220 Bonnie Brae St Los Angeles, CA 90057

This exceptional investment opportunity presents a 7-unit apartment building (including a permitted ADU) situated on a substantial 8,287 square foot lot in Los Angeles's desirable Echo Park neighborhood. The property boasts a current NOI of $75,138, with a pro-forma NOI of $128,756 after the completion of the approved Accessory Dwelling Unit (ADU). The existing building features 6 units, all currently occupied, and the approved plans for the ADU will add a 2-bedroom, 2-bathroom unit. The property's R4-1 Tier 1 zoning, coupled with its 165 x 50 foot dimensions and 20-foot alley access, presents significant redevelopment potential, allowing for the construction of approximately 70 units under ED-1 guidelines. The property includes 5 parking spaces and is conveniently located within a 15-minute walk of the Metro Subway Station, making it highly attractive in a pedestrian-friendly area. This prime location offers easy access to major freeways (101 and 110), placing it within close proximity to Downtown Los Angeles, Silver Lake, Koreatown, and Hollywood. The asking price is $1,225,000, representing a 5.46% cap rate and a pro-forma cap rate of 9.36%. The property is being sold as-is, with long-term tenants in place. A new owner will need to communicate with tenants after the close of escrow. This presents a unique chance to acquire a high-yield property with substantial upside potential in a rapidly appreciating market. The property's walkability, transit access, and redevelopment potential make it an ideal investment for both seasoned and emerging real estate investors.