• Asking Price $3,000,000
  • Estimated Value: $994,669

  • 198 S COMMONWEALTH AVE LOS ANGELES, CA 90004

  • 12 Beds 8 Baths 8,486 SqFt
  • Townhouse or Condo / Resale (MLS)
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Property Details for 198 S COMMONWEALTH AVE, LOS ANGELES, CA 90004

Features

  • Price/sqft: $353
  • Lot Size: 7435
  • Total Units: 8
  • Total Rooms: 5
  • Room List: Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
  • Construction Type: Wood

Facts

  • Year Built: 01/01/1924
  • Property ID: 839530965
  • MLS Number: 23-339917
  • Parcel Number: 5501-018-018
  • Property Type: Townhouse or Condo
  • County: LOS ANGELES
  • Listing Status: Active

Sale Type

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

Description

This listing is NOT a foreclosure. Attention 1031 exchange funds and astute investors! An unparalleled investment opportunity awaits in the heart of Los Angeles at 198 S Commonwealth Ave, a well maintained building with pride of ownership, updates and upgrades which include, mini split HVAC in some units, updated units, stainless steel appliances. Presenting a prime commercial property in the thriving Wilshire Center district, where cultural diversity and urban vitality intersect. This strategically located asset offers tremendous potential for savvy investors seeking to maximize their 1031 exchange funds. Embrace the dynamic spirit of this bustling neighborhood, where a myriad of shops, eateries, and businesses flourish, ensuring a steady flow of foot traffic and consumer demand.Set your sights on the endless possibilities this property holds. With its proximity to renowned Korean barbecue restaurants, trendy cafes, and specialty stores, capitalize on the vibrant retail landscape that has made this district a sought-after destination for locals and visitors alike. Transportation convenience further enhances the investment appeal. Multiple bus lines and the Wilshire/Vermont Metro station offer seamless connectivity, facilitating easy access for patrons from across the city. This accessibility, coupled with the neighborhood's central location, ensures strong demand and long-term growth potential. 100% Occupied. Rent Control Rent Increase freeze is being lifted in February 2024 with a 4% allowable rental increase. All tenants are on month to month. Historically low to no vacancies. Pictures are from various units in the building from the recent past. SqFt of units is estimated. Drive by only! DO NOT disturb tenants.

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Property Brokerage: Century 21 Hollywood 5827 W. Franklin Los Angeles CA 90028
Copyright © 2024 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


All information provided is deemed reliable, but is not guaranteed and should be independently verified.

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