1216 S Bonnie Brae St, Los Angeles, CA 90006

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$2,700,000

Est. payment - /mo

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12 BD

12 BA

5,589 SqFt

Active

1216 S Bonnie Brae St Los Angeles, CA 90006

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

12/05/2024 04:02 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,589 sqft

Price per Sqft $483

MLS Listing ID 24-462529

Bedrooms 12

Year Built 1949

Lot Size 5,626 Sqft

Acres 0.1291

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 Downtown L.A.

Zoning LARD1.5

Rooms

Other Rooms None

Interior

Heating None

Cooling None

Equipment None

Exterior

Parking Features None

Garage Spaces 5.0

Building

Story 3

Level or Stories Three Or More

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Marcus & Millichap