We’re pleased to announce the successful sale of 660 S. Bonnie Brae St., which closed for $800,000.
This transaction was a true collaboration between Total Realty Group (TRG) and VCA Realty, two commercial real estate teams at Keller Williams Eagle Rock. After VCA Realty had been marketing the property, TRG was brought on to provide an independent analysis, expand the property’s exposure, and work alongside their team to identify the right buyer.
Originally operated as the People’s College of Law, the property had been vacant for an extended period and had experienced deferred maintenance. While many buyers saw the work that needed to be done, the right buyer saw something different a property with character, long-term potential, and an opportunity to create value.
After receiving multiple offers throughout the marketing process, the property was ultimately purchased by the Camino Nuevo Charter Academy, the school located immediately next door. Their acquisition allows for the expansion of their existing campus while preserving and repurposing a property that had been sitting vacant.
The property consists of approximately 9,869 square feet on a 0.13-acre LAC4-zoned lot, offering flexibility for a variety of commercial and residential uses. Its central Los Angeles location, combined with its zoning and redevelopment potential, made it a unique opportunity for the right buyer.
This transaction is a great reminder that value isn’t always found in a property’s current condition. Sometimes it’s found in its location, its potential, and the vision of the buyer. Although the property required significant improvements, it ultimately found the perfect owner, one whose long-term plans aligned with the property’s highest and best use.
Congratulations to our clients, the buyer, and everyone involved in bringing this transaction to a successful close. We’d also like to thank VCA Realty for their partnership throughout the process. We appreciate the opportunity to work together and look forward to future collaborations.