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1031 S Bonnie Beach Place, East Los Angeles, California 90023, Los Angeles, 90023 - 13 bed, 9 bath

1031 S Bonnie Beach Place, East Los Angeles, California 90023 home-pic-0
ACTIVE$2,659,000
1031 S Bonnie Beach Place, East Los Angeles, California 90023
13Beds
9Baths
6,986Sqft
8,002Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
New Construction: Built in 2023, this triplex offers brand new construction, minimizing immediate maintenance costs and capital expenditures for years to come.
Top Cons:
Recent Price Reduction: The property has seen a recent price reduction from $2.7M to $2.659M, which might suggest a lack of initial buyer interest or an overestimation of its market value.

Compared to the nearby listings

Price:$2.66M vs avg $655.0K (+$2,004,000)92%
Size:6,986 sqft vs avg 1,702 sqft92%
Price/sqft:$381 vs avg $38150%

More Insights

Built in 2023 (2 years old).
Condition: This triplex was built in 2023, making it a brand new construction. The description explicitly states it's in 'new construction condition' with 'little to no maintenance for years to come.' The images confirm this, showcasing modern, high-quality finishes throughout, including white shaker cabinets, quartz countertops, herringbone tile backsplash, and stainless steel fixtures in the kitchen, and contemporary vanities with tiled showers and glass doors in the bathrooms. All flooring, lighting, and visible systems appear new and meet current quality standards.
Year Built
2023
Close
-
List price
$2.66M
Original List price
$2.7M
Price/Sqft
$381
HOA
-
Days on market
-
Sold On
-
MLS number
DW24213424
Home ConditionExcellent
Features
Good View: City Lights
ViewCity Lights

About this home

GREAT OPPORTUNITY NEW PRICE. FULLY OCCUPIED. TOTAL 13 BEDROOMS AND 9 BATHROOMS. This beautiful triplex built in 2023. Big lot 8.000 sf. Zoned LCR4 Lot dimension 50x160 Located in East Los Angeles great rental area. Front unit #1031 are 5 beds 3 baths, laundry room inside, long driveway 4 cars parking. Back two units #1033-1 are 4 beds 3 baths, laundry room inside, attached 2 cars garage and additional two cars uncovered parking space. Next unit #1033-2 are 4 beds. 3 bathrooms, laundry room inside, attached 2 cars garage and additional 2 cars uncovered parking space. YEAR BUILT 2023 MAKE IT PERFECT for any investor as well as little to no maintenance for years to come since the property is in new construction condition. Each unit has separate electricity, gas, water meter and tankless water heater. TENANTS PAY UTILITIES. Low maintenance and expenses. Fenced in with wrought iron and block wall all around. ALL THE 3 UNITS TENANT OCCUPIED. Easy access to FWY 101, 710, 5, 10 and 60. Drive 10-15 minutes to downtown of Los Angeles, USC.

Price History

Date
Event
Price
10/05/18
Sold
$430,000
04/17/18
Sold
$410,000
Condition Rating
Excellent
This triplex was built in 2023, making it a brand new construction. The description explicitly states it's in 'new construction condition' with 'little to no maintenance for years to come.' The images confirm this, showcasing modern, high-quality finishes throughout, including white shaker cabinets, quartz countertops, herringbone tile backsplash, and stainless steel fixtures in the kitchen, and contemporary vanities with tiled showers and glass doors in the bathrooms. All flooring, lighting, and visible systems appear new and meet current quality standards.
Pros & Cons

Pros

New Construction: Built in 2023, this triplex offers brand new construction, minimizing immediate maintenance costs and capital expenditures for years to come.
Fully Occupied & Income Generating: All three units are fully occupied, providing immediate and stable rental income for the investor from day one.
Strong Investment Profile: Designed for investors with separate utility meters for each unit, tankless water heaters, and tenants paying utilities, leading to low maintenance and expenses.
Strategic Location & Accessibility: Located in East Los Angeles, a great rental area, with easy access to major freeways (101, 710, 5, 10, 60) and a short 10-15 minute drive to Downtown LA and USC.
Spacious & Well-Equipped Units: The property features a total of 13 bedrooms and 9 bathrooms across three units, each with an inside laundry room and ample parking (driveway and attached garages).

Cons

Recent Price Reduction: The property has seen a recent price reduction from $2.7M to $2.659M, which might suggest a lack of initial buyer interest or an overestimation of its market value.
Absence of Financial Details: Specific rental income figures and a detailed expense breakdown are not provided in the description, requiring significant due diligence for potential investors to assess ROI.
Limited Interior Description: While new, the description lacks specific details regarding interior finishes, appliances, or unique amenities within each unit, which could be important for tenant appeal and valuation.

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