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Multifamily

1050 S Bonnie Beach Pl

1050 S Bonnie Beach Pl, Los Angeles, CA 90023

Listing Price: $1,100,000

Cap Rate
6.86%
Number of Units
3
GRM
10.96
Occupancy
100.0%
Price/Unit
$366,667
Price/Gross SF
$380.62
Gross SF
2,890

Investment Overview

Marcus and Millichap is pleased to present a three (3) property portfolio (may be sold together or separate) totaling nine (9) unit located in Los Angeles, California. The subject property is situated in an ideal East Los Angeles / Boyle Heights location, north of the -5 freeway and east of the -101 freeway.

Formerly known as the Belvedere Gardens, the East Los Angeles submarket is an unincorporated area free from municipal corporate governance. It is a well-connected transportation hub with access to light rail service and the Los Angeles County Metropolitan Transportation Authority (Metro). There are five (5) public schools and three (3) private schools, as well as many landmarks such as the Commerce Center and the Montebello Country Club. The area is currently experiencing an increase in development as the county continues to push for supportive housing and other programs with over $149m in grants available as of July 2023. Recently, Meta Housing Corp has announced the completion of the La Paza Apartments, a new affordable housing complex at the intersection of Whittier Boulevard and Downey Avenue. The project features a three-story building with 42 apartments. Another project that is nearing completion is the “3+D”, a 78-unit apartment building that broke ground in late 2021 along the corner of 3rd Street and Dangler Avenue.

Built in 1954, 2722 E 2nd Street contains an exceptional unit mix of two (2) two-bedroom / one-bathroom units and one (1) three-bedroom / two-bathroom detached single-family residence. There is ample on-site parking available.

Built in 1927, 1050 S Bonnie Beach Place contains a incredible unit mix of two (2) two-bedroom / one and a half-bathroom units and one (1) three-bedroom / one and a half-bathroom unit. There is positive initial cash flow at a 7.26% cap rate on current numbers. Additionally, there is potential to convert the carports into multiple ADU unit(s).

Built in 1973, 926 S Ford Boulevard contains a streamlined unit mix of three (3) two-bedroom / one and a half-bathroom units with a bonus den. There is potential to convert the carports into multiple ADU unit(s).

Situated in an ideal East Los Angeles / Boyle Heights location, this offering presents an excellent opportunity for any investor to capitalize on 30-year fixed residential financing to acquire up to three (3) triplexes all within a few miles of each other.

Investment Highlights

  • Ideal East Los Angeles Location
  • Part of a Three (3) Property Portfolio - May Be Sold Together or Separately
  • All Units are Fully Renovated
  • Incredible Unit Mixes | All 2- & 3-Bedroom Units
  • Exceptional Initial Cash Flow on Each Site with a 6.84% Blended Cap Rate Across the Portfolio
  • All Units are Separately Metered for Gas & Electric
  • Potential to Convert Carports into Multiple ADU Unit(s)
  • Qualifies for 30-Year Fixed Residential Financing

Exclusively Listed By

Financing By

Multifamily

1050 S Bonnie Beach Pl

Listing Price: $1,100,000

Cap Rate
6.86%
Number of Units
3
GRM
10.96
Occupancy
100.0%
Price/Unit
$366,667
Price/Gross SF
$380.62
Gross SF
2,890

Investment Highlights

  • Ideal East Los Angeles Location
  • Part of a Three (3) Property Portfolio - May Be Sold Together or Separately
  • All Units are Fully Renovated
  • Incredible Unit Mixes | All 2- & 3-Bedroom Units
  • Exceptional Initial Cash Flow on Each Site with a 6.84% Blended Cap Rate Across the Portfolio
  • All Units are Separately Metered for Gas & Electric
  • Potential to Convert Carports into Multiple ADU Unit(s)
  • Qualifies for 30-Year Fixed Residential Financing

Investment Overview

Marcus and Millichap is pleased to present a three (3) property portfolio (may be sold together or separate) totaling nine (9) unit located in Los Angeles, California. The subject property is situated in an ideal East Los Angeles / Boyle Heights location, north of the -5 freeway and east of the -101 freeway. Formerly known as the Belvedere Gardens, the East Los Angeles submarket is an unincorporated area free from municipal corporate governance. It is a well-connected transportation hub with access to light rail service and the Los Angeles County Metropolitan Transportation Authority (Metro). There are five (5) public schools and three (3) private schools, as well as many landmarks such as the Commerce Center and the Montebello Country Club. The area is currently experiencing an increase in development as the county continues to push for supportive housing and other programs with over $149m in grants available as of July 2023. Recently, Meta Housing Corp has announced the completion of the La Paza Apartments, a new affordable housing complex at the intersection of Whittier Boulevard and Downey Avenue. The project features a three-story building with 42 apartments. Another project that is nearing completion is the “3+D”, a 78-unit apartment building that broke ground in late 2021 along the corner of 3rd Street and Dangler Avenue. Built in 1954, 2722 E 2nd Street contains an exceptional unit mix of two (2) two-bedroom / one-bathroom units and one (1) three-bedroom / two-bathroom detached single-family residence. There is ample on-site parking available. Built in 1927, 1050 S Bonnie Beach Place contains a incredible unit mix of two (2) two-bedroom / one and a half-bathroom units and one (1) three-bedroom / one and a half-bathroom unit. There is positive initial cash flow at a 7.26% cap rate on current numbers. Additionally, there is potential to convert the carports into multiple ADU unit(s). Built in 1973, 926 S Ford Boulevard contains a streamlined unit mix of three (3) two-bedroom / one and a half-bathroom units with a bonus den. There is potential to convert the carports into multiple ADU unit(s). Situated in an ideal East Los Angeles / Boyle Heights location, this offering presents an excellent opportunity for any investor to capitalize on 30-year fixed residential financing to acquire up to three (3) triplexes all within a few miles of each other.

Exclusively Listed By

Financing By

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