$2,375,000
Villa Coronado is a well-maintained 14-unit garden-style apartment property located at 534 and 542 South Coronado Street in the Westlake District of Los Angeles. The property consists of two separate buildings situated on individual APNs and offers classic architectural character, operational flexibility, and long-term investment appeal. Villa Cornado appeals to a broad investor audience due to its highly attractive value metrics, strong cash-on-cash return, attractive leverage & loan options, RUBS program offsetting water cost, spacious units, and ±21% rental upside potential. Located on a quiet, tree-lined residential street, the property features mature landscaping, garden pathways, and landscaped seating areas that contribute to a private and cohesive residential setting. Constructed in 1922 and 1924, the two wood-frame buildings feature flat roofs and smooth stucco exteriors consistent with early Los Angeles architectural design. The property contains approximately 11,430 square feet of residential living area across two parcels totaling approximately 12,804 square feet and is zoned LAR3. The unit mix includes two studio units, ten one-bedroom units, one two-bedroom unit, and one two-bedroom-plus-den unit. Units feature open layouts, high ceilings, natural light, and original architectural details such as crown molding and hardwood-style flooring. Select units include individual hot water heaters and in-unit washer and dryer hookups. Some units feature dual entry points. Parking is accessed from Ocean View Avenue and includes four surface spaces and four enclosed garages. The property has undergone improvements over time and remains well-maintained. The Westlake District is located just west of Downtown Los Angeles and offers convenient access to surrounding neighborhoods, including Koreatown and Hollywood. The area features a diverse mix of historic, mid-century, and modern residential architecture. MacArthur Park serves as a central neighborhood amenity and includes landscaped open space and the Levitt Pavilion, which hosts public programming and live performances. Alvarado Street and Wilshire Boulevard function as key commercial corridors, while Metro rail and bus lines provide connectivity throughout the greater Los Angeles region.
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Listed by Raymond Rodriguez with Equity Union (805) 892-8119
Property Type
Apartment
Status
Active
MLS Number
SR26000511
Year Built
1924
Lot Size
0.29 acres