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$7,750,000
Est. payment /mo
33 Beds
37 Baths
26,000 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 26,000 sqft
Price per Sqft $298
MLS Listing ID 26640807
Bedrooms 33
HOA Y/N No
Year Built 1991
Lot Size 0.268 Acres
Property Description
511 S Carondelet St | 29-Unit Non-RSO Multifamily in Central Los Angeles. Built in 1991 on a 11,674 SF LAR4 lot with 27,284 SF of improvements, this well-positioned asset features a strong unit mix of (4) studios, (17) 1-bed/1-bath, and (8) 2-bed/2-bath units plus 48 on-site parking spaces. The property is not subject to rent control (Non-RSO) and offers clear value-add upside through lease-up of two vacant units and mark-to-market rent growth across the rent roll. Offered at $7,750,000 ($267,241/unit | $284/SF) with a 6.04% in-place cap rate and 7.33% pro forma cap rate, supported by additional income from parking, laundry, and fees.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR4
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Dishwasher, Microwave
Exterior
Parking Features Controlled Entrance, Garage
Total Parking Spaces 48
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5155029002
Special Listing Condition Standard
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Listed by Taylor Avakian Lyon Stahl Investment Real Estate, Inc.
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David Burchell
Team Leader & Realtor | License ID: #02033130
Team Leader & Realtor License ID: #02033130



