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515 S Coronado Street, Los Angeles, California 90057, Los Angeles, 90057 - bed, bath

515 S Coronado Street, Los Angeles, California 90057 home-pic-0
ACTIVE$1,869,000
515 S Coronado Street, Los Angeles, California 90057
0Bed
0Bath
4,924Sqft
6,188Lot
Year Built
1903
Close
-
List price
$1.87M
Original List price
$1.87M
Price/Sqft
$380
HOA
-
Days on market
-
Sold On
-
MLS number
PW25057027
Home ConditionGood
Features
Patio
View-

About this home

We found 3 Cons,5 Pros.

This property consists of all new windows and doors with all new Rails throughout the property. The back unit Fully Rehabbed inside and out. This property is in the Prime location of MacArthur Park and the West Lake Area. This is a Great opportunity for all to buy and hold investors or owner occupied to live in one and rent others. Zoning and Developing Potential-Zoned LR3 offering future developing possibilities in a rapidly growing neighborhood. Exceptional two-story Triplex in a 6,188 Sq Ft Lot, featuring 2 Front units that consist of 9 Bedrooms and 4 Bedroom; the top Unit has 5 Bedrooms, 2 Bathrooms and the Bottom Unit has 4 Bedrooms, 2 Bathrooms. The back Building is the 3rd Unit is a Detached Back unit with 5 Bedrooms and 2 Bathrooms; 2 single car garages attached to the back unit. This Prime location Property is near major transit stops, highways (I-10, I-110 & U.S. Route 101), shopping centers, entertainment, and nightlife. Just about a mile of Koreatown, Appx two miles from Downtown Los Angeles, and appx Six miles from Hollywood. The 3 units totaling 4,924 Sq Ft on a sizable 6,188 Sq Ft lot. property to be sold "as-is" Condition. DO NOT DISTURB TENANTS. Please submit an offer with POF. Shown upon accepted offer. Buyer is encouraged to independently verify the accuracy of any information through inspection(s) or due diligence. Buyer to conduct their own due diligence and investigation of the property. Buyer and Buyer's agent to verify all information regarding the property. Broker on this Property is the Owner as well.

Nearby schools

/10
Lafayette Park Primary Center
Public,•K•0.2mi
3/10
Charles White Elementary School
Public,•1-5•0.3mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•0.4mi
/10
Lake Street Primary School
Public,•K-1•0.6mi
8/10
Hoover Street Elementary School
Public,•K-5•0.6mi
5/10
Union Avenue Elementary School
Public,•K-5•0.7mi
2/10
Esperanza Elementary School
Public,•K-5•0.7mi
5/10
Rosemont Avenue Elementary School
Public,•K-5•0.8mi
5/10
Commonwealth Avenue Elementary School
Public,•K-5•0.9mi
7/10
Dr. Sammy Lee Medical And Health Science Magnet Elementary
Public,•K-5•0.9mi
3/10
Leo Politi Elementary School
Public,•K-5•1.0mi
3/10
Gratts Learning Academy For Young Scholars (Glays)
Public,•K-6•1.1mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•1.1mi
2/10
Tenth Street Elementary School
Public,•K-5•1.1mi
4/10
Betty Plasencia Elementary School
Public,•K-6•1.3mi
6/10
Castelar Street Elementary School
Public,•K-5•2.2mi
3/10
John H. Liechty Middle School
Public,•6-8•0.8mi
3/10
Sal Castro Middle School
Public,•6-8•1.0mi
5/10
Virgil Middle School
Public,•6-8•1.0mi
3/10
Berendo Middle School
Public,•6-8•1.3mi
6/10
Thomas Starr King Middle School
Public,•6-8•2.2mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•0.9mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•0.9mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•0.9mi
3/10
Belmont Senior High School
Public,•9-12•1.0mi
8/10
John Marshall Senior High School
Public,•9-12•3.0mi

Price History

Date
Event
Price
06/03/24
Sold
$1,300,000
11/01/06
Sold
$840,000
10/13/04
Sold
$875,000
04/16/04
Sold
$700,000
Condition Rating
Good
Despite being built in 1903, this triplex has undergone significant and recent renovations, particularly evident in the kitchens and bathrooms across multiple units. The images consistently display updated kitchens with white shaker-style cabinets, dark countertops, stainless steel appliances, and tile flooring. Bathrooms feature modern vanities, white subway tile in showers, and updated fixtures. The listing explicitly states 'all new windows and doors with all new Rails throughout the property' and that 'The back unit Fully Rehabbed inside and out.' Hardwood flooring is prevalent in living areas and bedrooms. These updates make the property move-in ready with no immediate renovation required for the visible areas, aligning with the 'Good' criteria for properties extensively renovated within 5 to 15 years. While the 'as-is' condition and the age of the original structure (1903) suggest potential for older underlying major systems (plumbing, electrical, HVAC) not explicitly detailed as fully updated across all units, the visible cosmetic and functional improvements are substantial enough to warrant a 'Good' rating, indicating a well-maintained property with modern amenities in key areas.
Pros & Cons

Pros

Prime Location & Accessibility: Strategically located in the prime MacArthur Park and West Lake Area, offering excellent connectivity to major transit, highways (I-10, I-110, U.S. Route 101), and proximity to Koreatown (1 mile), Downtown LA (2 miles), and Hollywood (6 miles), enhancing tenant demand and property value.
High Income Potential (Triplex): An exceptional triplex configuration with a total of 14 bedrooms (5-bed/2-bath, 4-bed/2-bath front units, and a detached 5-bed/2-bath back unit) across three units, providing significant rental income potential for investors.
Development & Zoning Potential: Zoned LR3 on a sizable 6,188 Sq Ft lot, offering future development possibilities for increased density in a rapidly growing Los Angeles neighborhood.
Recent Renovations: The property benefits from recent upgrades including all new windows, doors, and rails throughout, with the back unit being fully rehabbed inside and out, reducing immediate capital expenditure for these components.
Versatile Investment Opportunity: Ideal for both buy-and-hold investors seeking substantial rental income and owner-occupants looking to live in one unit while renting out the others to offset mortgage costs.

Cons

As-Is Sale & Restricted Due Diligence: The property is sold 'as-is' with strict 'DO NOT DISTURB TENANTS' policy and showings only upon accepted offer, severely limiting a buyer's ability to conduct thorough inspections and potentially masking costly hidden issues.
Advanced Age of Structure: Built in 1903, the property's age suggests potential for significant deferred maintenance, outdated core systems (e.g., plumbing, electrical), and higher ongoing repair costs, despite some recent cosmetic renovations.
Potential Management Complexity: The high bedroom count per unit (5-bed, 4-bed, 5-bed) may attract a specific tenant demographic (e.g., multiple roommates, large families) which could lead to higher tenant turnover, increased wear and tear, and more complex property management requirements.

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