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Natalie Miranda
marketing@thewhipplegroup.com$ 3,575,000
Est. payment | /mo
31 Beds
20 Baths
11,884 SqFt
$ 3,575,000
Est. payment | /mo
31 Beds
20 Baths
11,884 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,884 sqft
Price per Sqft $300
MLS Listing ID 25549065
Bedrooms 31
HOA Y/N No
Year Built 1959
Lot Size 0.297 Acres
Property Description
We are pleased to present 627 Coronado Terrace, a 2-story, 20-unit value-add multi-family investment opportunity. The property is located in the highly desirable Echo Park submarket of Los Angeles, just 0.3 miles from Sunset Blvd, and 0.6 miles east of Silver Lake Blvd. Built in 1958, the building is comprised of 11 (2+1) and 9 (1+1) units that average approximately 594 gross square feet. The 11,884 square foot structure is situated on a 12,921 square foot, LAR3-1VL zoned lot and contains 20 parking spaces on-site. The property is separately metered for gas & electric and contains an on-site laundry room. The property is undergoing a system-wide electrical subpanel upgrade within the units. The new subpanels are interior-mounted, clearly labeled to identify serviced areas, and are expected to have a remaining useful life of 35+ years once fully installed. The Soft-Story Retrofit work has been completed. Nestled between Elysian Park, Elysian Valley, Silver Lake, and Chinatown, EchoPark is one of Los Angeles' most sought-after neighborhoods celebrated for its cultural diversity, architectural charm, and quintessential L.A. living. Boasting a Walk Score of 85, the property is ideally located just 0.9 miles from the vibrant interseciton of Sunset Blvd and Echo Park Ave intersection and 0.6 miles from the iconic Echo Park Lake. Residents enjoy seamless access to countless array of shopping, dining, entertainment, and outdoor recreation. Centrally positioned for commuter convenience, the property is 2.3 miles south of the 5 freeway, 1.5 miles south west of the 2 freeway, 0.2 miles north of the 101 and 1.7 miles west of the 110. This strategic location places the property at the heart of one of L.A.'s most dynamic and connected neighborhoods. 627 Coronado Terrace is well-positioned for a skilled value-add investor to implement a high-end unit/common area renovation program optimizing market rents, appreciation, and future returns.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Covered, Carport, Garage, Tandem, Uncovered
Total Parking Spaces 20
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5402022023
Special Listing Condition Standard
Listed by Matthew R. Kanner • Keller Williams Realty Los Feliz
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Natalie Miranda
Marketing Director | License ID: 02122928