820 Coronado Ter

Los Angeles, CA, 90026

$2,400,000

$519 per ft²
$2,400,000
$519 per ft²
Active
Active
 - For Sale
beds
12 Beds
baths
12 Baths
carpenters-square
4,619 ft²
property_type
Multi-family
calendar
Built 1957
We are pleased to present 820 Coronado Terrace, a 6 unit apartment building being delivered 100% vacant plus fully approved RTI plans for two 3+2.5 bath ADU units at the rear of the property in the prime Echo Park/Silver Lake area. The existing six units is comprised of six 1 bedroom units, vacant and ready to be reimagined, with excellent views of Downtown Los Angeles from the upper units. Market rents for these units once fully renovated and modernized will easily reach $2,700. The property also features fully approved RTI plans for two 3+2.5 bath units, averaging 1,056 square feet each will easily rent for $4,500 each or more once completed. Once the units are renovated and the ADU units are built, the proforma monthly income is $25,200, or $302,400 in gross annual income. At that time, we estimate the value of this 8 unit property once completed at $4,200,000, which is a 4.7% cap and a 13.9 GRM on the above mentioned proforma income. Property Highlights: *Tremendous Value-Add Property in Prime Silver Lake/Echo Park* *6 1 Bedroom Units Delivered 100% Vacant* *Fully Approved RTI Plans for Two 3+2.5 Bath Units Avg. 1,056 SF* *91 Walk Score - A True Walker's Paradise* *Proforma Rents Once Renovated is $2,700 for the 1 Bedrooms* *New Construction 3+2.5 ADU Units Will be $4,500+* *Once Units Renovated + ADUS Built - $302,000 Gross Income * *$4,200,000 Future Value Once Completed 4.7% Cap & 13.9 GRM * 820 Coronado Terrace offers an investor the rare opportunity to purchase a fully vacant 6 unit building ready to be reimagined and re-leased at market rents once fully renovated, plus fully approved RTI plans for two 3+2.5 ADU units which will make this into an 8 unit apartment building grossing well over $300,000 per year!
MLS® ID:
22-184339
Listed:
7/28/22
Updated:
8/8/22

Interior Features

Total Bedrooms
12
Total Bathrooms
12
Floor Description
Wood Laminate, Tile
Cooling
Wall Unit(s)
Heating
Wall

Exterior/Building Features

Lot Size
5,718 ft² lot
Architectural Style
California Bungalow

Other Property Details

Garage
No
Parking
Tandem, Driveway, On street
View
Y
County
Los Angeles
Pool
No
Total Stories
2
Zoning
LARD1.5

 

Courtesy of Dana Brody, Dana Brody

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Rory Posin shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2022 Combined L.A./Westside MLS. All rights reserved.

Data last updated 8/8/22

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