326 S Bonnie Brae St, Los Angeles, CA 90057

326 S Bonnie Brae Street is a historic 1911 multi-family building situated in the vibrant Westlake neighborhood of Los Angeles, a densely populated urban area with strong rental demand driven by proximity to downtown employment centers, public transit, and cultural amenities. Comprising five units across approximately 5,019 square feet on a 6,509-square-foot parcel, the property offers a straightforward value-add opportunity with significant income uplift potential through targeted renovations and operational optimizations. Its central location in a high-demand infill market ensures consistent occupancy and long-term holding viability for investors.

The asset boasts a desirable unit mix, including a combination of one- and two-bedroom layouts averaging around 1,000 square feet, appealing to a mix of young professionals, small families, and long-term residents for reduced turnover and enhanced retention. In-place rents are substantially below market comparables by an estimated 20 percent, providing a direct path to value enhancement via cosmetic upgrades such as modernized kitchens, bathrooms, flooring, and appliances—achievable without extensive structural changes. Pro forma analysis projects stabilized annual gross income of $114,000, yielding a 4.75 percent cap rate at the suggested $1,500,000 pricing.

Further upside exists through potential Accessory Dwelling Unit (ADU) development under the property's LAR4 zoning, which supports multi-family density and additional units subject to City of Los Angeles approvals, enabling expanded revenue without compromising the existing footprint. Physical condition shows some deferred maintenance, presenting an opportunity for proactive capex to elevate appeal, while limited driveway parking is offset by abundant street options in this transit-oriented area.

No major capital improvements are noted in recent records, suggesting a focus on interior refreshes to minimize initial outlays. Zoned LAR4 (High Medium Residential), the property benefits from its position in a transit-priority corridor but is subject to the Los Angeles Rent Stabilization Ordinance (RSO), with all leases on month-to-month terms for flexible rent adjustments. Located within a Liquefaction Zone but outside FEMA flood areas, it aligns with standard urban risk profiles.

Overall, 326 S Bonnie Brae Street delivers a core-plus multi-family investment in central Los Angeles with significant percent rent growth potential, ADU expansion prospects, and a balanced unit mix in a supply-constrained submarket known for resilient performance.