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600 N Coronado Street

Los Angeles (City), CA 90026
  • $1,349,000
  • STATUS: Active
  • ON SITE: 64 Days
  • ID#: 21775108
Price Reduced
UPDATED: 240 min ago
$1,349,000
  • 0
    BEDS
  • 0.11
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1906
County:

School Ratings & Info

Description

Major Price Reduction! PROFORMA 8.2% CAP RATE! The beautiful property features two very well-maintained woodframe and stucco buildings with vintage, character architecture on a corner lot. Each building is two-stories and includes a mix of one-bedroom and two-bedroom apartments. The property features on-site parking with four individual spaces and an additional 4 tandem spaces, allowing for parking for 8 cars. As an investment, the Property offers investors a true value-add opportunity. With one unit vacant and fully renovated, the remaining units have rents that are well below the current market rates. Overall, there is projected upside of 73% or more in rental income that an investor can capture in the future with unit turnover and renovations. The Property is separately metered for gas and electric and also has individual water heaters, thus keeping expenses to the landlord very low.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T00:26:01.947. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
www.therealestategirl.com/homes/120694427
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600 N Coronado Street Los Angeles (City), CA 90026

  • Price: $1,349,000
  • Status: Active
  • Updated: 240 min ago
  • ID#: 21775108
0
Beds
0
Baths
0
½ Baths
0.11
Acres
1906
Built
Neighborhood:
C21 - Silver Lake - Echo Park
County:
Los Angeles
Area:
C21 - Silver Lake - Echo Park
Property Description
Major Price Reduction! PROFORMA 8.2% CAP RATE! The beautiful property features two very well-maintained woodframe and stucco buildings with vintage, character architecture on a corner lot. Each building is two-stories and includes a mix of one-bedroom and two-bedroom apartments. The property features on-site parking with four individual spaces and an additional 4 tandem spaces, allowing for parking for 8 cars. As an investment, the Property offers investors a true value-add opportunity. With one unit vacant and fully renovated, the remaining units have rents that are well below the current market rates. Overall, there is projected upside of 73% or more in rental income that an investor can capture in the future with unit turnover and renovations. The Property is separately metered for gas and electric and also has individual water heaters, thus keeping expenses to the landlord very low.
Exterior Features

Parking Features Driveway Parking Total 8

Interior Features

Appliances Refrigerator Cooling None Cooling YN No Interior Features Ceiling Fan(S)

Property Features

Association Fee 0 Gross Income 86054 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 51563 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 1 Zoning Lar3

Listing provided courtesy of Bryan Glenn of Kidder Mathews Of California, Inc.


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-24T00:26:01.947. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.
 
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