4
See all 4 photos
$8,250,000
Est. payment /mo
18 BD
59 BA
28,156 SqFt
New
667 S Carondelet ST Los Angeles, CA 90057
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UPDATED:
12/24/2024 01:05 PM
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
Listed by Neema Ahadian • Marcus & Millichap
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