667 South Carondelet Street

Los Angeles, CA 90057

$8,250,000
Price
18
Beds
59
Baths
28,156 Sq. Ft.
$293 / Sq. Ft.
28,156
Sq. Ft.
$293
per Sq. Ft.

Description

We are pleased to present Chateau Carondelet at 667 S Carondelet St, a 59-unit multi-family investment opportunity in the Westlake neighborhood of Los Angeles located two blocks west of MacArthur Park between Wilshire Blvd & 7th St and just east of Koreatown. The property features a unit mix of 41 singles and 18 one-bedrooms; many units have high ceilings and exposed brick; renovated units include refinished hardwood floors, updated appliances, tile bathrooms, new cabinetry, ceiling fans, and walk-in...We are pleased to present Chateau Carondelet at 667 S Carondelet St, a 59-unit multi-family investment opportunity in the Westlake neighborhood of Los Angeles located two blocks west of MacArthur Park between Wilshire Blvd & 7th St and just east of Koreatown. The property features a unit mix of 41 singles and 18 one-bedrooms; many units have high ceilings and exposed brick; renovated units include refinished hardwood floors, updated appliances, tile bathrooms, new cabinetry, ceiling fans, and walk-in closets. At the asking price, the property is being offered at a 6.41% CAP rate at 8.99 GRM on current income with an additional 15% rental upside achievable as units turn through continued interior renovations. Enhancements to Chateau Carondelet include professional landscaping and robust security features such as a gated entrance with intercom access and newly installed security cameras. Significant capital expenditures have been made in both the building's infrastructure and communal areas to maintain high standards of living. Additionally, the building is separately metered for electricity, and features a laundry facility that includes three washers and three dryers managed under a lease agreement. High Walk Score of 95, the property is walking distance to the Metro A-E Rail Lines, and Metro Local Lines along Wilshire Blvd & 7th St. This neighborhood of Westlake is ideally located with a short commute to Downtown Los Angeles, Hollywood, and Koreatown. Proximity to MacArthur Park, Echo Park, Dodger Stadium, and The Broad Museum.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 667 South Carondelet Street

Zoning
LAR4
Parcel Number
5141007002
Total Units
59.0
Living Area
28156
Source Living Area
Vendor Enhanced
Area
Downtown L.A. (C42)
Vacancy Rate
1
Lot Size Area
13116
LISTING UPDATED: 12/18/2024 11:07 AM

Property Details for 667 South Carondelet Street

StatusActive
MLS #24-473385
Days on Market5
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built-
Lot Size0.30 AC / 13,116 SF
CountyLos Angeles County

Building

Building Information for 667 South Carondelet Street

Stories4Residences-Year Built-Building Size-Lot Size0.30 AC / 13,116 SF

Property Information for 667 South Carondelet Street

Community / Development
Community / Development
  • Number Of Units: 59
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $872,090
  • Net Operating Income: $528,648.00
  • Gross Income: $917,990
  • Cap Rate: 6.41%
  • Gross Rent Multiplier: $8.99
  • Actual Annual Gross Rent: $901,092.00
  • Actual Gross Annual Income: $917,990
  • Actual Rent Total: $901,092.00
  • Vacancy Allow Dollar: $45,899.00
  • Vacancy Allow Percent: 5.00%
  • Total Annual Expense: 343442
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3012
  • Lot Size Square Feet: 13116
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Three Or More
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 12-18-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,216.00
  • Unit Actual Rent: $49,873.00
  • Unit Projected Rent: $56,580.00
  • Like Units: 41
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,401.00
  • Unit Actual Rent: $25,218.00
  • Unit Projected Rent: $29,700.00
  • Like Units: 18
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,048,586.00
  • Assessed Improvement Percent: 11.84
  • Assessed Land Value: $7,808,632.00
  • Assessed Land Percent: 88.16
  • Assessed Total Value: $8,857,218.00

Property History for 667 South Carondelet Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 667 South Carondelet Street

Taxable ValueLand$7,964,804Additions$1,085,557Total$9,050,361
Tax Record2024$112,127 ($9,344 / month)
Home Facts
Total Finished SqFt28,156 SqFtAbove Grade Finished SqFt28,156 SqFtLot Size13,117 SqFtStyleMulti-Family Res (5+ Units)Year Built1917ZoningLAR4CountyLOS ANGELESAPN5141-007-002

Schools near 667 South Carondelet Street

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

Berendo Middle School
Public6 to 8

Academic Leadership Community School
Public9 to 12

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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667 South Carondelet Street is a multi-family home for sale in Los Angeles, CA 90057. This property was listed for sale on December 16, 2024 by Marcus & Millichap, it's currently listed at $8,250,000. It has been on the market for a total of 5 days and was last sold on February 13, 2017. This listing's school district is Los Angeles Unified School District. Nearby schools include Hoover Street Elementary School, Berendo Middle School and Academic Leadership Community School. 667 South Carondelet Street is a 18-bed, 59-bath, 28,156 sqft multi-family home.

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 Marcus & Millichap, Neema Ahadian, DRE #01346750

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.