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943 S Bonnie Beach Pl 16 Unit Apartment Building $2,750,000 ($171,875/Unit) 6.90% Cap Rate Los Angeles, CA 90023
Investment Highlights
- The property operates at a 6.90% scheduled cap rate and an 8.83 gross rent multiplier.
- With a Walk Score of 78, most errands can be accomplished on foot. The retail and services of Whittier Boulevard sit just north of the property.
- Approximately 15% rental upside remains, capturable through ordinary turnover.
- The 5, 60 and 710 Freeways put Downtown Los Angeles and the industrial employment centers of Vernon and Commerce within commuting distance.
Executive Summary
The SR Group of Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale 943 South Bonnie Beach Place, a 16-unit apartment community located in East Los Angeles, about five miles east of Downtown Los Angeles.
Built in 1923, the property comprises 8,400 square feet of improvements across nine buildings on a 16,000-square-foot parcel. Its unit mix is 14 one-bedroom units and two two-bedroom units. The property delivers strong in-place yield at a 6.90% scheduled cap rate and an 8.83 gross rent multiplier. Approximately 15% rental upside remains, capturable through ordinary turnover.
With a Walk Score of 78, most errands can be accomplished on foot. Whittier Boulevard, the main commercial corridor of East Los Angeles, runs just north of the property. The 5, 60 and 710 Freeways put Downtown Los Angeles and the industrial employment centers of Vernon and Commerce within commuting distance.
943 South Bonnie Beach Place offers investors an opportunity to acquire an income-producing asset with remaining upside in East Los Angeles.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Built in 1923, the property comprises 8,400 square feet of improvements across nine buildings on a 16,000-square-foot parcel. Its unit mix is 14 one-bedroom units and two two-bedroom units. The property delivers strong in-place yield at a 6.90% scheduled cap rate and an 8.83 gross rent multiplier. Approximately 15% rental upside remains, capturable through ordinary turnover.
With a Walk Score of 78, most errands can be accomplished on foot. Whittier Boulevard, the main commercial corridor of East Los Angeles, runs just north of the property. The 5, 60 and 710 Freeways put Downtown Los Angeles and the industrial employment centers of Vernon and Commerce within commuting distance.
943 South Bonnie Beach Place offers investors an opportunity to acquire an income-producing asset with remaining upside in East Los Angeles.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
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Property Facts
| Price | $2,750,000 | Apartment Style | Garden |
| Price Per Unit | $171,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.37 AC |
| Cap Rate | 6.90% | Building Size | 8,400 SF |
| Gross Rent Multiplier | 8.83 | No. Stories | 1 |
| No. Units | 16 | Year Built | 1923 |
| Property Type | Multifamily | Parking Ratio | 1.31/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LCR4YY | ||
| Price | $2,750,000 |
| Price Per Unit | $171,875 |
| Sale Type | Investment |
| Cap Rate | 6.90% |
| Gross Rent Multiplier | 8.83 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 8,400 SF |
| No. Stories | 1 |
| Year Built | 1923 |
| Parking Ratio | 1.31/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LCR4YY |
Amenities
Unit Amenities
- Kitchen
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | 500 |
| 2+1 | 2 | - | 700 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Good public transit
60/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5239-020-009 | Improvements Assessment | $603,733 |
| Land Assessment | $712,406 | Total Assessment | $1,316,139 |
Property Taxes
Parcel Number
5239-020-009
Land Assessment
$712,406
Improvements Assessment
$603,733
Total Assessment
$1,316,139
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943 S Bonnie Beach Pl