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$2,399,000
61 Days Online

820 Coronado Terrace
Los Angeles, CA 90026

For Sale|Multi-Family|Pending
County:
Los Angeles
Listed by Dana Brody of Dana Brody

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310-995-6273
820 Coronado Terrace820 Coronado Terrace820 Coronado Terrace820 Coronado Terrace
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Monthly Payment (Est.)

$15,722
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We are very pleased to exclusively offer for sale 820 Coronado Terrace, an amazing multi-family investment opportunity that includes a six unit apartment building being delivered 100% vacant plus fully approved and stamped RTI (ready-to-issue) plans for two 3+2.5 bath ADU units in a prime Echo Park/Silver Lake area, walking distance to Sunset Boulevard. The existing building is comprised of six 1 bedroom units over 2 stories, delivered totally vacant and ready to be reimagined, with excellent views of Downtown Los Angeles from the upper units. Market rents for these units once fully renovated and modernized ( ie new kitchens & baths, central HVAC, in-unit washer/dryers) will easily top $2,700 based on market rents of comparable units in the area. In addition, the property also features fully approved and stamps RTI (ready to issue permits) plans for two 3+2.5 bath units, averaging 1,056 square feet with private patios, which will both easily rent for $4,500 each or more once completed. Once the units are renovated and the ADU units are built, the proforma monthly income is $25,200, or $302,400 in gross annual income. At that time, we estimate the value of this 8 unit property once completed at $4,200,000, which is a 4.7% cap and a 13.9 GRM on the above mentioned proforma income. Property Highlights: *Tremendous Value-Add Property in Prime Silver Lake/Echo Park* *6 1 Bedroom Units Delivered 100% Vacant* *Fully Approved RTI Plans for Two 3+2.5 Bath Units Avg. 1,056 SF* *91 Walk Score - A True Walker's Paradise* *Proforma Rents Once Renovated is $2,700 for the 1 Bedrooms* *New Construction 3+2.5 ADU Units Will be $4,500+* *Once Units Renovated + ADUS Built - $302,000 Gross Income * *$4,200,000 Future Value Once Completed 4.7% Cap & 13.9 GRM * 820 Coronado Terrace offers an investor the rare opportunity to purchase a fully vacant 6 unit building ready to be reimagined and re-leased at market rents once fully renovated, plus fully approved RTI plans for two 3+2.5 ADU units which will make this into an 8 unit apartment building grossing well over $300,000 per year! Amazing chance to buy a ready to roll multi-family value-add project where you can put your own design touches, personalize the units and achieve top market rents once completed.

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Listing Snapshot
Price 
$2,399,000
Days Online 
61 Days
Bedrooms 
12
Inside Area (SqFt) 
4,619 sqft
Total Baths 
12
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.1313 Acres
Year Built 
1957
MLS Number 
22184339
Status 
Pending
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
11 hours agoListing updated with changes from the MLS
12 hours agoStatus changed to Pending
a month agoPrice changed to $2,399,000
2 months agoListing first seen online
General Features
Parking 
DrivewayGarageOn StreetTandem
Parking Spaces 
0
Number of Stories 
2
Acreage 
0.1313
Security 
Gated Community
Zoning 
LARD1.5
Listing Conditions 
Standard
Property Condition 
Fixer
Direction Faces 
West
Interior Features
Heating 
Wall Furnace
Flooring 
Tile
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Exterior Features
View 
City Lights
Community Features
Community Features 
Gated
Senior Community 
No
MLS Area 
C21 - Silver Lake - Echo Park
Security Features 
Gated Community


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. The 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, the 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.

Neighborhood & Commute
Source: Walkscore
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