1832 S Bonnie Brae St 4 Unit Apartment Building Offered at $895,000 at a 4.33% Cap Rate Los Angeles, CA 90006

ASSET
Fourplex apartment is located approximately 1 mile from USC and just a half-mile from Los Angeles Convention Center, Crypto.com Arena and L.A. Live. The asset consists of (2) 2-bedroom/1-bathroom units and (1) 1-bedroom/1-bathroom plus den and (1) 1-bedroom/1-bathroom unit. Each unit has individual hot water heaters and there are a total of 8 parking spaces. The property is a residential asset which presents a desirable owner-user opportunity. Situated on a 6,250-SF lot, property features new hot water heater connections, new plumbing under the building, new exterior lights, new gate and the electrical subpanels were upgraded approximately 15 years ago. The large lot presents a desirable opportunity to add ADUs in the parking area at the rear of the property.
LOCATION
1832 S. Bonnie Brae Street is located just a mile from USC Village and USC’s campus and approximately a half-mile from Los Angeles Convention Center, L.A. Live, Grammy Museum, Peacock Theatre and Crypto.com Arena. The property is also nearby to Koreatown, Arts District, West Adams, Exposition Park, Lucas Museum of Narrative Arts, BMO Stadium, Natural History Museum and California Science Center. Furthermore, the property is located within close proximity to Downtown Los Angeles and to the Expo Line/USC Station which provides tenants with convenient access to public transit.
FINANCIALS
This 3,968-SF asset contains stable-in place rents as well as legitimate rental upside. The property has a current cap rate of 4.33% and a current GRM of 12.80. The asset also presents rental upside with a pro-forma cap rate of 8.27% and pro-form GRM of 8.43. Furthermore, the property qualifies for attractive residential financing.
*Title records state that the property consists of 4 bedrooms and 4 bathrooms total (four 1-bedroom/1-bathroom units). Buyer to conduct their own due diligence and investigation. Please do not disturb tenants.