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915 S Carondelet St
Los Angeles, CA 90006

$7,000,000 USD

Apartments For Sale • 31,500 SF

Property Details

Property Type Apartments
Total Building Size 31,500 SF
Lot Size 0.43 AC
Building Class C
Year Built 1914
Cap Rate 5.64 %
Zoning R4-2, Los Angeles

82 Transit Score

94 Walk Score

                
                    Highlights
                
                                Marcus & Millichap is pleased to present 915 S Carondelet St, a 48-unit multifamily investment opportunity in the Westlake neighborhood
                            
                                Unique opportunity that includes the adjacent lot, currently used for parking with 18 spaces; the lot totals 6,000 SF zoned R4-1 in a Tier 3 TOC
                            
                                The building features a unit mix of one bachelor, 33 singles, six one-bedrooms and eight two-bedrooms
                            
                                Renovated units include refinished hardwood floors, updated appliances, tile bathrooms, new cabinetry, and ceiling fans
                            
                                At the asking price, the property is being offered at a 5.64% CAP rate at 9.01 GRM on current income with an additional 28% rental upside achievable

Property Flyers

Carondelet.915 OM

Financial Summary (Actual)

Net Operating Income: $591,715 USD (2024)

Cap Rate:	5.64 %
Total Expenses:	$351,054 USD

Amenities

Air Conditioning
Laundry Facilities
Security System
Energy Star Labeled
Heating
Laundry Service
Kitchen
High Speed Internet Access
Refrigerator
Oven
Online Services
Public Transportation

Public Transportation

Commuter Rail	Drive	Walk	Distance
Union Station (91 Line - Southern California Regional Rail Authority (Metrolink), Antelope Valley Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink), Riverside Line - Southern California Regional Rail Authority (Metrolink), San Bernardino Line - Southern California Regional Rail Authority (Metrolink), Ventura County Line - Southern California Regional Rail Authority (Metrolink))	10 min	-	3.9 mi
Los Angeles (Coast Starlight - Amtrak, Pacific Surfliner - Amtrak, Southwest Chief - Amtrak, Texas Eagle - Amtrak)	8 min	-	4.0 mi
Transit/Subway	Drive	Walk	Distance
Westlake/Macarthur Park Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro))	1 min	11 min	0.6 mi
Wilshire/Vermont Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro))	2 min	17 min	0.9 mi
Airport	Drive	Walk	Distance
Bob Hope	23 min	-	13.4 mi
Los Angeles International	24 min	-	13.8 mi
Long Beach (Daugherty Field)	31 min	-	22.8 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Type:	Surface
Included in Rent:	Yes

Neema Ahadian 310-909-5444 Marcus & Millichap

915 S Carondelet St Los Angeles, CA 90006