253 S Carondelet
Los Angeles, CA 90057
$1,795,000
About This Home
( 12.8%+ cap rate at as-is ) and positive cash flow from day one of stabilization. Rare hilltop 6-unit multifamily development opportunity in Westlake with panoramic Downtown LA skyline views. Approved plans, secured permits, and approximately 75% of construction completed — secured entitlements in place with a clear, executable path to stabilization. Priced significantly below completed market value, offering a compelling acquisition basis with substantial built-in equity for the experienced buyer. LAR3 zoning | 7,591 SF lot | 6,780 SF building | Two stories | Five 1-car garages | Separately metered units. Unit mix includes two (3-bedroom 3bth) two 3-bedroom 2 bath) and (2-bedroom-2 bath) configurations designed for the high-demand urban rental market. Stabilized proforma projects strong annual gross rent. Located minutes from DTLA, Koreatown, Echo Park, Silver Lake, MacArthur Park Metro (Purple & Red Lines), the 110 Freeway, LA Live, and the Fashion District. One of LA's most structurally undersupplied rental corridors with strong long-term appreciation fundamentals. Sold AS-IS. Buyer to independently verify all permits, plans, unit configurations, square footage, and development potential.
Property Details
Location
Listed by
Veronica Valencia
Tauler Hughes California Realty
MLS# OCVALEVER
Request Information
Interested in 253 S Carondelet? We'd love to help.
Based on information from CRMLS. All data is deemed reliable but not guaranteed. Listings marked with the CRMLS icon are provided courtesy of the California Regional MLS. Information is provided for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing.