1216 South Bonnie Brae Street
$2,700,000
12
12
5,589
5,589
$483
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...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.
- Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01238010 • Marcus & Millichap
Property Details for 1216 South Bonnie Brae Street
Zoning
LARD1.5
Parcel Number5137027002
Total Units12.0
Living Area5589
Source Living AreaVendor Enhanced
AreaDowntown L.A. (C42)
Vacancy Rate2
Lot Size Area5626
LISTING UPDATED: 12/05/2024 09:02 AM
Property Details for 1216 South Bonnie Brae Street
Status | Active |
---|---|
MLS # | 24-462529 |
Days on Market | 45 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1949 |
Lot Size | 0.13 AC / 5,626 SF |
County | Los Angeles County |
Building Information for 1216 South Bonnie Brae Street
Stories3Residences-Year Built1949Building Size-Lot Size0.13 AC / 5,626 SF
Property Information for 1216 South Bonnie Brae Street
Property History for 1216 South Bonnie Brae Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1216 South Bonnie Brae Street
Taxable ValueLand$1,729,053Additions$447,406Total$2,176,459
Tax Record2024$27,254 ($2,271 / month)
Home Facts
Total Finished SqFt5,589 SqFtAbove Grade Finished SqFt5,589 SqFtLot Size5,626 SqFtStyleMulti-Family Res (5+ Units)Year Built1949ZoningLARD1.5CountyLOS ANGELESAPN5137-027-002
Schools near 1216 South Bonnie Brae Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 4 |
Rating | School | Distance |
---|---|---|
Magnolia Avenue Elementary School PublicK to 5 | ||
Berendo Middle School Public6 to 8 | ||
West Adams Preparatory High School Public9 to 12 | ||
Equitas Academy Charter School CharterK to 4 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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