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$ 1,795,000
Est. payment | /mo
12 Beds
10 Baths
7,594 Sqft Lot
$ 1,795,000
Est. payment | /mo
12 Beds
10 Baths
7,594 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26115568
Bedrooms 12
Lot Size 7,594 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
( 12.8%+ cap rate at as-is ) and positive cash flow from day one of stabilization. Rare hilltop 6-unit multifamily development opportunity in Westlake with panoramic Downtown LA skyline views. Approved plans, secured permits, and approximately 75% of construction completed secured entitlements in place with a clear, executable path to stabilization. Priced significantly below completed market value, offering a compelling acquisition basis with substantial built-in equity for the experienced buyer. LAR3 zoning | 7,591 SF lot | 6,780 SF building | Two stories | Five 1-car garages | Separately metered units. Unit mix includes two (3-bedroom 3bth) two 3-bedroom 2 bath) and (2-bedroom-2 bath) configurations designed for the high-demand urban rental market. Stabilized proforma projects strong annual gross rent. Located minutes from DTLA, Koreatown, Echo Park, Silver Lake, MacArthur Park Metro (Purple & Red Lines), the 110 Freeway, LA Live, and the Fashion District. One of LA's most structurally undersupplied rental corridors with strong long-term appreciation fundamentals. Sold AS-IS. Buyer to independently verify all permits, plans, unit configurations, square footage, and development potential.
Location
State CA
County Los Angeles
Zoning Seller
Direction South of Beverly/West of Alvarado
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5155033016
Acceptable Financing Cash
Listing Terms Cash
Virtual Tour https://snapshot26.aryeo.com/sites/253-s-carondelet-st-los-angeles-90057-24456824/branded
Listed by Veronica Valencia, DRE#01191052 Tauler Hughes California Realty
Nearby Locations
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