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216 N Coronado St, a rare new construction fourplex + ADU that’s walking distance to Echo Park Lake. This property is a true cash cow, actively thriving on the short-term rental market thanks to its modern design and ultra-trendy location near Echo Park and Silver Lake. Just moments away from popular destinations like Bloom & Plume Coffee, Tribal Cafe, and Target on Temple, it provides the perfect mix of convenience and style. With flexibility to be sold either with management in place for a seamless continuation on the short-term market or vacant, it’s a turnkey, high-yield investment in an area with exceptional rental demand. In addition to this luxury project, the seller is open to selling the twin property next door. This adjacent property consists of four 3-bedroom, 3.5-bathroom units with value-add potential for one or two ADUs. Opportunity to own 9-units (with value add) on the same street does not come along often! The properties are available for purchase individually or as a package. Inquire for pricing.216 N Coronado St features four 3-bedroom, 3.5-bathroom units and a 1-bedroom, 1-bathroom ADU, each designed with spacious, open floorplans and private outdoor spaces. The 3-bedroom units come with private rooftop decks, while the ADU offers its own private yard, making them all highly desirable for renters. This impressive property boasts a cap rate of 5.40% on the standard rental market, offering strong financial returns for investors looking for a long-term, income-generating asset.In addition to the high return, buyers will enjoy other perks including tons of parking, tastefully designed drought tolerant landscaping, a 1-year builder’s warranty, brand new EVERYTHING, little to no maintenance, separate meters for gas, water & electric, and extreme desirability amongst renters for years to come. This one-of-a-kind opportunity will not last long!
Property Type(s):
Residential Income
| Last Updated | 11/15/2024 | Year Built | 2023 |
|---|---|---|---|
| Community | Silver Lake - Echo Park | County | Los Angeles |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Electric Oven, Gas Range, Microwave, Refrigerator |
| AREA | Silver Lake - Echo Park |
| GARAGE | Off Street, Paved |
| HEAT | Central |
| HOA DUES | 0 |
| INTERIOR | Open Floorplan, Recessed Lighting |
| LOT | 6002 sq ft |
| LOT DESCRIPTION | Landscaped, Paved |
| PARKING | Off Street,Paved |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 3 |
| STYLE | Contemporary |
| TAXES | 37740 |
| UTILITIES | Electric: Standard |
| VIEW | Yes |
| VIEW DESCRIPTION | City Lights,Neighborhood |
| WATER | Public |
| ZONING | LARD1.5 |
Location
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