Listed by Taylor Avakian of Lyon Stahl Investment Real Estate, Inc. [email protected]
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511 S Carondelet St | 29-Unit Non-RSO Multifamily in Central Los Angeles. Built in 1991 on a 11,674 SF LAR4 lot with 27,284 SF of improvements, this well-positioned asset features a strong unit mix of (4) studios, (17) 1-bed/1-bath, and (8) 2-bed/2-bath units plus 48 on-site parking spaces. The property is not subject to rent control (Non-RSO) and offers clear value-add upside through lease-up of two vacant units and mark-to-market rent growth across the rent roll. Offered at $7,750,000 ($267,241/unit | $284/SF) with a 6.04% in-place cap rate and 7.33% pro forma cap rate, supported by additional income from parking, laundry, and fees.
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Listing Snapshot
Price
$7,750,000
Days On Site
9 Days
Bedrooms
33
Inside Area (SqFt)
26,000 sqft
Total Baths
37
Full Baths
N/A
Partial Baths
N/A
Lot Size
0.2678 Acres
Year Built
1991
MLS® Number
26640807
Status
Active
Property Tax
N/A
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
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Recent Activity
2 days ago
Listing updated with changes from the MLS®
a week ago
Listing first seen on site
General Features
Acres
0.2678
Garage
Yes
Levels
Multi/Split
Parking
Garage
Parking Spaces
48
Special Circumstances
Standard
SqFt Total
26000
Zoning
LAR4
Interior Features
Appliances
DishwasherMicrowave
Cooling
Central Air
Heating
Central
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Community Features
MLS Area
C42 - Downtown L.A.
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Neighborhood & Commute
Source: Walkscore
Disclosure: Community information and market data powered by Constellation Data Labs. Information is deemed reliable but not guaranteed.
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