4646 Coliseum St, Los Angeles, CA 90016

Description

4646 Coliseum St is an 18-unit multifamily property in Baldwin Village, offered at $4,000,000, or approx. $222,222 per unit. Built in 1954, the property totals approx. 16,649 SF on a 16,500 SF lot and includes (8) 2-bdrm./1-bath units, (9) 1-bdrm./1-bath units, and (1) studio. At current rents, the property performs at a 6.61% CAP and 9.52 GRM. The two-story property is arranged around a landscaped central courtyard with mature trees, open-air walkways, and gated entry from Coliseum Street. The building has a clean mid-century multifamily design with a stucco exterior, landscaped frontage, and a more residential feel created by the interior garden and courtyard layout. Current monthly scheduled gross income totals approx. $35,007, compared with projected income of $44,030 per month, representing approx. 25% rental upside. At projected rents, the property is expected to perform at a 9.18% CAP and 7.57 GRM. The property is separately metered for gas and electricity. There are 13 carport parking spaces, ideal for ADU conversions (Buyer to verify). Located near the intersection of S La Brea Ave and Obama Blvd, 4646 Coliseum St sits in a central part of Baldwin Village with schools, recreation, and neighborhood amenities close by. Coliseum Street Elementary, Hillcrest Drive Elementary, Stella Middle Charter Academy, and Jim Gilliam Recreation Center are all within the surrounding neighborhood, while the West Jefferson corridor is a short drive north with restaurants and retail including Highly Likely, Maydan Market, and other West Adams destinations. 4646 Coliseum St brings together an 18-unit scale, a balanced mix of 1- and 2-bdrm. apartments, a 6.61% current CAP, and meaningful additional income growth within a courtyard-style property in Baldwin Village. Its location near La Brea, neighborhood schools and recreation, and the growing West Jefferson corridor gives the property a strong combination of current performance and day-to-day neighborhood access.