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$4,350,000
419 Coronado TER Los Angeles, CA 90026
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$4,350,000
Est. payment /mo
33 BD
24 BA
20,572 SqFt
Active
419 Coronado TER Los Angeles, CA 90026
UPDATED:
11/04/2024 05:33 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
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.