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441 S Commonwealth Ave, Los Angeles, CA 90020

$2,600,000

  • For Sale
  • Active
  • Multi-Family
441 S Commonwealth Ave, Los Angeles, CA 90020 View this property at 441 S Commonwealth Ave, Los Angeles, CA 90020
441 S Commonwealth Ave Los Angeles CA 90020

Property Description

CALL FOR OFFERS DUE DATE 5/5/2017. The Commonwealth Apartments, a 12-unit property located at 441 S. Commonwealth Ave. in LA' s thriving Koreatown. This is an excellent opportunity for investors who want to capitalize on this submarket' s soaring popularity.The unit mix is 10 one-bedroom/one-bath units and 2 two-bedroom/two-bath units. A renovation oriented buyer can remodel and reposition the property to offer millennials a well-appointed alternative to brand-new construction. The property also presents an opportunity for development-minded investors. The 10,201-square-foot lot is zoned R4-2, which allows for no height restriction and a 6:1 Floor to Area Ratio. By right, a developer can construct a 25-unit apartment building plus the
possibility of a density bonus.in light of the robust demand, Koreatown is experiencing an explosion in residential development. The Commonwealth Apartments is surrounded by many of the new developments currently under construction or planned.

Full Property Details for 441 S Commonwealth Ave

  • Price: $2,600,000
  • Status: Active
  • Type: Multi-Family
  • MLS ID: 17-223580
  • Updated: 7/10/2017
  • Added: 98 day(s) ago

Property History

  • 441 S Commonwealth Ave, Los Angeles, CA
  • Listed at $2,600,000 on 4/20/17

Interior

  • Appliances: Refrigerator

Parking

  • Parking Type: Carport

Location

  • Area: Mid-Wilshire (C17)
  • County: Los Angeles
  • Development Name: Mid-Wilshire (C17)
  • Driving Directions: Located directly behind The Commonwealth Apartments, for example, is Element 436 (436 Virgil Ave.), a 74-unit condo building. Rising one block south of The Commonwealth Apartments is Next on 6th (at Virgil & 6th), a 398-unit apartment property with a 20, 000-square-foot Target.

Heating & Cooling

  • Cooling Type: Air Conditioning
  • Heating Type: Wall Gas
  • Heating Fuel: Wall Gas

Structural Information

  • # Buildings: 1
  • Square Feet: 10,049
  • Year Built: 1958

Unit Information

Unit 1

  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 2

  • Total Bathrooms: 2
  • Bedrooms: 2

Lot Features

  • Lot Size (Sq. Ft.): 10,202
  • Lot Size Source: Public Records
  • Zoning: LAR4

Financial Considerations

  • Price Per Sq. Ft.: $258.73

Disclosures and Reports

  • Legal Disclosures: Take Property As Is, Rent Control

Listed by Iconic Investments, Peter Strauss - CA DRE: 01335696

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Estimate the Cost

441 S Commonwealth Ave will cost you if you:

  • Buy it at list price: $
  • Put down a % down payment : $
  • Pay at a interest rate over

  • Pay $ per year in insurance and $ per year in property taxes.

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In the Community

Nearby Schools

441 S Commonwealth Ave, Los Angeles, CA 90020 (MLS# 17-223580) is a Multi-Family property with 12 units containing 0 bedrooms and 0 full bathrooms. 441 S Commonwealth Ave is currently listed for $2,600,000 and was received on April 20, 2017. Want to learn more about 441 S Commonwealth Ave? Do you have questions about finding other Multi-Family real estate for sale in Mid-Wilshire? You can browse all Mid-Wilshire real estate or contact a Coldwell Banker agent to request more information.

Listed by Iconic Investments, Peter Strauss - CA DRE: 01335696