216 North Coronado Street Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90026
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,025 sqft
Price per Sqft $564
MLS Listing ID BB-24234741
Style Contemporary
Year Built 2023
Lot Size 6,002 Sqft
Property 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!
Location
State CA
County Los Angeles
Zoning LARD1.5
Interior
Interior Features Open Floorplan,Recessed Lighting
Heating Central
Cooling Central Air
Flooring Laminate
Fireplaces Type None
Laundry Electric Dryer Hookup,In Closet,Inside,Washer Hookup
Exterior
Parking Features Off Street,Paved
Garage Spaces 2.0
Pool None
Community Features Sidewalks,Street Lights
View Y/N Yes
View City Lights
Building
Lot Description Landscaped,Paved
Sewer Public Sewer