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$ 2,795,000
Est. payment /mo
New
676 S Coronado ST Los Angeles, CA 90057
29 Baths
15,678 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 15,678 sqft
Price per Sqft $178
MLS Listing ID 26843647
HOA Y/N No
Year Built 1922
Lot Size 6,899 Sqft
Property Description
676 South Coronado Street is a rare centrally located multifamily opportunity at the convergence of Downtown Los Angeles, MacArthur Park, and Westlake with immediate access to major employment centers, cultural institutions, and transit corridors. A Walk Score of 96 and multiple Metro Rail stations within half a mile support car-free daily living and durable renter demand. The property pairs vintage character with comprehensively modernized systems a combination increasingly rare at this price point. The almost all-studio configuration continues to outperform on rent-per-square-foot across the central LA market. Recent capital investment includes:Brand-new roof (2024) a significant deferred maintenance item already off the table, Fully upgraded electrical system reduced maintenance exposure and lower insurancecosts, All-copper plumbing throughout, Brand-new water heaters, Individually metered gas and electricity uncommon for buildings of this vintage, Several vacant units immediate upside without turnover delays. These improvements substantially reduce near-term capital requirements and position the next owner for efficient, low-friction operations from day one.Investment Highlights: Approximately 25% conservative rental upside is supported by comparables across Downtown LA, Koreatown, and Westlake. The asset is priced attractively relative to the broader central Los Angeles market: $96,379 per unit, $178 per square foot, Sub-8.0 gross rent multiplier, ~7.0% cap rate on in-place operations. Residents enjoy walkable access to Downtown LA and the Financial District, LA Live and the Convention Center, The Broad, MOCA and Walt Disney Concert Hall, Grand Park and the Civic Center, the Historic Core and Fashion District, and Koreatown's extensive dining and retail. This concentration of employment, culture, and lifestyle amenities underpins consistent, long-term renter demand.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR4P
Interior
Heating Forced Air
Cooling None
Fireplace No
Exterior
Parking Features None
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5141007009
Special Listing Condition Standard
Listed by Joshua Cohen Keller Williams Realty #01346713
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