943 S Bonnie Beach Pl, Los Angeles, CA 90023
- $2,750,000
- 18
- BD
- 16
- BA
- 8,400
- SqFt
- List Price
- $2,750,000
- MLS#
- 26986177
- Status
- ACTIVE
- Type
- Multifamily
- Bedrooms
- 18
- Bathrooms
- 16
- Living Area
- 8,400
Property Description
We are 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.
Additional Information
- Year Built
- 1923
- Garage
- Uncovered
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Courtesy of Marcus & Millichap, Sean Rosenzweig.
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