1242 S Bonnie Brae, Los Angeles, California 90006, Los Angeles, 90006 - 4 bed, 2 bath
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Los Angeles, California 90006
This Historic Restoration Asset is a strategic value-add acquisition listed at $740,000, currently priced at its $728,991 Fair Market Value. The projected $1,200,000 After-Repair Value provides a substantial margin for forced appreciation. Holding a Condition Rating of 5, the 1903 Craftsman requires extensive rehabilitation but offers LARD1.5 Zoning, ADU potential, and a City Lights view. Situated in the Alvarado Terrace Historic District near Hoover Street Elementary, the location is prime, with local comparable sales exceeding $810,000. This is an ideal project for Fix-and-Flip Investors and Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1242 S Bonnie Brae Subject | $740,000* List Price | 4 | 2 | 2,207 | $324 | - |
A 1605 S Bonnie Brae Street Pending | $785,000 List Price | 5 | 3 | 2,294 | $342 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1903, this property is explicitly marketed as a restoration project for investors. The home features outdated kitchens and bathrooms, worn flooring, and aged fixtures consistent with its history as a boarding house. The exterior and interior show significant wear and tear, requiring substantial rehabilitation to meet modern standards and realize its projected after-repair value.
Situated in the prestigious Alvarado Terrace Historic District near Downtown LA and Crypto Arena, the property offers high desirability and proximity to major urban employment and entertainment hubs.
The LARD1.5 zoning and detached two-car garage provide a prime opportunity to increase density and value through an ADU conversion or guest house development.
With a list price of $740,000 and a projected After Repair Value (ARV) of $1.2 million, this property offers a lucrative margin for investors and developers looking for a high-yield restoration project.
As a 1903 Craftsman requiring full restoration, the property demands significant capital investment and specialized expertise to navigate historic district guidelines and modern building codes.
The property is currently tenant-occupied and has a history as a boarding house, which may present logistical challenges regarding relocation, financing, and immediate commencement of renovations.
Located in the Highly sought after Alvarado Terrace Historic District of Pico Union, this 1900s Craftsman 5 bedroom 3 bath plus bonus room House awaits the creative Investor or Developer to restore it. Residence boast 2207 sq ft of living space on a lot of 5625 with a Detached two car garage that can potentially be developed into a Guest house or ADU . Used as a boarding house in the past , upon entering you are greeted by a long corridor with Two Independent Living Spaces on each side and enclosed by Large Double doors. Presently Tenant occupied ,each of these living spaces feature a 1bedroom ,living room, kitchen and bathroom . Upstairs you will find incredible sq footage featuring 4 Large bedrooms and One full bathroom. Suggested After repair value (ARV) is 1.2 million ! Zoning is LARD1.5 Surrounded by Million dollar properties with Excellent Transit and just minutes away from Downtown Los Angeles ,Crypto Arena, Larchmont Village, Westlake Village and Hollywood ..location is prime. Don't miss it, great opportunity for the right Investor. Owner motivated, open house coming soon. PLEASE DO NOT DISTURB TENANTS!!!
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.5 mi
Grades K-6 • 0.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 2,207 | 2,207 | 50% |
| Lot Size | 5,625 | 5,843 | 44% |
| Price | $740.0K | $850.0K | 22% |
| Price per sq ft | $335 | $399 | 22% |
| Built year | 1903 | 1905 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 104 | 125 | 33% |
Mar 2, 2026
$740,000
Initial Listing
Feb 24, 2025
$540,000
Public Record
Oct 16, 2013
$315,000
Public Record