6 Units + ADU RTI in HiFi - Build 70± Units | 220 S Bonnie Brae St
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
6 Units + ADU RTI in HiFi - Build 70± Units 220 S Bonnie Brae St
7 Unit Apartment Building $1,767,234 CAD ($252,462 CAD/Unit) 6.13% Cap Rate Los Angeles, CA 90057
INVESTMENT HIGHLIGHTS
- 6 Units with ADU as RTI for a 7th Unit
- Around a fifteen minute walk to the Metro Lightrail Subway Station
- Existing Income while working on new development for the 8,287 SF of R4-1 Tier 1 Street to Alley Lot
- Very Walkable, Excellent Transit, Bikeable - per Walk Score
- High-Demand Area with Great Redevelopment Potential: Build 70± Units by ED-1
- Massive new project on north end of the block (Belle on Bev)
EXECUTIVE SUMMARY
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.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$177,884
|
$25.45
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,337
|
$0.76
|
| Effective Gross Income |
$172,547
|
$24.69
|
| Taxes |
-
|
-
|
| Operating Expenses |
$64,657
|
$9.25
|
| Total Expenses |
$64,657
|
$9.25
|
| Net Operating Income |
$107,890
|
$15.44
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $177,884 |
| Annual Per SF | $25.45 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,337 |
| Annual Per SF | $0.76 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $172,547 |
| Annual Per SF | $24.69 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $64,657 |
| Annual Per SF | $9.25 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $64,657 |
| Annual Per SF | $9.25 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $107,890 |
| Annual Per SF | $15.44 |
PROPERTY FACTS Under Contract
| Price | $1,767,234 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $252,462 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 6.13% | Building Size | 6,989 SF |
| Gross Rent Multiplier | 11.1 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1948 |
| Property Subtype | Apartment | Parking Ratio | 0.72/1,000 SF |
| Price | $1,767,234 CAD |
| Price Per Unit | $252,462 CAD |
| Sale Type | Investment |
| Cap Rate | 6.13% |
| Gross Rent Multiplier | 11.1 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 6,989 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 0.72/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,633 CAD | - |
| 2+1 | 2 | $2,285 CAD | - |
| 2+2 | 1 | $3,534 CAD | - |
1 of 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (72)
PROPERTY TAXES
| Parcel Number | 5154-001-024 | Total Assessment | $1,900,517 CAD |
| Land Assessment | $1,551,445 CAD | Annual Taxes | $0 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $349,072 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5154-001-024
Land Assessment
$1,551,445 CAD
Improvements Assessment
$349,072 CAD
Total Assessment
$1,900,517 CAD
Annual Taxes
$0 CAD ($0.00 CAD/SF)
Tax Year
2024
ZONING
| Zoning Code | R4-1 Tier 1 (RTI ADU for front garages. Information above assumes the ADU as built. Current Expected GRM 11.1 and Current Expected CAP is 5.46%.) |
| R4-1 Tier 1 (RTI ADU for front garages. Information above assumes the ADU as built. Current Expected GRM 11.1 and Current Expected CAP is 5.46%.) |
1 of 36
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
6 Units + ADU RTI in HiFi - Build 70± Units | 220 S Bonnie Brae St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.