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Chateau Carondelet 667 S Carondelet 59 Unit Apartment Building $10,921,750 CAD ($185,114 CAD/Unit) 6.86% Cap Rate Los Angeles, CA 90057
INVESTMENT HIGHLIGHTS
- Offered at a 6.86% CAP Rate
- Turn-Key Property with Close to Market Rents
- Prime Westlake Location - Near MacArthur Park
- Walking Distance to Metro MacArthur Park Station
- Priced at an 8.82 Gross Rent Multiplier
EXECUTIVE SUMMARY
Chateau Carondelet is a 59-unit apartment building located at 667 South Carondelet Street. The property is situated in the Westlake neighborhood of Los Angeles – walking distance to MacArthur Park and the Metro station. The property is two blocks east of Koreatown and a short drive to the financial district of Downtown Los Angeles.
The opportunity consists of forty-one (41) single units and eighteen (18) one-bedroom units spread across 28,156 rentable square feet. Each unit is separately metered for electricity, and the owner pays for the gas and water. Over the last decade, the owners have invested a significant amount of capital into the building by updating the lobby, elevator system, and intercom system. In addition, the owners have updated the exterior of the property to include well maintained landscaping and a security camera system.
The opportunity consists of forty-one (41) single units and eighteen (18) one-bedroom units spread across 28,156 rentable square feet. Each unit is separately metered for electricity, and the owner pays for the gas and water. Over the last decade, the owners have invested a significant amount of capital into the building by updating the lobby, elevator system, and intercom system. In addition, the owners have updated the exterior of the property to include well maintained landscaping and a security camera system.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,237,682
|
$30.81
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$37,130
|
$0.92
|
| Effective Gross Income |
$1,200,552
|
$29.89
|
| Taxes |
$131,061
|
$3.26
|
| Operating Expenses |
$320,162
|
$7.97
|
| Total Expenses |
$451,223
|
$11.23
|
| Net Operating Income |
$749,329
|
$18.65
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,237,682 |
| Annual Per SF | $30.81 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $37,130 |
| Annual Per SF | $0.92 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,200,552 |
| Annual Per SF | $29.89 |
| Taxes (CAD) | |
|---|---|
| Annual | $131,061 |
| Annual Per SF | $3.26 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $320,162 |
| Annual Per SF | $7.97 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $451,223 |
| Annual Per SF | $11.23 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $749,329 |
| Annual Per SF | $18.65 |
PROPERTY FACTS
| Price | $10,921,750 CAD | Property Subtype | Apartment |
| Price Per Unit | $185,114 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.86% | Lot Size | 0.31 AC |
| Sale Condition | 1031 Exchange | Building Size | 40,169 SF |
| Gross Rent Multiplier | 8.82 | Average Occupancy | 95% |
| No. Units | 59 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1917 |
| Zoning | R4 | ||
| Price | $10,921,750 CAD |
| Price Per Unit | $185,114 CAD |
| Sale Type | Investment |
| Cap Rate | 6.86% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 8.82 |
| No. Units | 59 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 40,169 SF |
| Average Occupancy | 95% |
| No. Stories | 5 |
| Year Built | 1917 |
| Zoning | R4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
- Security System
- Energy Star Labeled
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 41 | - | 325 - 400 |
| 1+1 | 18 | - | 600 |
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Excellent Transit (85)
PROPERTY TAXES
| Parcel Number | 5141-007-002 | Total Assessment | $12,985,016 CAD (2025) |
| Land Assessment | $11,447,750 CAD (2025) | Annual Taxes | $131,061 CAD ($3.26 CAD/SF) |
| Improvements Assessment | $1,537,266 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5141-007-002
Land Assessment
$11,447,750 CAD (2025)
Improvements Assessment
$1,537,266 CAD (2025)
Total Assessment
$12,985,016 CAD (2025)
Annual Taxes
$131,061 CAD ($3.26 CAD/SF)
Tax Year
2024
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Chateau Carondelet | 667 S Carondelet
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