943 S Bonnie Beach Pl - Apartments FOR SALE


Los Angeles, CA 90023- East Los Angeles
$2,750,000 USD
213-943-1897
943 S Bonnie Beach Pl, Los Angeles, CA for Sale
$2,750,000 USD
Apartments - FOR SALE
1/8
null | 6.9% Cap Rate

943 S Bonnie Beach Pl
Los Angeles, CA 90023
East Los Angeles


HIGHLIGHTS

  • The property operates 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. The retail and services of Whittier Boulevard sit 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.

OVERVIEW

The SR Group of Marcus & Millichap, as the exclusive listing agent, is 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.

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$327 USD /SF

# OF UNITS

16

PRICE/UNIT

$171,875

CAP RATE

6.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1923

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.37 AC

LAND SF

16,000 SF

ZONING

LCR4YY

APN/PARCEL ID

5239-020-009

ASK ABOUT THIS PROPERTY

Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

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Sean RosenzweigMarcus & MillichapMore Info
213-943-1897

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.