Property listed by Keller Williams Realty Los Feliz, Matthew R. Kanner 323-300-1000
$3,095,000
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… Read More 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. Read Less
Listing Snapshot
Days Online
121
Last Updated
Property Type
Other
Beds
16
Square Ft.
11,430
Lot Size
0.27 Acres
Year Built
1955
MLS Number
25549051
30 Days Snapshot Of 90057
$557k
-5%
(avg) sold price
5
0%
homes sold
117
-2%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1955, Building area total: 11,430, Levels: Two, Living area: 11430, 2 stories, 1 building
Heating
WallFurnace
Income
Gross income: $357,293, Net operating income: $217,252
Lot
0.2687 acres, 11,704 square feet, Size: 11,704
Parking
11 totals parking, Covered, Carport
Property
Zoning: LAR4
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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