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$ 1,175,000
Est. payment /mo
Active
227 S Bonnie Brae ST Los Angeles, CA 90057
7,213 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25041643
HOA Y/N No
Year Built 1956
Lot Size 7,213 Sqft
Property Sub-Type Apartment
Property Description
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.
Location
State CA
County Los Angeles
Area Krea - Koreatown
Zoning LAR3
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Curbs, Golf, Gutter(s), Suburban, Sidewalks
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5154003003
Energy Description 1809.0
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
Listed by Parker Boehle NorthMarq Realty Services, Inc 310-988-8361
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