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12-Units in Westlake | $125,000/Unit 746 S Bonnie Brae St 12 Unit Apartment Building $1,500,000 ($125,000/Unit) 5.38% Cap Rate Los Angeles, CA 90057
INVESTMENT HIGHLIGHTS
- 42 Percent Remaining Rental Upside Through Interior Renovations
- Competitive Submarket for Multifamily Acquisitions, Especially for Investors Targeting Working-Class Renters.
- Long Term Ownership - Property Has Been Owned for 20 Years, Offering a Rare Acquisition Opportunity
- Proximity to DTLA, Public Transit, and Major Job Centers
- Easy Access to Major Freeways (101, 110, 10) and Multiple Metro lines
- The Property is Being Offered at an Attractive Basis of $125,000 Per Unit
EXECUTIVE SUMMARY
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a 12-unit apartment community located at 746 South Bonnie Brae Street. The subject property is located south of Wilshire Boulevard and east of Alvarado Street.
The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Downtown Los Angeles. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area.
Situated on a 7,511 square foot parcel, the property is comprised of four studio units and eight one-bedroom units. The property has 42% remaining rental upside through unit renovations. 746 South Bonnie Brae Street offers investors an opportunity to acquire an asset in a sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 746 South Bonnie Brae Street an excellent acquisition opportunity.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
The building is in close proximity to an array of shopping, along with a slew of vibrant restaurants, museums, cafes, bars, theaters, grocery stores, gyms, and entertainment choices in Downtown Los Angeles. This provides residents with convenient access to employment centers, retail and entertainment in the immediate area.
Situated on a 7,511 square foot parcel, the property is comprised of four studio units and eight one-bedroom units. The property has 42% remaining rental upside through unit renovations. 746 South Bonnie Brae Street offers investors an opportunity to acquire an asset in a sought-after in-fill submarket in Los Angeles. The continued gentrification of the surrounding area along with the value-add potential for a new owner to renovate in order to achieve superior market rents moving forward, makes 746 South Bonnie Brae Street an excellent acquisition opportunity.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
PROPERTY FACTS
| Price | $1,500,000 | Property Subtype | Apartment |
| Price Per Unit | $125,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.38% | Lot Size | 0.17 AC |
| Gross Rent Multiplier | 8.85 | Building Size | 8,506 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1906 |
| Zoning | R4, Los Angeles | ||
| Price | $1,500,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 5.38% |
| Gross Rent Multiplier | 8.85 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 8,506 SF |
| No. Stories | 2 |
| Year Built | 1906 |
| Zoning | R4, Los Angeles |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 4 | - | - |
| 1+1 | 8 | - | - |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (86)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 5142-006-008 | Improvements Assessment | $396,301 |
| Land Assessment | $819,943 | Total Assessment | $1,216,244 |
PROPERTY TAXES
Parcel Number
5142-006-008
Land Assessment
$819,943
Improvements Assessment
$396,301
Total Assessment
$1,216,244
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12-Units in Westlake | $125,000/Unit | 746 S Bonnie Brae St
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