419 Coronado Terrace

Los Angeles, CA 90026

$4,350,000
Price
33
Beds
24
Baths
20,572 Sq. Ft.
$211 / Sq. Ft.
20,572
Sq. Ft.
$211
per Sq. Ft.

Description

We are pleased to present a 24-unit multifamily portfolio consisting of three 8-unit buildings (three individual APNs) in Echo Park, all situated on the same street at 413, 419 and 431 Coronado Park Terrace. This opportunity is located just south of the 101 freeway with quick access to the 110 freeway and in close proximity to Echo Park Lake, Downtown Los Angeles, Dodger Stadium, Chinatown, the Convention Center, USC Coliseum, offering tenants convenience to numerous nearby amenities. The property...We are pleased to present a 24-unit multifamily portfolio consisting of three 8-unit buildings (three individual APNs) in Echo Park, all situated on the same street at 413, 419 and 431 Coronado Park Terrace. This opportunity is located just south of the 101 freeway with quick access to the 110 freeway and in close proximity to Echo Park Lake, Downtown Los Angeles, Dodger Stadium, Chinatown, the Convention Center, USC Coliseum, offering tenants convenience to numerous nearby amenities. The property currently operates at a collective 10.30 GRM on current rents and a 5.89% CAP, with rental upside potential to a 6.28 GRM and a 11.61% CAP on pro-forma rents. The buildings consist of 17 one-bedroom units, 5 two-bedroom units, and 2 three-bedroom units, with 3 units delivered VACANT. The tenants pay for gas, electric, and trash, and the landlord pays for water. Priced at only $211/sf and $181,250/unit with 60+% rental upside, the offering is well positioned for a value-add investor seeking to drive returns, or a local operator looking to increase their holdings within a desirable submarket. Each of the three properties were built in 1925, 1925, and 1927 respectively, and feature a total 14+ uncovered parking spaces in the rear with alley access. Contact the listing team for additional information.
  1. Listed by Casey Lins • DRE #01902650 • Brokerage DRE #01001040 • Kidder Mathews of California, Inc.

Property Details for 419 Coronado Terrace

Zoning
LAR3
Parcel Number
5157005011
Total Units
24.0
Living Area
20572
Source Living Area
Assessor
Area
Silver Lake (671)
Vacancy Rate
3%
Lot Size Area
23954
LISTING UPDATED: 11/04/2024 09:22 AM

Property Details for 419 Coronado Terrace

StatusActive
MLS #24-418709
Days on Market160
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1925
Lot Size0.55 AC / 23,954 SF
CountyLos Angeles County

Building Information for 419 Coronado Terrace

Stories2Residences-Year Built1925Building Size-Lot Size0.55 AC / 23,954 SF

Property Information for 419 Coronado Terrace

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 24
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 3
  • Type Of Units: Apartment
  • Security Features: Gated
  • Water Heaters: Yes
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $409,681
  • Net Operating Income: $256,365.00
  • Gross Income: $422,351
  • Cap Rate: 5.89%
  • Gross Rent Multiplier: $10.30
  • Total Annual Expense: 153315
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: Yes
  • Alley: Yes
  • Paved: Yes
  • Lot Acreage: 0.5499
  • Lot Size Square Feet: 23954
  • Lot Size Dimensions: 66x133
  • Source Lot Size Dimensions: Assessor
Parking Details
Parking Details
  • Parking Garage: Uncovered
  • Total Parking: 14
  • Parking Features: Uncovered
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-23-2024
  • Rent Control: Yes
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,116.00
  • Unit Actual Rent: $18,997.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 17
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,106.00
  • Unit Actual Rent: $10,529.00
  • Unit Projected Rent: $2,700.00
  • Like Units: 5
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,845.00
  • Unit Actual Rent: $5,690.00
  • Unit Projected Rent: $3,400.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $303,265.00
  • Assessed Improvement Percent: 20.06
  • Assessed Land Value: $1,208,478.00
  • Assessed Land Percent: 79.94
  • Assessed Total Value: $1,511,743.00

Property History for 419 Coronado Terrace

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 419 Coronado Terrace

Taxable ValueLand$1,232,647Additions$309,710Total$1,542,357
Tax Record2024$19,777 ($1,648 / month)
Home Facts
Total Finished SqFt6,371 SqFtAbove Grade Finished SqFt6,371 SqFtLot Size8,866 SqFtStyleMulti-Family Res (5+ Units)Year Built1925ZoningLAR3CountyLOS ANGELESAPN5157-005-011

Schools near 419 Coronado Terrace

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 1
Public - 2 to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Lake Street Primary School
PublicK to 1

Rosemont Avenue Elementary School
Public2 to 5

Virgil Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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419 Coronado Terrace is a multi-family home for sale in Los Angeles, CA 90026. This property was listed for sale on July 23, 2024 by Kidder Mathews of California, Inc., it's currently listed at $4,350,000. It has been on the market for a total of 160 days and was last sold on December 14, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Lake Street Primary School, Rosemont Avenue Elementary School and Virgil Middle School. 419 Coronado Terrace is a 33-bed, 24-bath, 20,572 sqft multi-family home built in 1925.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Kidder Mathews of California, Inc., Casey Lins, DRE #01902650

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.