Active
1032 N Coronado Street
Los Angeles CA, 90026
$17,299,000
$873.69 per sqft
Active
19,800 sqft
Commercial
Built in 2024
Listed by Wailani O'Herlihy with Sotheby's International Realty 310-980-1195
WESTMAC Commercial Brokerage Company and Sotheby's International Realty are pleased to present the opportunity to acquire 1032 N Coronado Street, a multifamily property in Silver Lake, steps away from bustling Sunset Boulevard. Construction on this multifamily property was completed in 2024, and tenants have begun moving in. Nineteen of the thirty-three units are leased so far. This newly constructed property comprises thirty-three (33) units. The building is approximately 19,800 SF on approximately 7,500 SF of land. There are three (3) studios, three (3) balcony loft units, twenty-five (25) one-bedroom units, and two (2) two-bedroom units, spread out among four (4) floors above grade. Four (4) of the units are low-income. All units feature high-end cabinetry imported from Spain, as well as brand-new black brushed stainless steel appliances, including custom built-in dishwashers. Rental rates range from $2,000 to $4,300 per month. Tenants can enjoy two floors of secured parking totaling twenty-six (26) spaces, and a rooftop deck with cabanas and a gym that overlooks the expansive views of Silver Lake, Hollywood, Griffith Park, and beyond. The location of this property is second to none. It is situated on the border of Silver Lake and Echo Park, on the corner of Coronado and Sunset Boulevard. This desirable corner of Los Angeles is full of hip restaurants, bars, coffee shops, boutique stores, fitness studios, and more. The Silver Lake Farmers' Market occurs on Tuesdays and Saturdays just a few blocks from the property. Popular restaurants Silverlake Ramen, Greekman's, and Pijja Palace are only a three-minute walk from the property. The neighborhood has a Walk Score of 93. Coronado Street connects directly with the 101 freeway. Building tenants need only drive one minute to hop on the freeway, connecting them to Downtown LA, Hollywood, and beyond. A few blocks down on Sunset is Glendale Boulevard, which connects to the 2 freeway going to Northeast LA and Glendale. Adjacent to the subject property is a 603 bus stop, which runs from Downtown LA, through Silver Lake and Echo Park, and into Atwater Village and Glendale. On the other corner is the 2 bus, which travels from South Central to Echo Park, down Sunset Boulevard to UCLA in Westwood. USC is only a 10-minute drive from the subject property, and there are five major medical centers within two miles, including the new GenevaCho Medical Center. This is an excellent opportunity for a multifamily investor to own property in an ideal Silver Lake location where rental rates are notoriously high.
24404233
MLSⓇ ID
July 23, 2024
Listed
August 30, 2024
Updated
Map
1032 N Coronado Street
Los Angeles CA, 90026
Interior Features
Total Stories
5
Fireplace
No
Cooling
Yes
Heating
Yes
Heating Description
Forced Air
Exterior/Building Features
Lot Size
0.17 Acres
Other Property Details
Area Name
C21 - Silver Lake - Echo Park
Garage
No
Parking Total
26
View
No
County
Los Angeles
Pool
No
Zoning
LAC2
Listing Contact: 310-456-6431
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 8/30/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
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Data last updated on 8/30/2024 at 7:08 PM UTC