About 406 S Coronado Street
406 S Coronado St | 13-Unit Value-Add Multifamily in Westlake, Los Angeles. Built in 1922 on a 7,732 SF LAR4 lot with 6,250 SF of improvements, this renovated asset features a desirable unit mix of (12) studio + den units and (1) studio. The property offers immediate income upside through lease-up of one vacant unit and mark-to-market rent growth, with average in-place rents approximately 17% below market. Zoned LAR4 with potential to build up to 8 ADUs under AB1211, providing long-term density and income expansion. Offered at $2,200,000 ($169,231/unit | $352/SF) with a 7.04% in-place cap rate and 8.63% pro forma cap rate, further enhanced by 3.85% assumable financing, laundry, RUBS, and ancillary income.
Features of 406 S Coronado Street
| MLS® # | 26643727 |
|---|---|
| Price | $2,200,000 |
| Bathrooms | 2.00 |
| Square Footage | 6,250 |
| Lot Size | 7,734 |
| Year Built | 1922 |
| Type | Residential Income |
| Status | Active |
| # Of Units | 13 |
Community Information
| Address | 406 S Coronado Street |
|---|---|
| Area | C42 - Downtown L.A. |
| City | Los Angeles |
| County | Los Angeles |
| Zip Code | 90057 |
Amenities
| Parking | None |
|---|---|
| Garages | None |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior Features | Ceiling Fan(s) |
|---|---|
| Appliances | Microwave |
| Heating | Combination |
| Cooling | Wall/Window Unit(s) |
| Has Basement | No |
| Fireplace | No |
| Stories | Multi/Split |
Additional Information
| Date Listed | January 27th, 2026 |
|---|---|
| Days on Market | 224 |
| Zoning | LAR3 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Taylor Avakian |
|---|---|
| Office | Lyon Stahl Investment Real Estate, Inc. |