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Map
$3,000,000
●
Property -
For Sale
198 S Commonwealth Ave
Los Angeles, CA 90004
Studio
0 Bath
8486 Sqft
$14,731
Estimated Monthly
$0
HOA / Fees
About This Property
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.
The manager has listed the unit size as 8486 square feet.
The manager has listed the unit size as 8486 square feet.
Unit Size
8,486Ft²
Days on Market
139 days
Land Size
0.17 acres
Price per sqft
$354
Property Type
Property
Property Taxes
-
HOA Dues
-
Year Built
1924
Listed By
Last updated: 5 months ago (CLAWCA #339917)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Dec 13, 2023 | Listed by Century 21 Hollywood | $3,000,000 | |
Listed by Century 21 Hollywood |
Property Highlights
Air Conditioning
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|
Building Info
198 South Commonwealth Avenue
198 South Commonwealth Avenue, Los Angeles, CA 90004
- 1 Unit for Sale