915 S Carondelet Street, Los Angeles, CA 90006
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Listed Price :
$7,000,000
-
Beds :
22
-
Baths :
48
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Property Size :
31,500 sqft
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Year Built :
1914
Property Description
We are pleased to present 915 S Carondelet St, a 48-unit multifamily investment opportunity in the Westlake neighborhood of Los Angeles located three blocks south of MacArthur Park between S Hoover St & James M Wood Blvd and just east of Koreatown. Unique opportunity that includes the adjacent lot, currently used for parking with 18 spaces; the lot totals 6,000 SF zoned R4-1 in a Tier 3 TOC. The building features a unit mix of one bachelor, 33 singles, six one bedrooms and eight two-bedrooms; renovated units include refinished hardwood floors, updated appliances, tile bathrooms, new cabinetry, and ceiling fans; many of the units feature exposed brick. At the asking price, the property is being offered at a 5.64% CAP rate at 9.01 GRM on current income with an additional 28% rental upside achievable as units turn through continued interior renovations. The property has a secured, gated entrance with intercom access and security cameras; common areas are well-kept and there is a community laundry room. High Walk Score of 94, the property is one mile from the Metro A-E Rail Lines, and walking distance to multiple Metro Local Lines along S Hoover St & W 8th St. This neighborhood of Westlake is ideally located with a short commute to Downtown Los Angeles, Hollywood, and Koreatown.
Interior Features
| Bedroom Information |
| Bedrooms |
22 |
| Bathroom Information |
| Bathrooms |
48 |
| Interior Information |
| Cooling Type |
None |
Listing Information
| Address |
915 S Carondelet Street |
| City |
Los Angeles |
| State |
CA |
| Zip |
90006 |
| County |
Los Angeles |
| Listing Agent |
Neema Ahadian DRE #01346750 |
| Courtesy Of |
Marcus & Millichap |
| List Price |
$7,000,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
31,500 |
| Lot Size |
18,720 |
| Year Built |
1914 |
Listing information courtesy of: Neema Ahadian, Marcus & Millichap. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 7th, 2025 at 1:38 AM 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.
