$ 2,700,000
1216 S Bonnie Brae Street Los Angeles, CA 90006
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$ 2,700,000
Est. payment | /mo
5,589 SqFt
$ 2,700,000
Est. payment | /mo
5,589 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 5,589 sqft
Price per Sqft $483
MLS Listing ID CL24462529
HOA Y/N No
Year Built 1949
Lot Size 5,626 Sqft
Acres 0.13
Property Description
We are pleased to present 1216 S Bonnie Brae St, a12-unit multi-family investment opportunity on the edge of the Westlake, Pico-Union, and Koreatown neighborhoods of Los Angeles located just east of S Alvarado St between W 12th St & W Pico Blvd. The property features a unit mix of all one-bedrooms with five parking spaces; two units will be delivered vacant at the close of escrow. At the asking price, the property is being offered at a 7.22% CAP rate and 8.85 GRM on current income with an additional 14% in rental upside through interior renovations as units turnover. The property's location is highly desirable with a Walk Score of 93, indicative of the area's accessibility to various modes of public transportation, including Metro rail and bus lines. The neighborhood provides convenient access to local attractions such as MacArthur Park, Echo Park, Crypto.com Arena, and the Los Angeles Convention Center, making it an attractive option for urban living. Investors looking for a property with stable returns and potential for capital growth will find 1216 S Bonnie Brae St to be an outstanding opportunity. Its combination of location, quality, and upside potential makes it a compelling choice for those seeking to invest in the Los Angeles real estate market.
Location
State CA
County Los Angeles
Area Listing
Zoning LARD
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Type None
Building
New Construction No
Others
Tax ID 5137027002
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Neema Ahadian • Marcus & Millichap
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "