New Listing
1978 Bonsallo,Los Angeles, CA 90007
Los Angeles, CA 90007
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.
Details
| MLS # | PW26202470 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1923 |
| Days On Site | 5 |
| Listing Provided By | Lyon Stahl Investment Real Est | Ryan Gonzalez |
Features
| SQ Feet | 3,456 |
|---|---|
| Story(s) | 2 |
| Units | 6 |
| Building(s) | 2 |
| Acreage | 0.14 |
Exterior
| Lot Features | Rectangular Lot |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Curbs, Street Lights, Sidewalks, Urban |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90007 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90007) | |
Price: $1,500,000 low | high Med: $1,787,500 sqft: 3,456 low | high Med: 7,270 $ / sqft: $434 low | high Med: $254 On site: 5 low | high Med: 319 | |
Market Activity 90007
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90007 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90007) | |
Price: $1,500,000 low | high Med: $1,787,500 sqft: 3,456 low | high Med: 7,270 $ / sqft: $434 low | high Med: $254 On site: 5 low | high Med: 319 | |
 | $1,200,000920 W 20th StreetLos Angeles, CA 90007 |