Property Detail

Description

Located within a small, privately held residential compound, 1617 S Bonnie Brae St presents an opportunity to acquire a four-unit, two-story multifamily property in a central Los Angeles location. Built in 1912, the property consists of four (4) very large 1BR/1BA units totaling approximately 4,222 square feet on a 6,377 square foot lot. The building is separately metered for electricity, with the landlord responsible for water only. Zoned RD1.5-1 and located within a Historic Preservation Overlay Zone (HPOZ) and TOC Tier 3, the property is subject to the City of Los Angeles Rent Stabilization Ordinance (RSO). The property is currently tenant-occupied and generating approximately $5,300 in monthly gross rent, offering long-term rental upside for an investor willing to improve operations and address deferred maintenance. The property is part of a unique cluster of four contiguous parcels under common ownership, which may be purchased individually or together as a portfolio. All four parcels can be purchased together for $2,950,000. Buyer to independently verify square footage, unit mix, zoning, rent control applicability, permits, and all development or redevelopment potential. Ideally situated near DTLA, Koreatown, USC, and major transportation corridors. Note: interior photos were limited for privacy reasons as the property is occupied.