2 Locations

Lucrum Real Estate Group is pleased to present Villa Coronado, a charming and well-maintained multifamily investment opportunity located at 534 & 542 S. Coronado Street in the Westlake District of Los Angeles. This 14-unit garden-style apartment community consists of two separate buildings situated on individual APNs, offering architectural character, operational flexibility, and long-term investment appeal.

Villa Cornado appeals to a broad investor audience due to its highly attractive value metrics, strong cash-on-cash return, attractive leverage & loan options, RUBS program off-setting water cost, spacious units, and ±21% rental upside potential.

Set within a quiet, tree-lined residential street, Villa Coronado reflects the classic architectural charm found throughout historic Los Angeles. Mature landscaping, tranquil garden pathways, and Zen-like seating areas create a calm and private living environment that enhances tenant satisfaction and supports long-term occupancy—positioning the property as a differentiated asset in a high-demand rental market.

Constructed in 1922 and 1924, the two wood-frame buildings feature flat roofs and smooth stucco exteriors characteristic of early Los Angeles design. The property offers approximately ±11,430 square feet of rentable living area across two parcels totaling ±12,804 square feet. Zoned LAR3, the site provides flexibility for a long-term hold strategy with potential future redevelopment considerations.

Unit Mix

• (2) Studio + One Bath
• (10) One-Bedroom + One Bath
• (1) Two-Bedroom + One Bath
• (1) Two-Bedroom + Den + One Bath

The spacious units blend vintage character with functional modern living. Open floor plans, high ceilings, and abundant natural light highlight original architectural details such as crown molding and hardwood-style flooring. Select units feature individual hot water heaters and in-unit washer/dryer hookups, amenities that enhance tenant retention and support future rental upside. Several units also benefit from dual entry points, a rare feature that adds flexibility and appeal.

Gated parking is accessed from Ocean View Avenue and includes four surface spaces and four enclosed garages, providing practical parking and storage solutions in a dense urban setting.

Villa Coronado has been maintained to ownership standards and has undergone recent improvements, while still offering meaningful value-add potential through targeted interior and exterior enhancements. Strong in-place income, RUBS implementation, and consistent rental demand in the Westlake submarket position the property for both immediate cash flow stability and long-term appreciation.

The Westlake District, located just west of Downtown Los Angeles, has become a growing focal point for redevelopment and investor activity. With over 1,000 apartment units currently under construction, the neighborhood continues to attract capital due to its proximity to Downtown, Koreatown, and Hollywood.

Westlake’s rich cultural fabric reflects a vibrant Hispanic and Central American influence, visible through local markets, restaurants, and community events. Over the past year, Westlake rental rates have outperformed many Los Angeles submarkets, with average asking rents of approximately $1,560 per month—30% to 35% below the citywide average—making it one of the most affordable yet rapidly appreciating urban neighborhoods in the city.

The area features a diverse mix of historic, mid-century, and modern residential architecture. MacArthur Park anchors the neighborhood, offering green space, public programming, and live performances at the Levitt Pavilion. Alvarado Street and Wilshire Boulevard serve as key commercial corridors, while robust transit options—including Metro rail and bus lines—provide excellent connectivity throughout the region.