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Listed by Eric Chavez • CAREBF INC
$ 1,000,000
Est. payment /mo
Active
3009 Wabash Avenue Los Angeles, CA 90063
3,850 SqFt
UPDATED:
08/07/2024 05:25 AM
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 3,850 sqft
Price per Sqft $259
MLS Listing ID CRCV24105481
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1923
Lot Size 9,341 Sqft
Property Description
The current ownership has owned the subject property since 1987. Currently the property is occupied by three (3) tenants & one (1) billboard lease. All the current tenants are on a Month-To-Month lease term. Current annual rental income is estimated to be $53,084.00. The property has an easement or right of way over the neighboring property, making parking in the rear accessible. 3009 Wabash Avenue is opportunity to purchase a multi-tenant street retail/commercial single-story building that consist of 3,850+/- square feet located on a lot size of 9,338+/- square feet of semi-improved land zoned “C2†Commercial Zone, with 70 linear feet along Wabash Ave. C2 zoning provides a wide range of uses, for example any use permitted in the C1.5, C1 and CR, Carpenter, plumbing or sheet metal shop, Catering shop, Interior decorating or upholstering shop and Restaurant. Retail Repositioning Opportunity: With the potential to construct up to 25 residential units, there is a significant opportunity for retail repositioning. According to the Los Angeles City Planning guidelines, projects considering an affordable housing component can benefit from several incentives allowing for an increase in density without requiring a zone change or a variance. These incentives include the TOC program or
Location
State CA
County Los Angeles
Interior
Fireplace No
Building
Water Public
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