1417 S Bonnie Brae Street

    Los Angeles (City), CA 90006
    • $1,675,000
    • STATUS: Active Under Contract
    • ON SITE: 286 days
    • ID#: 19419596
    Under Contract
    UPDATED: 26 min ago
    $1,675,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,438
      SQFT
    • $225
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1910
    County:

    School Ratings & Info

    Description

    Add-Value property. Actual Gross Annual Income - $139,671. As of 6.13.19 the income in unit 7 went up to $2,350. This property was built as a hotel/motel and was converted years ago into an eight units apartment building, however some of the layout of a motel is still there. The zoning does not allow a motel anymore on this property. This cash cow is located in a changing area - south of Korea Town and north of USC. The current owner remodeled some of the units and re-stucco the front. In addition he increased the income significantly, although there is still room to add value. If you have any question, feel free to call the listing agent.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-18T11:35:20.643. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/90615941

    1417 S Bonnie Brae Street Los Angeles (City), CA 90006

    • Price: $1,675,000
    • Status: Active Under Contract
    • Updated: 26 min ago
    • ID#: 19419596
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    7,438
    SQFT
    $225
    $/SQFT
    1910
    Built
    Neighborhood:
    C42 - Downtown L.A.
    County:
    Los Angeles
    Area:
    C42 - Downtown L.A.
    Property Description
    Add-Value property. Actual Gross Annual Income - $139,671. As of 6.13.19 the income in unit 7 went up to $2,350. This property was built as a hotel/motel and was converted years ago into an eight units apartment building, however some of the layout of a motel is still there. The zoning does not allow a motel anymore on this property. This cash cow is located in a changing area - south of Korea Town and north of USC. The current owner remodeled some of the units and re-stucco the front. In addition he increased the income significantly, although there is still room to add value. If you have any question, feel free to call the listing agent.
    Exterior Features

    Lot Size Units Square Feet

    Interior Features

    Cooling None Cooling YN No Laundry Features See Remarks

    Property Features

    Cap Rate 5.90 Gross Multiplier 11.99 Gross Operating Income 139671.00 Improvements Amount 302259 Land Value 512305 Laundry YN Yes Net Operating Income 99554.00 Special Listing Conditions Standard Total Expenses 40118.00 Zoning Lard1.5

    Listing provided courtesy of Shalom Guli of Shalom Guli


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-18T11:35:20.643. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
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