216 N Coronado Street
Los Angeles, CA 90026
Active for $3,400,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 6,002 sqft
| MLS | BB24234741 |
| Year Built | 2023 |
| Property Type | Quadruplex |
| County | Los Angeles |
| Status | Active |
| Active | $3,400,000 |
| Structure Size | N/A sqft |
| Lot Size | 6,002 sqft |
| Beds | N/A |
| Baths | N/A |
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!
Listing information courtesy of: Elizabeth Maddox, Myunits.com Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of 11/23/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Location
Contact a Local Realtor®
Nadia Sanchez
REALTOR®
Direct: 661.902.3767
Email: Email Me
DRE: 02108632
DRE #01873088
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