$7,000,000
For Sale

915 S Carondelet Street

Los Angeles, CA 90006
31500 sqft | 22 beds | 0.43 acres | #25477465
Listing OfficeMarcus & Millichap
Browse 10 photos
Type:Multi-Family
Structure:House
Zone:Commercial

Description

We are pleased to present 915 S Carondelet St, a 48-unit multifamily investment opportunity in the Westlake neighborhood of Los Angeles located three blocks south of MacArthur Park between S Hoover St & James M Wood Blvd and just east of Koreatown. Unique opportunity that includes the adjacent lot, currently used for parking with 18 spaces; the lot totals 6,000 SF zoned R4-1 in a Tier 3 TOC. The building features a unit mix of one bachelor, 33 singles, six one bedrooms and eight two-bedrooms; renovated units include refinished hardwood floors, updated appliances, tile bathrooms, new cabinetry, and ceiling fans; many of the units feature exposed brick. At the asking price, the property is being offered at a 5.64% CAP rate at 9.01 GRM on current income with an additional 28% rental upside achievable as units turn through continued interior renovations. The property has a secured, gated entrance with intercom access and security cameras; common areas are well-kept and there is a community laundry room. High Walk Score of 94, the property is one mile from the Metro A-E Rail Lines, and walking distance to multiple Metro Local Lines along S Hoover St & W 8th St. This neighborhood of Westlake is ideally located with a short commute to Downtown Los Angeles, Hollywood, and Koreatown.

  • Property Details
      • Property SubtypeResidentialIncome
      • Property TypeMulti-Family
      • CountyLos Angeles
      • Original List Price$7,000,000
      • MLS #25477465
      • MLS #25477465
      • Cost7000000
      • Acres0.4298
      • Square Feet31500
      • Year Built1914
      • Bedrooms22
      • Stories4

Location

Augie MendozaReal Estate Group
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Down Payment

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10.0%

Interest Rate

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6.0%

Tax Rate

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2.6%
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Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

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