220 Bonnie Brae St, Los Angeles, CA 90057
7 Unit Apartment Building | $1,225,000 ($175,000/Unit) | 6.13% Cap Rate | Los Angeles, CA 90057
For Sale
Active
35 pictures
Asking Price $1,225,000
- Property Type
-
Multifamily
- Square Feet
- 6,989 SF
Listing Contacts
Dario Svidler
Property Overview
Partners CRE are proud to exclusively present for sale a 6 Unit + RTI ADU Residential Building with tremendous redevelopment potential in the Historic Filipinotown area of Echo Park!
The property currently features a six unit building on an oversized lot with 9 single car garages. The sellers have an RTI / Approved Plan Check to convert the four garages in front into a 2 Bedroom, 2 Bathroom Accessory Dwelling Unit (ADU).
With 8,287 SF of R4-1 Tier 1 land, and backing up to a 20 foot wide alley, a developer could build 70± units by ED-1. There are long terms tenants; the property will be delivered fully occupied with no relocation agreements. A new owner will need to talk to tenants after close of Escrow.
The property is perfect for redevelopment into a market rate project or preferably a 100% Affordable Housing project!
With just a 15 minute walk to the Metro Subway Station at MacArthur Park, rest assured that limited (or no) parking should not affect a project in this very pedestrian friendly area.
With easy access to the 101 and 110 freeways, this property is centrally located to benefit from what Downtown, Silver Lake, Echo Park, Hollywood, Koreatown and more have to offer!
Designated as Very Walkable, Excellent Transit and Bikeable by Walk Score, come build a place your future tenants truly can call home!
This high-demand area is in the middle of everything that younger professionals are looking for!
Square footage, bedrooms and bathrooms includes the RTI ADU as it will be built. CAP of 5.46% and GRM of 11.10 take into account the budget of $150,000 to build the ADU.
The property currently features a six unit building on an oversized lot with 9 single car garages. The sellers have an RTI / Approved Plan Check to convert the four garages in front into a 2 Bedroom, 2 Bathroom Accessory Dwelling Unit (ADU).
With 8,287 SF of R4-1 Tier 1 land, and backing up to a 20 foot wide alley, a developer could build 70± units by ED-1. There are long terms tenants; the property will be delivered fully occupied with no relocation agreements. A new owner will need to talk to tenants after close of Escrow.
The property is perfect for redevelopment into a market rate project or preferably a 100% Affordable Housing project!
With just a 15 minute walk to the Metro Subway Station at MacArthur Park, rest assured that limited (or no) parking should not affect a project in this very pedestrian friendly area.
With easy access to the 101 and 110 freeways, this property is centrally located to benefit from what Downtown, Silver Lake, Echo Park, Hollywood, Koreatown and more have to offer!
Designated as Very Walkable, Excellent Transit and Bikeable by Walk Score, come build a place your future tenants truly can call home!
This high-demand area is in the middle of everything that younger professionals are looking for!
Square footage, bedrooms and bathrooms includes the RTI ADU as it will be built. CAP of 5.46% and GRM of 11.10 take into account the budget of $150,000 to build the ADU.
Property Details
- Class
- C
- Year Built
- 1948
- Stories
- 2
- Lot Size (sq. ft)
- 8,276 SF
- Units
- 7
Highlights
- 6 Units with ADU as RTI for a 7th Unit
- Very Walkable, Excellent Transit, Bikeable - per Walk Score
- Around a fifteen minute walk to the Metro Lightrail Subway Station
- High-Demand Area with Great Redevelopment Potential: Build 70± Units by ED-1
- Existing Income while working on new development for the 8,287 SF of R4-1 Tier 1 Street to Alley Lot
- Massive new project on north end of the block (Belle on Bev)
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