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MLS:24-473385

667 Carondelet, Los Angeles, CA 90057

Priced at: $8,000,000
Bedrooms:
18
Bathrooms (Full):
0
Bathrooms (Half):
0
Living Area SqFt:
28,156 Sq Ft
Lot SqFt:
13,116 Sq Ft
Year Built:
1917
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 6.55% CAP rate at 8.80 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.

Fees

Features

Equipment/ Appliances:
  • None
Parking:
  • None
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MLS: 24-473385
667 Carondelet, Los Angeles, CA 90057
Price: $8,000,000
Listing courtesy of Marcus & Millichap

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"Property information shown has been provided from various sources, which can include the seller and/or public records. It is believed reliable but not guaranteed and should not be relied upon without independent verification."

Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. All dimensions are estimates only and may not be exact measurements. Square Footages are approximate. Floor plans and development plans are subject to change. The sketches, renderings, graphic materials, plans, specifics, terms, conditions and statements are proposed only, and the developer, the management company, the owners and other affiliates reserve the right to modify, revise or withdraw any or all of same in their sole discretion and without prior notice. All pricing and availability is subject to change. The information is to be used as a point of reference and not a binding agreement.

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