216 N Coronado ST new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90026
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
Garage Off Street,Paved
Pool None
Community Features Street Lights,Sidewalks
View Y/N Yes
View City Lights,Neighborhood
Accessibility None
Parking Type Off Street,Paved
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