Homes for sale - 915 S Carondelet ST, Los Angeles, CA 90006

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Ernie Caponera

ernie@newport-properties.com +1(714) 606-0926

$7,000,000

Est. payment - /mo

22 Beds

48 Baths

31,500 SqFt

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UPDATED:

01/14/2025 12:57 AM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 31,500 sqft

Price per Sqft $222

MLS Listing ID 25477465

Bedrooms 22

HOA Y/N No

Year Built 1914

Lot Size 0.430 Acres

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.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LAR4

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features None

Total Parking Spaces 18

Building

Story 4

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 5136001005

Special Listing Condition Standard

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Listed by Neema Ahadian • Marcus & Millichap

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(714) 606-0926

ernie@newport-properties.com

2747 E COAST HWY Unit 200, CORONA DEL MAR, California, 92625, USA

915 S Carondelet ST Los Angeles, CA 90006