Investment Overview

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 1419 S Bonnie Brae Street in Los Angeles, California. The subject property is situated in a strong Pico Union location, north of Venice Boulevard and east of Hoover Street. Bordered by Olympic Blvd and the Santa Monica Freeway on the north and south, and by the Harbor Freeway and Hoover Street on the east and west, Pico Union is among the city’s most architecturally diverse and distinctive communities. This centrally located neighborhood provides residents with 24-hour entertainment in a rather suburban area. Currently, Pico Union has undergone massive revitalization efforts to increase local desirability and bring in new job opportunities. Investors continue to look towards Pico Union as redevelopment efforts increase. This area also offers residents with easy access to nearly every part of LA via the nearby LA Metro and US -10 and -110 Freeways. 1419 S Bonnie Brae St is located in the eastern portion of Pico Union, to many walkable commercial corridors. Residents can walk less than one (1) block south to Venice Blvd to visit Venice Meat Market, Marisol Market, Yum Yum Donuts, Portobanco’s takeout, and Herbalife Healthylifenow supplement store. Walk two (2) blocks north to W Pico Blvd to visit The Salvation Army Thrift Store, King Taco, El Tikal Restaurante Bar, Mood Fabrics, and Pico Donuts. This property is also located near two (2) pocket parks providing quaint green space in the heart of this dense urban center. Terrace Park is located less than one (1) block north of the subject and Pico Union Vest Pocket Park is about three (3) blocks south of the subject property. Built in 1922, this property contains a great unit mix of three (3) one-bedroom / one-bathroom units and one (1) two-bedroom / one-bathroom unit that will be delivered vacant. The building boasts charming, craftsman style architecture. Each unit is spacious and bright with tons of built-in storage and plenty of windows letting in natural light. Select units feature private balcony space. The property has fully parked on-site parking along with four (4) garages spaces in the back that are 100% vacant and ready to rent for immediate income or convert in multiple ADU unit(s). Tenants will enjoy being within short driving distance to all major destinations in Los Angeles. Downtown is less than three (3) miles away and Koreatown is less than two (2) miles away, making this property a young professional’s dream. Situated in a strong Pico Union location, this offering presents an excellent opportunity for any investor capitalize on a highly leveraged 30-year fixed residential loan with a possible owner-user play while collecting immediate upside by either renting out the vacant garage spaces or converting them into multiple ADU(s).