Save
Ask
Tour
Hide
Share
$1,000,000
213 Days On Site

3009 Wabash Avenue
Los Angeles, CA 90063

For Sale|Commercial Sale|Active
0
Beds
0
Full Baths
0
Partial Baths
3,850
SqFt
$260
/SqFt
1923
Built
County:
Los Angeles
Listed by Eric Chavez of CAREBF INC [email protected]

Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.

3009 Wabash Avenue3009 Wabash Avenue3009 Wabash Avenue3009 Wabash Avenue
Save
Ask
Tour
Hide
Share

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 the State Density Bonus Program. Under the TOC program, 100% Affordable Housing Projects can potentially elevate their Tier designation. For instance, instead of its current Tier 1 designation, this property might qualify for Tier 2. According to TOC Guidelines, the Tier 2 increase in density could reach up to 40%. Don't let this exceptional investment opportunity slip away. Contact us today to explore the potential of this prime commercial property. Location Overview Located just minutes from Downtown L.A., Little Tokyo, and the Arts District, 3009 Wabash Ave, Los Angeles, CA 90063 is situated on a nearly 9,338 SF lot with C2-1-CUGU, Tier 1 T.O.C. Zoning, offering the possibility of future development. The offering benefits from ample parking, a 94 Walk Score, over 8,494 cars passing by daily, and is situated in the high-density rental market of Boyle Heights.

Save
Ask
Tour
Hide
Share
Listing Snapshot
Price 
$1,000,000
Days On Site 
213 Days
Bedrooms 
N/A
Inside Area (SqFt) 
3,850 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.2144 Acres
Year Built 
1923
MLS® Number 
CV24105481
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
Assessor
Friends & Family
Recent Activity
5 months agoPrice changed to $1,000,000
5 months agoListing updated with changes from the MLS®
7 months agoStatus changed to Active
7 months agoListing first seen on site
General Features
Acres 
0.2144
Number Of Stories 
1
Special Circumstances 
Standard
SqFt Total 
3850
Water Source 
Public
Interior Features
Laundry Features 
None
Save
Ask
Tour
Hide
Share
Exterior Features
Lot Features 
Near Public Transit
Community Features
Financing Terms Available 
CashOwner Will CarrySubmit
MLS Area 
BOYH - Boyle Heights


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. The 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, the 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.

Neighborhood & Commute
Source: Walkscore
Save
Ask
Tour
Hide
Share