667 S Carondelet ST new

Los Angeles,CA 90057

$ 8250000

18 Beds

59 Baths

28156 SqFt


Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 28,156 sqft

Price per Sqft $293

MLS Listing ID 24473385

Bedrooms 18

HOA Y/N No

Year Built 1917

Lot Size 0.301 Acres

Property Description

We are pleased to present Chateau Carondelet at 667 S Carondelet St, a 59-unit multi-family investment opportunity in the Westlake neighborhood of Los Angeles located two blocks west of MacArthur Park between Wilshire Blvd & 7th St and just east of Koreatown. The property features a unit mix of 41 singles and 18 one-bedrooms; many units have high ceilings and exposed brick; renovated units include refinished hardwood floors, updated appliances, tile bathrooms, new cabinetry, ceiling fans, and walk-in closets. At the asking price, the property is being offered at a 6.41% CAP rate at 8.99 GRM on current income with an additional 15% rental upside achievable as units turn through continued interior renovations. Enhancements to Chateau Carondelet include professional landscaping and robust security features such as a gated entrance with intercom access and newly installed security cameras. Significant capital expenditures have been made in both the building's infrastructure and communal areas to maintain high standards of living. Additionally, the building is separately metered for electricity, and features a laundry facility that includes three washers and three dryers managed under a lease agreement. High Walk Score of 95, the property is walking distance to the Metro A-E Rail Lines, and Metro Local Lines along Wilshire Blvd & 7th St. This neighborhood of Westlake is ideally located with a short commute to Downtown Los Angeles, Hollywood, and Koreatown. Proximity to MacArthur Park, Echo Park, Dodger Stadium, and The Broad Museum.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LAR4

Interior

Heating None

Cooling None

Fireplace No

Exterior

Parking Features None

Building

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 5141007002

Special Listing Condition Standard

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