419 Coronado Terrace

Los Angeles, CA 90026

$4,350,000

List Price

33

bed Beds

24

shower Baths

20,572 sqft

straighten / sqft

1925

calendar_month Built

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.

Listing Information

List Price $4,350,000
Status Active
MLS 24418709
Type Residential Income
Year Built 1925
Lot Size 23,954
Structure Size 20,572
DOM 21
Courtesy Of Kidder Mathews of California, Inc.
Listing Agent Casey Lins DRE#01902650

Interior Features

Total Bedroom
Bedrooms 33
Total Bathroom
Bathrooms 24
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Casey Lins, Kidder Mathews of California, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:51 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.