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$ 3,700,000
Est. payment | /mo
16 Beds
20 Baths
11,430 SqFt
$ 3,700,000
Est. payment | /mo
16 Beds
20 Baths
11,430 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,430 sqft
Price per Sqft $323
MLS Listing ID 25549051
Bedrooms 16
HOA Y/N No
Year Built 1955
Lot Size 0.269 Acres
Property Description
We are pleased to present 685 S Coronado St, a 2-story, 20-unit value-add multi-family investment opportunity. The property is located in the La Fayette Park/Mid Wilshire submarket of Los Angeles, just 0.1 mile south of Wilshire Blvd and 0.7 miles east of Vermont Ave. Built in 1955, the building is comprised of 16 (1+1) and 4 Singles units that average approximately 572 gross square feet. The 11,430 square foot structure is situated on a 11,700 square foot, LAR4-2 zoned lot and contains 11 parking spaces on-site. The property is separately metered for gas & electric and contains an on-site laundry room. Electrical upgrades include the installation of GFCI outlets in key locations such as kitchens, restrooms, and exterior areas, enhancing safety and aligning with modern standards. Additionally, visible wiring throughout the property is plastic-coated, indicating the use of updated, code-compliant materials. The Soft-Story Retrofit work has been completed and the property is fully compliant with SB 721. All required inspections of elevated exterior elements have been completed, with all identified repairs performed in compliance with California state regulations and Los Angeles local standards. Boasting a Walk Score of 94, the property is ideally located in the heart of Westlake/MacArthur Park, just moments from the vibrant intersection of Wilshire Blvd and Alvarado St, and 0.2 miles from historic MacArthur Park. Residents enjoy easy access to a wide array of shopping, dining, entertainment, and recreational options throughout Westlake, Koreatown, Downtown Los Angeles, and nearby neighborhoods such as Echo Park and Silver Lake. Centrally located, the property offers excellent connectivity, positioned 1.3 miles west of the 110 Freeway, 1.7 miles north of the 10 Freeway, 1.2 miles east of the 101 Freeway, and approximately 3.8 miles from the 5 Freeway, providing convenient access to Greater Los Angeles.685 S Coronado St is well-positioned for a skilled value-add investor to enhance building value through strategic unit and common area upgrades. This opportunity offers approximately 43%+ rental upside, presenting a clear path to increased income, appreciation, and long-term returns.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR4
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Covered, Carport
Total Parking Spaces 11
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5141008004
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