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511 S Carondelet St | 29-Unit Non-RSO Multifamily in Central Los Angeles. Built in 1991 on a 11,674 SF LAR4 lot with 27,284 SF of improvements, this well-positioned asset features a strong unit mix of (4) studios, (17) 1-bed/1-bath, and (8) 2-bed/2-bath units plus 48 on-site parking spaces. The property is not subject to rent control (Non-RSO) and offers clear value-add upside through lease-up of two vacant units and mark-to-market rent growth across the rent roll. Offered at $7,750,000 ($267,241/unit | $284/SF) with a 6.04% in-place cap rate and 7.33% pro forma cap rate, supported by additional income from parking, laundry, and fees.
| DAYS ON MARKET | 55 | LAST UPDATED | 1/22/2026 |
|---|---|---|---|
| YEAR BUILT | 1991 | COMMUNITY | C42 - Downtown L.A. |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Microwave |
| AREA | C42 - Downtown L.A. |
| GARAGE | Yes |
| HEAT | Central |
| LOT | 0.2678 acre(s) |
| LOT DIMENSIONS | 108x108 |
| PARKING | Garage |
| STORIES | Split/Multi Level |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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