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216 N Coronado Street

Los Angeles, CA 90026

– beds
– baths
– sqft
6,002 sqft lot
2023 build
– on site

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!

Listed By CRMLS_CA / Elizabeth Maddox / Myunits.com Inc. / 818-850-8485

Last checked: Checking… • Last updated Nov 16, 2024 •

MLS# BB24234741 —

The Building

Year Built:

2023
Year Built Source:

Seller
New Construction:

No
Architectural Style:

Contemporary
Entry Level:

1
Accessibility Features:

None
Common Walls:

1 Common Wall
Building Area Total:

6025.00
Building Area Units:

Square Feet
# of Buildings:

2
Green Verification:

1
Total Number Of Units:

5
Stories Total:

3
# of Separate Gas Meters:

5
# of Separate Water Meters:

5
# of Separate Electric Meters:

5

Interior

Features:

Open Floorplan, Recessed Lighting
Levels:

Three Or More
Entry Location:

Front
Window Features:

Double Pane Windows
Flooring:

Laminate
Room Type:

Kitchen, Living Room
Fireplace:

No
Fireplace:

None
Laundry:

Electric Dryer Hookup, In Closet, Inside, Washer Hookup
Laundry:

1

Location

Directions:

Heading North on the 101 freeway take Temple St exit, turn right onto Coronado St, property will be on your left.
Latitude:

34.07095000
Longitude:

-118.27433900

The Property

Property Type:

Residential Income
Subtype:

Quadruplex
Property Condition:

Turnkey
Zoning:

LARD1.5
Lot Features:

Landscaped, Paved
Lot Size Area:

6002.0000
Lot Size Acres:

0.1378
Lot Size SqFt:

6002.00
Lot Size Source:

Assessor
View:

1
View:

City Lights, Neighborhood
Road Frontage:

City Street
Road Surface Type:

Paved
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

2085.01
Tax Tract:

94
Tax Lot:

94
Tax Annual Amount:

37740.00

The Listing

Virtual Tour
Special Listing Conditions:

Standard
Parcel Number:

5157008004

Heating & Cooling

Heating:

1
Heating:

Central
Cooling:

Yes
Cooling:

Central Air

Utilities

Sewer:

Public Sewer
Electric:

Standard
Water Source:

Public

Appliances

Appliances:

Dishwasher, Electric Oven, Gas Range, Microwave, Refrigerator
Included:

Yes

The Community

Senior Community:

No
Neighborhood:

Echo Park Adj
Features:

Sidewalks, Street Lights
Pool:

None
Private Pool:

No
Spa Features:

None
Association:

No

Parking

Parking:

Yes
Parking:

Paved, Off Street
Parking Spaces:

8.00
Uncovered Spaces:

8.00

Extra Units

Average 1 Bed Area:

397
Average 3 Bed Area:

1407
Number With Dishwasher:

5
Number With Refrigerator:

5

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Max Internet Speed

AT&T Internet

Provided by BroadbandNow®

Sale history

Date	Event	Source	Price	% Change
11/15/24 Nov 15, 2024	Listed / Active	CRMLS_CA	$3,400,000	257.9% (71.3% / YR)
4/5/21 Apr 5, 2021		CRMLS_CA	$950,000	8.6%
3/6/21 Mar 6, 2021		CRMLS_CA	$875,000

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This multifamily located in Central LA, Los Angeles, CA 90026 is currently for sale for $3,400,000. 216 N Coronado Street is a – square foot multifamily with – beds and – baths that has been on Estately for 0 days. 216 N Coronado Street is in the Central LA neighborhood of Los Angeles and has a WalkScore® of 88, making it very walkable. This multifamily is in the attendance area of Virgil Middle School, Miguel Contreras Learning Complex - School Of Social Justice, Edward R. Roybal Learning Center, Belmont Senior High School, Miguel Contreras Learning Complex - Acdemic Ldrshp Community, Miguel Contreras Learning Complex - Business And Tourism, Miguel Contreras Learning Complex - Los Angeles School Of Global Studies, Rosemont Avenue Elementary School, Lake Street Primary School, and Ramon C Cortines School Of Visual And Performing Arts.

Listing Courtesy of: CRMLS_CA and Myunits.com Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of 19:14 on Nov 15.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.