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Listed by Ryan Gonzalez, DRE #01874815 • Lyon Stahl Investment Real Est
$ 1,500,000
Est. payment /mo
Active
1978 Bonsallo Los Angeles, CA 90007
6,244 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26202470
Year Built 1923
Lot Size 6,244 Sqft
Source California Regional MLS
Property Description
We are pleased to present 1978 Bonsallo Avenue, a 6-unit multifamily investment opportunity in University Park, Los Angeles. Built in 1923, the two-story, 3,456 SF building sits on a 6,244 SF lot one block south of the I-10 - roughly a mile north of the USC campus and Exposition Park and two miles from Downtown Los Angeles, in one of the most renter-dense pockets in the city. The property offers a well-balanced mix of one 3-bed / 2-bath, two 2-bed / 1-bath, one 1-bed / 1-bath and two studio units. Interiors have been renovated with new shaker cabinetry, stone-look counters, stainless appliances, luxury vinyl plank flooring and updated tiled baths; gas and electricity are separately metered to each unit, and a large front parking court and rear balcony complete the offering. Average in-place rent of $2,115 sits well below market - pro forma rents of $2,441 represent roughly 15% upside on natural turnover. Offered at $1,500,000 ($250,000 per unit, $434.03 per SF), the asset delivers a 7.02% in-place cap rate growing to 8.46% pro forma and a 9.85 GRM, with demand anchored by USC, Exposition Park and Downtown's 325,000 jobs.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Interior
Laundry Laundry Area
Exterior
Garage Spaces 6.0
Pool None
Building
Water District - Public
Others
Tax ID 5124033013
Special Listing Condition Not Applicable
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