220 S Bonnie Brae Street

Los Angeles, CA 90057

$1,225,000

List Price

12

bed Beds

14

shower Baths

6,989 sqft

straighten / sqft

1948

calendar_month Built

Property Description

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.

Listing Information

List Price $1,225,000
Status Active
MLS 24417167
Type Residential Income
Year Built 1948
Lot Size 8,289
Structure Size 6,989
DOM 26
Courtesy Of Keller Williams Beverly Hills
Listing Agent Dario Svidler DRE#01884474

Interior Features

Total Bedroom
Bedrooms 12
Total Bathroom
Bathrooms 14

Exterior Information

Maps

Listing information courtesy of: Dario Svidler, Keller Williams Beverly Hills . *Based on information from the Association of REALTORS/Multiple Listing as of Jul 26th, 2024 at 12:07 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.