915 S Carondelet Street, Los Angeles, CA 90006 (MLS # 25477465)
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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.
| DAYS ON MARKET | 168 | LAST UPDATED | 1/6/2025 |
|---|---|---|---|
| YEAR BUILT | 1914 | COMMUNITY | Downtown L.A. |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | Downtown L.A. |
| GARAGE | None |
| HEAT | None |
| LOT | 0.43 acre(s) |
| PARKING | None |
| STORIES | 4 |
| ZONING | LAR4 |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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