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164-170 S Commonwealth Ave
Los Angeles, CA 90004
Attractively Priced at $293/SF & $166/Land SF · Multifamily Property For Sale
·
7 Units
PROPERTY FACTS
| No. Units | 7 | Building Size | 6,486 SF |
| Property Type | Multifamily | Average Occupancy | 86% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1950 |
| Building Class | C | Parking Ratio | 1.54/1,000 SF |
| Lot Size | 0.26 AC | ||
| Zoning | LAR3 | ||
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 6,486 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built | 1950 |
| Parking Ratio | 1.54/1,000 SF |
| Zoning | LAR3 |
ABOUT 164-170 S COMMONWEALTH AVE , LOS ANGELES, CA 90004
Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale a seven-unit apartment community located at 164 South Commonwealth Avenue, a value-add opportunity located on the eastern edge of the thriving Koreatown submarket. Built in 1950, the subject property features well laid out floor plans consisting of one-bedroom and two-bedroom units along with a large three-bedroom unit. The property is individually metered for electric and gas and is subject to Los Angeles rent control statutes. The subject property also presents an opportunity for development-minded investors. The 11,426 square foot parcel is zoned LAR3 and Tier 1 Transit Oriented Community (TOC). 164 South Commonwealth offers investors the opportunity to implement a comprehensive interior and exterior renovation to re-position the property and increase rental income by an estimated 56 percent along with favorable high-density zoning. The subject property is ideal for an investor seeking a value-add project with multiple exit strategies.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 2 | - | - |
| 3+2 | 1 | - | - |
PROPERTY TAXES
| Parcel Number | 5501-018-024 | Improvements Assessment | $193,802 |
| Land Assessment | $255,692 | Total Assessment | $449,494 |
PROPERTY TAXES
