198 Commonwealth Avenue, Los Angeles

$3,000,000

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0 Bed
0 Bath
.17 Acre
0 Garage

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.

Essential Information

MLS® #
23339495
Price
$3,000,000
Bathrooms
0.00
Acres
0.17
Year Built
1924
Type
Commercial Sale
Status
Active

Community Information

Address
198 Commonwealth Avenue
Area
C17 - Mid-Wilshire
City
Los Angeles
County
Los Angeles
Zip Code
90004
Senior Community
N

Interior

# of Stories
2

Additional Information

Date Listed
December 13th, 2023
Days on Market
154
Zoning
LAR3

Listing Details

Agent
Paul Barbosa
Office
Century 21 Hollywood

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Buyer's Agent

Jeremiah Moersch REALTOR®

Office: 760-533-2540
Listing Agent
Paul Barbosa - Century 21 Hollywood

Based on information from California Regional Multiple Listing Service, Inc. as of May 15th, 2024 at 12:55am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.