UPDATED:

09/30/2024 06:51 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 20,572 sqft

Price per Sqft $211

MLS Listing ID 24418709

Bedrooms 33

HOA Y/N No

Year Built 1925

Lot Size 0.550 Acres

Acres 0.5499

Lot Dimensions Assessor

Property Description

We are pleased to present a 24-unit multifamily portfolio consisting of three 8-unit buildings (three individual APNs) in Echo Park, all situated on the same street at 413, 419 and 431 Coronado Park Terrace. This opportunity is located just south of the 101 freeway with quick access to the 110 freeway and in close proximity to Echo Park Lake, Downtown Los Angeles, Dodger Stadium, Chinatown, the Convention Center, USC Coliseum, offering tenants convenience to numerous nearby amenities. The property currently operates at a collective 10.30 GRM on current rents and a 5.89% CAP, with rental upside potential to a 6.28 GRM and a 11.61% CAP on pro-forma rents. The buildings consist of 17 one-bedroom units, 5 two-bedroom units, and 2 three-bedroom units, with 3 units delivered VACANT. The tenants pay for gas, electric, and trash, and the landlord pays for water. Priced at only $211/sf and $181,250/unit with 60+% rental upside, the offering is well positioned for a value-add investor seeking to drive returns, or a local operator looking to increase their holdings within a desirable submarket. Each of the three properties were built in 1925, 1925, and 1927 respectively, and feature a total 14+ uncovered parking spaces in the rear with alley access. Contact the listing team for additional information.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LAR3

Interior

Heating Wall Furnace

Cooling None

Inclusions 413 & 431 Coronado Terrace, Los Angeles, CA 90026 - APNS: 5157-005-010 & 5157-005-013

Fireplace No

Exterior

Garage Uncovered

Community Features Gated

Parking Type Uncovered

Total Parking Spaces 14

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5157005011

Security Features Gated Community

Special Listing Condition Standard

Listed by Casey Lins • Kidder Mathews of California, Inc.

Levon Arzumanyan

Director, Estates Division | License ID: 01836944

+1(213) 414-8088

Levon Arzumanyan

419 Coronado TER Los Angeles, CA 90026

Key Details

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Interior

Exterior

Building

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419 Coronado TER