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Los Angeles, CA 90026 316 N Coronado Street

$1,900,000

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Presented By: Melanie Guillen with Lee & Associates Los Angeles; 323-702-3850
  • MLS# DW24076478
  • 04/17/2024
  • Request Tour
  • Request Info
  • BedBeds • 16
  • BathBaths • 8
  • FootageSQFT • 4,714

Home Details

We are pleased to present an 8 multi- unit residential property located in the thriving historic Filipino town community, also known as HiFi, which is known for its diverse culinary scene. It is closely bordered by the eclectic and popular neighborhoods of Silverlake and Echo Park. Its central location provides easy access to the city’s amenities and attractions, including a multitude of dining and entertainment options. Built in 1958, this multi-unit investment property, consists of eight units with 7 on-site allocated parking spaces. Each unit features two-bedrooms with 1 bath. Five units will be delivered vacant and are therefore primed for transformation. This property offers the perfect canvas for investors looking to revitalize and enhance rental units in a sought-after location, with an easy to operate cash flow property and long term rent appreciation. The 5 vacant units can be rented at market rents with value-added upgrades that maximize tenant appeal. Schedule a tour or contact us for a financial summary for a breakdown of revenue, expenses, NOI, and cap rate.
Presented By: Melanie Guillen with Lee & Associates Los Angeles; 323-702-3850

Interior Features for 316 N Coronado Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem2CommonWalls
Electric On Property Y/NNo
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringTile
Heating Y/NYes
Laundry FeaturesNone
Street SuffixStreet
Total Stories2

Other Rooms

Entry Level1

General for 316 N Coronado Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate9.14
Carport Spaces0.0
Carport Y/NNo
CityLos Angeles
Community FeaturesDogPark, Hiking, Urban
CoolingNone
CountyLos Angeles
Current FinancingOther
Days on Market4
DirectionsCross Streets are Coronado Street and Temple Street
ElectricStandard
Entry Locationfloor level
Garage Spaces0.0
Garage Y/NNo
Gross Income240000.0
HOA0.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense3810.0
Interior FeaturesUnfurnished
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCashtoNewLoan
Lot Size Square Feet6689.0
MLS AreaC21 - Silver Lake - Echo Park
MobileHomeRemainsYNNo
Net Operating Income183187.0
New ConstructionNo
Number of Units Leased3
Open Parking Spaces7.0
Operating Expense56813.0
Pool FeaturesNone
PossessionSeeRemarks
Private PoolNo
Property Attached Y/NYes
Property ConditionRepairsCosmetic
Property Sub Type AdditionalMixedUse
Property SubTypeMixedUse
Property TypeResidentialIncome
Rent Control Y/NYes
RoofShingle
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Street NameCoronado
Tax Lot10
Taxes$22,800
Tenant PaysAllUtilities
Total Actual Rent2742.0
Total Units8
Trash Expense4257.4
UtilitiesElectricityAvailable, NaturalGasAvailable, SewerConnected, WaterAvailable
ViewNone
View Y/NNo
Water Sewer Expense2425.5
Waterfront Y/NNo
Year Built1958
Year Built SourceAssessor
ZoningLAR3

Exterior for 316 N Coronado Street

Building Area Total4714.0
Crops Included Y/NNo
FencingWroughtIron
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem01UnitAcre
Lot Size Acres0.1536
Lot Size Area6689.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters8
Number of Separate Gas Meters8
Number of Separate Water Meters0
Open Parking Y/NNo
Parking FeaturesAssigned, Driveway
SpaNo
Total Parking7.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $1,900,000
MLS#DW24076478
List Date 04/17/2024
Property Type Multi-Family
Phone 714.964.3311
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*According to the National Association of Realtors