216 N Coronado ST, Los Angeles, CA 90026 – BB24234741

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$3,400,000

Est. payment - /mo

6,002 Sqft Lot

Active

216 N Coronado ST Los Angeles, CA 90026

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Jeff Whittington

jeff@whittingtonre.com +1(858) 361-9090

UPDATED:

12/05/2024 05:15 AM

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID BB24234741

Construction Status Turnkey

HOA Y/N No

Year Built 2023

Annual Tax Amount $37,740

Lot Size 6,002 Sqft

Property Description

216 N Coronado St, a rare new construction fourplex + ADU that’s walking distance to Echo Park Lake. This property is a true cash cow, actively thriving on the short-term rental market thanks to its modern design and ultra-trendy location near Echo Park and Silver Lake. Just moments away from popular destinations like Bloom & Plume Coffee, Tribal Cafe, and Target on Temple, it provides the perfect mix of convenience and style. With flexibility to be sold either with management in place for a seamless continuation on the short-term market or vacant, it’s a turnkey, high-yield investment in an area with exceptional rental demand. In addition to this luxury project, the seller is open to selling the twin property next door. This adjacent property consists of four 3-bedroom, 3.5-bathroom units with value-add potential for one or two ADUs. Opportunity to own 9-units (with value add) on the same street does not come along often! The properties are available for purchase individually or as a package. Inquire for pricing.

216 N Coronado St features four 3-bedroom, 3.5-bathroom units and a 1-bedroom, 1-bathroom ADU, each designed with spacious, open floorplans and private outdoor spaces. The 3-bedroom units come with private rooftop decks, while the ADU offers its own private yard, making them all highly desirable for renters. This impressive property boasts a cap rate of 5.40% on the standard rental market, offering strong financial returns for investors looking for a long-term, income-generating asset.

In addition to the high return, buyers will enjoy other perks including tons of parking, tastefully designed drought tolerant landscaping, a 1-year builder’s warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters for years to come. This one-of-a-kind opportunity will not last long!

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LARD1.5

Interior

Interior Features Open Floorplan, Recessed Lighting

Heating Central

Cooling Central Air

Flooring Laminate

Fireplaces Type None

Fireplace No

Appliance Dishwasher, Electric Oven, Gas Range, Microwave, Refrigerator

Laundry Washer Hookup, Electric Dryer Hookup, Inside, Laundry Closet

Exterior

Parking Features Off Street, Paved

Pool None

Community Features Street Lights, Sidewalks

View Y/N Yes

View City Lights, Neighborhood

Accessibility None

Total Parking Spaces 8

Private Pool No

Building

Lot Description Landscaped, Paved

Story 3

Entry Level Three Or More

Sewer Public Sewer

Water Public

Architectural Style Contemporary

Level or Stories Three Or More

New Construction No

Construction Status Turnkey

Others

Senior Community No

Tax ID 5157008004

Acceptable Financing Submit

Listing Terms Submit

Special Listing Condition Standard

Listed by Elizabeth Maddox • Myunits.com Inc. • 818-850-8485

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Jeff Whittington

Broker Associate | License ID: 01893647

+1(858) 361-9090

216 N Coronado ST Los Angeles, CA 90026

Jeff Whittington

Key Details

Location

Interior

Exterior

Building

Others

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216 N Coronado ST