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.
Property Details
Price:
$2,700,000
MLS #:
24462529
Status:
Active
Baths:
0
Address:
1216 S Bonnie Brae Street
Type:
Residential Income
Neighborhood:
c42downtownla
City:
Los Angeles
Listed Date:
Nov 6, 2024
State:
CA
ZIP:
90006
Lot Size:
5,626 sqft / 0.13 acres (approx)
Year Built:
1949
See this Listing
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Schools
Interior
Cooling
None
Heating
None
Exterior
Parking Features
None
Parking Spots
5.00
Stories Total
3
Financial
Map
Community
- Address1216 S Bonnie Brae Street Los Angeles CA
- AreaC42 – Downtown L.A.
- CityLos Angeles
- CountyLos Angeles
- Zip Code90006
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Courtesy of Marcus & Millichap. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
1216 S Bonnie Brae Street
Los Angeles, CA
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