$4,350,000
419 Coronado Terrace Los Angeles, CA 90026
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$4,350,000
Est. payment /mo
20,572 SqFt
Active
419 Coronado Terrace Los Angeles, CA 90026
UPDATED:
07/31/2024 12:39 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 20,572 sqft
Price per Sqft $211
MLS Listing ID CL24418709
HOA Y/N No
Year Built 1925
Lot Size 0.550 Acres
Acres 0.55
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 i
Location
State CA
County Los Angeles
Area Listing
Zoning LAR3
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Type Other, Uncovered Parking Space
Building
New Construction No
Others
Tax ID 5157005011
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Casey Lins • Kidder Mathews of California, Inc.
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