Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

4

Building size

4,835 sqft

Lot size

7,873 sqft

Year built

1921

Stories

2

Heating

Wall Furnace

Cooling

None

Pool

None

Status

Active

Days on market

15

MLS #

244617285

About this property

Rare development opportunity, LAR4-1 zoning, TOC Tier 3 designation, steps from MacArthur Park Metro Station. 7,870 SF rectangular lot. Est. ~33 buildable units with a density bonus, increased FAR, and potentially eliminated parking per AB 2097, subject to City review and independent verification. Existing improvements: 4-unit residential building built 1921 (approx. 4,835 SF). Sold strictly AS-IS. Owner-occupied unit delivered vacant at close of escrow. Three units tenant-occupied and subject to the City of Los Angeles Rent Stabilization Ordinance (RSO) and California's Tenant Protection Act (AB 1482). All three tenancies transfer to the buyer at close of escrow. Unit 3 currently operates as a licensed family daycare home. SB 234 protections may apply. Buyer strongly advised to retain qualified RSO and land use legal counsel prior to making an offer. All development figures are estimates only. Buyer to independently verify all assumptions with a licensed architect and the City of Los Angeles. Seller and listing brokerage make no guarantees regarding development potential, tenant status, or future financial performance. Equal Housing Opportunity.

Location

446 S Bonnie Brae Street

Los Angeles, Los Angeles, CA, 90057