1032 Coronado Street, Los Angeles

Los Angeles Home For Sale

WESTMAC Commercial Brokerage Company and Sotheby's International Realty are pleased to present the opportunity to acquire 1032 N Coronado Street, a multifamily property in Silver Lake, steps away from bustling Sunset Boulevard. Construction on this multifamily property was completed in 2024, and tenants have begun moving in. Nineteen of the thirty-three units are leased so far. This newly constructed property comprises thirty-three (33) units. The building is approximately 19,800 SF on approximately 7,500 SF of land. There are three (3) studios, three (3) balcony loft units, twenty-five (25) one-bedroom units, and two (2) two-bedroom units, spread out among four (4) floors above grade. Four (4) of the units are low-income. All units feature high-end cabinetry imported from Spain, as well as brand-new black brushed stainless steel appliances, including custom built-in dishwashers. Rental rates range from $2,000 to $4,300 per month. Tenants can enjoy two floors of secured parking totaling twenty-six (26) spaces, and a rooftop deck with cabanas and a gym that overlooks the expansive views of Silver Lake, Hollywood, Griffith Park, and beyond. The location of this property is second to none. It is situated on the border of Silver Lake and Echo Park, on the corner of Coronado and Sunset Boulevard. This desirable corner of Los Angeles is full of hip restaurants, bars, coffee shops, boutique stores, fitness studios, and more. The Silver Lake Farmers' Market occurs on Tuesdays and Saturdays just a few blocks from the property. Popular restaurants Silverlake Ramen, Greekman's, and Pijja Palace are only a three-minute walk from the property. The neighborhood has a Walk Score of 93. Coronado Street connects directly with the 101 freeway. Building tenants need only drive one minute to hop on the freeway, connecting them to Downtown LA, Hollywood, and beyond. A few blocks down on Sunset is Glendale Boulevard, which connects to the 2 freeway going to Northeast LA and Glendale. Adjacent to the subject property is a 603 bus stop, which runs from Downtown LA, through Silver Lake and Echo Park, and into Atwater Village and Glendale. On the other corner is the 2 bus, which travels from South Central to Echo Park, down Sunset Boulevard to UCLA in Westwood. USC is only a 10-minute drive from the subject property, and there are five major medical centers within two miles, including the new GenevaCho Medical Center. This is an excellent opportunity for a multifamily investor to own property in an ideal Silver Lake location where rental rates are notoriously high.