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Multifamily

1419 S Bonnie Brae St

1419 S Bonnie Brae St, Los Angeles, CA 90006

Listing Price: $875,000

Cap Rate
4.35%
Number of Units
4
GRM
15.37
Occupancy
97.0%
Price/Unit
$218,750
Price/Gross SF
$207.44
Gross SF
4,218

Investment Overview

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 1419 South Hobart Boulevard in Los Angeles, California. The subject property is situated adjacent to Koreatown in Pico Union, 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 citys 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, Portobancos 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, 1419 S Bonnie Brae St contains a good unit mix of two (2) one-bedroom/one-bathroom units and two (2) two-bedroom/one-bathroom units. 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. These units sit in a 4,200 SF building on the near 6,500 SF lot. The property boasts a classic Koreatown style aesthetic with colorful exterior paint and squared protruding roof. This well-maintained property features a quaint, grassy front yard and is securely gated with controlled entry access. The property includes four (4) one-car garages located at the rear end of the property, plus additional space for
uncovered parking.
Situated adjacent to Koreatown, this offering presents an excellent opportunity for an astute investor to capitalize on strong rental upside in a revitalizing submarket
of Los Angeles.

Investment Highlights

  • Good Koreatown-Adjacent Location in Pico Union
  • Strong Rental Upside Potential
  • Good Unit Mix
  • Dominant Access to Commercial Corridors - Venice Blvd & W Pico Blvd
  • Well-Maintained & Secure Property Features a Quaint, Grassy Front Yard
  • Four (4) One-Car Garages Plus Additional Uncovered Parking in Back

Exclusively Listed By

Listing Price: $875,000

Cap Rate
4.35%
Number of Units
4
GRM
15.37
Occupancy
97.0%
Price/Unit
$218,750
Price/Gross SF
$207.44
Gross SF
4,218

Investment Highlights

  • Good Koreatown-Adjacent Location in Pico Union
  • Strong Rental Upside Potential
  • Good Unit Mix
  • Dominant Access to Commercial Corridors - Venice Blvd & W Pico Blvd
  • Well-Maintained & Secure Property Features a Quaint, Grassy Front Yard
  • Four (4) One-Car Garages Plus Additional Uncovered Parking in Back

Investment Overview

Marcus and Millichap is pleased to present a four (4) unit apartment building located at 1419 South Hobart Boulevard in Los Angeles, California. The subject property is situated adjacent to Koreatown in Pico Union, 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 citys 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, Portobancos 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, 1419 S Bonnie Brae St contains a good unit mix of two (2) one-bedroom/one-bathroom units and two (2) two-bedroom/one-bathroom units. 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. These units sit in a 4,200 SF building on the near 6,500 SF lot. The property boasts a classic Koreatown style aesthetic with colorful exterior paint and squared protruding roof. This well-maintained property features a quaint, grassy front yard and is securely gated with controlled entry access. The property includes four (4) one-car garages located at the rear end of the property, plus additional space for
uncovered parking.
Situated adjacent to Koreatown, this offering presents an excellent opportunity for an astute investor to capitalize on strong rental upside in a revitalizing submarket
of Los Angeles.

Exclusively Listed By

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