Property Detail
Description
406 S Coronado St | 13-Unit Value-Add Multifamily in Westlake, Los Angeles. Built in 1922 on a 7,732 SF LAR4 lot with 6,250 SF of improvements, this renovated asset features a desirable unit mix of (12) studio + den units and (1) studio. The property offers immediate income upside through lease-up of one vacant unit and mark-to-market rent growth, with average in-place rents approximately 17% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,200,000 ($169,231/unit | $352/SF) with a 7.04% in-place cap rate and 8.63% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.
Map Location
Listing provided courtesy of Taylor Avakian of Lyon Stahl Investment Real Estate, Inc.. Last updated 2026-05-09 08:11:28.000000. Listing information © 2026 CRMLS.
John Collins
DRE# 01948188
888 Prospect St. Suite 140
La Jolla, CA 92037
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858.252.0200
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Address
888 Prospect St. Suite 140 La Jolla CA 92037
Coldwell Banker Realty, CalBRE# 00616212
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