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220 S Bonnie Brae St, Los Angeles, CA 90057

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For Sale

$1,225,000

12 beds • 6,989 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $175.28
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

We are proud to exclusively present for sale a 6 Unit + RTI ADU Residential Building with tremendous redevelopment potential in the Historic Filipinotown area of Echo Park! The property currently features a six unit building on an oversized lot with 9 single car garages. The sellers have an RTI / Approved Plan Check to convert the four garages in front into a 2 Bedroom, 2 Bathroom Accessory Dwelling Unit (ADU). With 8,287 SF of R4-1 Tier 1 land, and backing up to a 20 foot wide alley, a developer could build 70+/- units by ED-1. There are long terms tenants; the property will be delivered fully occupied with no relocation agreements. A new owner will need to talk to tenants after close of Escrow. The property is perfect for redevelopment into a market rate project or preferably a 100% Affordable Housing project! With just a 15 minute walk to the Metro Subway Station at MacArthur Park, rest assured that limited (or no) parking should not affect a project in this very pedestrian friendly area. With easy access to the 101 and 110 freeways, this property is centrally located to benefit from what Downtown, Silver Lake, Echo Park, Hollywood, Koreatown and more have to offer! Designated as Very Walkable, Excellent Transit and Bikeable by Walk Score, come build a place your future tenants truly can call home! This high-demand area is in the middle of everything that younger professionals are looking for! Square footage, bedrooms and bathrooms includes the RTI ADU as it will be built. CAP and GRM take into account the budget of $150,000 to build the ADU.
MLS# 24-417167

Courtesy Of KELLER WILLIAMS BEVERLY HILLS REALTY

(310) 432-6400

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other
  • Lot Size
    0.19 Acres

Map and Directions

Directions to 220 S Bonnie Brae St, Los Angeles, CA 90057

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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