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198 S Commonwealth Ave, Los Angeles, CA 90004
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198 S Commonwealth Ave Los Angeles, CA 90004

$3,000,000
  • -- Beds
  • -- Baths
  • 8,486 Sq.Ft.
For Sale
$3,000,000 Get Pre-Qualified
Map preview of 198 S Commonwealth Ave, Los Angeles, CA 90004

Property Overview: 198 S Commonwealth Ave Los Angeles, CA has -- bedrooms, -- bathrooms, 8,486 living square feet and 7,438 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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.

Listed by Paul Barbosa | BRE #01435896 | Century 21 Hollywood
Co-listed by Edward Frish | BRE #01252271 | Century 21 Hollywood
Last checked: 22 seconds ago | Last updated: February 16th, 2024 | Source CRMLS | DOM: 120
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Home details

Lot Sq. Ft
7,438
HOA Dues
$0/mo
Year built
1924
Garage
--
Property Type:
Other
Status
Active
MLS#
23339495
City
Los Angeles
County
Los Angeles
Time on Site
136 days
Property Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
Property Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.87%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: --
  • Net Operating Income: $116,205
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 198 S Commonwealth Ave

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Property Details for 198 S Commonwealth Ave

Interior Features
Interior Features
  • Security Features: Smoke Detector(s)
Lot Details / Garage and Parking
Property Information
  • Total # of Units: 8
  • Parcel Number: 5501018018
  • Entry Level: 1
Location / Neighborhood
Location Information
  • Directions: East of Virgil ave and North of W 3rd St and south of Beverly Blvd
View more facts & features

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Sale History for 198 S Commonwealth Ave

Last leased for $2,400 on November 2nd, 2022

  • December, 2023

  • Dec 13, 2023

    Date

    Active

    CRMLS: 23339495

    $3,000,000

    Price

  • November, 2022

  • Nov 2, 2022

    Date

    Leased

    CRMLS: 22189517

    $2,400

    Price

  • Aug 13, 2022

    Date

    Active

    CRMLS: 22189517

    $2,450

    Price

  • Listing provided courtesy of CRMLS

    2BR/1BA Classic apartment for rent in the Mid-Wilshire area of Los Angeles. It feels like a NY style apartment in Los Angeles. This classic apartment has original hardwood floors with some modern updated including, appliances, furnishings, etc. There's a formal dining room and it's well lit and spacious. There's a rear door for another way in or out. Community laundry and great central location. No parking and No Pets.

  • July, 2022

  • Jul 30, 2022

    Date

    Leased

    CRMLS: 22166729

    $1,850

    Price

  • Jun 10, 2022

    Date

    Active

    CRMLS: 22166729

    $1,850

    Price

  • Listing provided courtesy of CRMLS

    Classic 1BR/1BA apartment for rent in the Wilshire district. Previous tenant lived in the unit for 40 years! The place has been updated with a new kitchen, updated bathroom, some windows, AC unit added and hardwood flooring. Although there is no parking there appears to be ample street parking. NO PETS, NO SOMKING on premises. Available now!

  • July, 2022

  • Jul 7, 2022

    Date

    Leased

    CRMLS: 22160203

    $2,500

    Price

  • May 23, 2022

    Date

    Active

    CRMLS: 22160203

    $2,500

    Price

  • Listing provided courtesy of CRMLS

    2BR/1BA Classic apartment for rent in the Mid-Wilshire area of Los Angeles. It feels like a NY style apartment in Los Angeles. This classic apartment has original hardwood floors with some modern updated including Mini-spit AC units, appliances, furnishings, etc. There's a formal dining room and it's well lit and spacious. There's a rear door for another way in or out. Community laundry and great central location. No parking and No Pets.

  • September, 2021

  • Sep 7, 2021

    Date

    Canceled

    CRMLS: 21757560

    $1,800

    Price

  • Aug 11, 2021

    Date

    Withdrawn

    CRMLS: 21757560

    $1,800

    Price

  • Jul 17, 2021

    Date

    Active

    CRMLS: 21757560

    $1,800

    Price

  • Listing provided courtesy of CRMLS

    Fantastic 1BR/1BA apartment for rent. Well maintained bldg with pride of ownership landlord. Side unit 1BR available. Very impressive, bright and airy unit with hardwood floors, ac unit, stove, refrigerator, on site laundry, clean and ready to move in. Tenant responsible for electric only and gas is paid by the landlord. Although there is no parking spot with this unit there is ample street parking and rent controlled bldg. No pets allowed. Call for an application!

  • January, 2021

  • Jan 31, 2021

    Date

    Leased

    CRMLS: 20631554

    $1,650

    Price

  • Jan 7, 2021

    Date

    Price Change

    CRMLS: 20631554

    $1,650

    Price

  • Jan 5, 2021

    Date

    Price Change

    CRMLS: 20631554

    $1,700

    Price

  • Nov 24, 2020

    Date

    Price Change

    CRMLS: 20631554

    $1,750

    Price

  • Nov 7, 2020

    Date

    Price Change

    CRMLS: 20631554

    $1,850

    Price

  • Sep 11, 2020

    Date

    Active

    CRMLS: 20631554

    $1,900

    Price

  • Listing provided courtesy of CRMLS

    Must see this charming cozy 1 bed/1 bath, hardwood floors, stove, refrigerator, community washer and dryer in the building. Great living room with dining area, decorative fireplace and ceiling fan. Pride of ownership building and grounds.

  • July, 2020

  • Jul 19, 2020

    Date

    Leased

    CRMLS: 20604656

    $1,750

    Price

  • Jul 15, 2020

    Date

    Active

    CRMLS: 20604656

    $1,750

    Price

  • Listing provided courtesy of CRMLS

    Second floor cozy 1 bed/1 bath, hardwood floors, stove, refrigerator, air conditioner with community washer and dryer in the building. Great living room with dining area, decorative fireplace and ceiling fan. Pride of ownership building and grounds.

  • February, 2020

  • Feb 18, 2020

    Date

    Leased

    CRMLS: 20543796

    $2,400

    Price

  • Jan 14, 2020

    Date

    Active

    CRMLS: 20543796

    $2,400

    Price

  • Listing provided courtesy of CRMLS

    Don't miss the Charmer!!! Spacious 2 bedroom, 1 bath + den! Takes you back to detail as classic living. Hardwood floors, stove, refrigerator, community washer and dryer in the building. Beautiful living space with french windows, glass wall sconces, decorative fireplace and ceiling fan. Lots of closet space, bright and light with a shared balcony. 9-10 foot ceilings throughout. The kitchen is stunning with wood counter-tops and an abundance of storage. Pride of ownership building and grounds.

  • October, 2018

  • Oct 30, 2018

    Date

    Leased

    CRMLS: 18389132

    $2,200

    Price

  • Oct 20, 2018

    Date

    Price Change

    CRMLS: 18389132

    $2,200

    Price

  • Sep 21, 2018

    Date

    Active

    CRMLS: 18389132

    $2,350

    Price

  • Listing provided courtesy of CRMLS

    Don't miss the Charmer!!! Spacious 2 bedroom, 1 bath + den! Takes you back to detail as classic living. Hardwood floors, stove, refrigerator, community washer and dryer in the building. Beautiful living space with french windows, glass wall sconces, decorative fireplace and ceiling fan. Lots of closet space, bright and light with a shared balcony. 9-10 foot ceilings throughout. The kitchen is stunning with wood counter-tops and an abundance of storage. Pride of ownership building and grounds.

  • March, 2018

  • Mar 9, 2018

    Date

    Leased

    CRMLS: 18319958

    $1,700

    Price

  • Mar 5, 2018

    Date

    Active

    CRMLS: 18319958

    $1,700

    Price

  • Listing provided courtesy of CRMLS

    Must see this charming cozy 1 bed/1 bath, hardwood floors, stove, refrigerator, community washer and dryer in the building. Great living room with dining area, decorative fireplace and ceiling fan. Pride of ownership building and grounds.

  • February, 2012

  • Feb 13, 2012

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • June, 2003

  • Jun 12, 2003

    Date

    Sold (Public Records)

    Public Records

    $675,000

    Price

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Tax History for 198 S Commonwealth Ave

Assessed Value (2020): $893,901
Year Land Value Improved Value Assessed Value
2020 $397,288 $496,613 $893,901

Home Value Compared to the Market

This property vs the competition

198 S Commonwealth Ave is listed 142.72% higher than the median list price for the city of Los Angeles which has a median list price of $1,236,000. The median price per/sqft for Los Angeles is $773 and this home is listed at $353.52 per/sqft which puts the price per square foot 54.27% lower than the median price per square foot for the city of Los Angeles.

About 198 S Commonwealth Ave

Detailed summary of property

198 S Commonwealth Ave is a other located in Los Angeles, CA 90004 and is currently for sale. This property offers -- bedrooms, -- bathrooms, roughly 8,486 living square feet, and sits on an approximately 7,438 square foot lot. 198 S Commonwealth Ave was first listed on ArdentRealEstateGroup.com on December 13, 2023. The homeowner is currently asking $3,000,000. The median priced home in Los Angeles is $1,236,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 142.72% higher than the median priced home. Local competing homes currently for sale include 5975 S Broadway, 1040 S Robertson Blvd and 731 W 80th. While the average home in Los Angeles, CA is selling in 96 days, 198 S Commonwealth Ave has a days on market of 120 days. There are currently 3487 homes for sale in the Los Angeles real estate market and 2373 of them are single family homes while 1015 of them are condos and 93 are townhomes. For more information on this home for sale at 198 S Commonwealth Ave Los Angeles, CA 90004 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 198 S Commonwealth Ave

Public county record property details
Beds
12
Baths
8
Year built
1924
Sq. Ft.
8,486
Lot Size
7,435
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
35
APN
5501-018-018

The source for these homes facts are from public records.

90004 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,349,000
Median List Price/Sq.Ft.
$806
Median Sold Price
$1,163,014
Median Sold Price/Sq.Ft.
$789
Total Inventory
67
Median Sale to List Price %
93.04%
Avg Days on Market
39
Loan Type
Conventional (27.27%), FHA (0%), VA (0%), Cash (9.09%), Other (9.09%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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