915 S Carondelet St Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90006
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 31,500 sqft
Price per Sqft $222
MLS Listing ID 25-477465
Bedrooms 22
Year Built 1914
Lot Size 0.430 Acres
Acres 0.43
Property 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.
Location
State CA
County Los Angeles
Area Downtown L.A.
Zoning LAR4
Rooms
Other Rooms None
Interior
Heating None
Cooling None
Equipment None
Exterior
Parking Features None
Garage Spaces 18.0
Building
Story 4
Level or Stories Three Or More
Others
Special Listing Condition Standard