1216 South Bonnie Brae Street

Los Angeles, CA 90015

$2,700,000
Price
12
Beds
12
Baths
5,589 Sq. Ft.
$483 / Sq. Ft.
5,589
Sq. Ft.
$483
per Sq. Ft.

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.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01238010 • Marcus & Millichap

Property Details for 1216 South Bonnie Brae Street

Zoning
LARD1.5
Parcel Number
5137027002
Total Units
12.0
Living Area
5589
Source Living Area
Vendor Enhanced
Area
Downtown L.A. (C42)
Vacancy Rate
2
Lot Size Area
5626
LISTING UPDATED: 12/05/2024 09:02 AM

Property Details for 1216 South Bonnie Brae Street

StatusActive
MLS #24-462529
Days on Market45
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1949
Lot Size0.13 AC / 5,626 SF
CountyLos 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

Community / Development
Community / Development
  • Number Of Units: 12
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: 12 1+1's
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $289,924
  • Net Operating Income: $194,902.00
  • Gross Income: $305,183
  • Cap Rate: 7.22%
  • Gross Rent Multiplier: $8.85
  • Actual Annual Gross Rent: $304,776.00
  • Actual Gross Annual Income: $305,183
  • Actual Rent Total: $304,776.00
  • Vacancy Allow Dollar: $15,259.00
  • Vacancy Allow Percent: 5.00%
  • Total Annual Expense: 95022
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1291
  • Lot Size Square Feet: 5626
  • Lot Size Dimensions: 50x113
  • Source Lot Size Dimensions: Vendor Enhanced
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 5
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Three Or More
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-11-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,117.00
  • Unit Actual Rent: $25,398.00
  • Unit Projected Rent: $28,884.00
  • Like Units: 12
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $437,457.00
  • Assessed Improvement Percent: 20.51
  • Assessed Land Value: $1,695,150.00
  • Assessed Land Percent: 79.49
  • Assessed Total Value: $2,132,607.00

Property History for 1216 South Bonnie Brae Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

1216 South Bonnie Brae Street is a multi-family home for sale in Los Angeles, CA 90015. This property was listed for sale on November 6, 2024 by Marcus & Millichap, it's currently listed at $2,700,000. It has been on the market for a total of 45 days and was last sold on June 29, 2018. This listing's school district is Los Angeles Unified School District. Nearby schools include Magnolia Avenue Elementary School, Berendo Middle School and West Adams Preparatory High School. 1216 South Bonnie Brae Street is a 12-bed, 12-bath, 5,589 sqft multi-family home built in 1949.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.