Located in Westlake, 227 S. Bonnie Brae offers an ideal opportunity to acquire a value-add, cash flowing 8-unit property. The property is currently operating at a 5.26& Cap Rate and 10.5 GRM with tons of upside in rental income!
Built in 1956, the Bonnie Brae apartments have been well maintained by ownership. Four of the units have been renovated with new flooring, cabinets, fixtures, and bathrooms, allowing management to achieve top of the market rent at $1,595/month for multiple units. All units are Studios measuring roughly 345 Sq.Ft. There is roughly 31% upside remaining in monthly rents.
The property sits on a massive lot, totaling just under 7,300 Sq.Ft, which allows for an incredible opportunity for ADU’s or redevelopment. The rear lot is currently being used for roughly (12) total parking spaces and is zoned R3.
Surrounded by numerous modern developments, the Bonnie Brae apartments are only minutes away from Crypto.Com Arena, LA Live, the LA Metro Station, the booming Echo Park, BMO Stadium, as well at the 101/110 Freeways.
Built in 1956, the Bonnie Brae apartments have been well maintained by ownership. Four of the units have been renovated with new flooring, cabinets, fixtures, and bathrooms, allowing management to achieve top of the market rent at $1,595/month for multiple units. All units are Studios measuring roughly 345 Sq.Ft. There is roughly 31% upside remaining in monthly rents.
The property sits on a massive lot, totaling just under 7,300 Sq.Ft, which allows for an incredible opportunity for ADU’s or redevelopment. The rear lot is currently being used for roughly (12) total parking spaces and is zoned R3.
Surrounded by numerous modern developments, the Bonnie Brae apartments are only minutes away from Crypto.Com Arena, LA Live, the LA Metro Station, the booming Echo Park, BMO Stadium, as well at the 101/110 Freeways.
Property Details
Price:
$1,175,000
MLS #:
OC25041643
Status:
Active
Baths:
0
Address:
227 S Bonnie Brae Street
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
kreakoreatown
City:
Los Angeles
Listed Date:
Feb 25, 2025
State:
CA
ZIP:
90057
Lot Size:
7,213 sqft / 0.17 acres (approx)
Year Built:
1956
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Schools
Interior
Exterior
Community Features
Curbs, Golf, Gutters, Sidewalks, Suburban
Garage Spaces
0.00
Lot Features
0-1 Unit/ Acre
Parking Spots
0.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address227 S Bonnie Brae Street Los Angeles CA
- AreaKREA – Koreatown
- CityLos Angeles
- CountyLos Angeles
- Zip Code90057
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Courtesy of NorthMarq Realty Services, Inc. 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 2025. California Regional Multiple Listing Service. All rights reserved.227 S Bonnie Brae Street
Los Angeles, CA
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