1216 S Bonnie Brae St new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90006
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
Garage None
Garage Spaces 5.0
Building
Story 3
Level or Stories Three Or More
Others
Special Listing Condition Standard