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$ 2,700,000
Est. payment /mo
Active
1216 S Bonnie Brae ST Los Angeles, CA 90006
12 Beds
12 Baths
5,589 SqFt
UPDATED:
12/05/2024 05:19 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,589 sqft
Price per Sqft $483
MLS Listing ID 24462529
Bedrooms 12
HOA Y/N No
Year Built 1949
Lot Size 5,627 Sqft
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 C42 - Downtown L.A.
Zoning LARD1.5
Interior
Heating None
Cooling None
Fireplace No
Exterior
Parking Features None
Total Parking Spaces 5
Building
Story 3
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 5137027002
Special Listing Condition Standard
Listed by Neema Ahadian • Marcus & Millichap