Mixed-Use Live/Work and
1524 W Commonwealth Fullerton, CA 92833
For Sale
$1,199,000
Converted residence with live/work office space, multi-tenant residential units, and 11-car parking with alley access.
Property Size2,808 SF
Lot Size0.15 Acres
Price / SF$426.99
Days on Market48
Property Features for 1524 W Commonwealth
General Information
Standard status
Active
Size
2,808 SF
Lot size
0.15 Acres
Property subtype
Commercial
Building Details
Year Built
1948
Listing Agency:
(949) 463-8200
Listed By:
Sandra Sady-Kennedy
(949) 463-8200
Source:
Elliman
Added: Jun 12
Changed: Jul 10
Last Checked: Jul 3 at 3:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sandra Sady-Kennedy
Investment Insights
Based on property information with market context.
This mixed-use property is a converted residence offering live/work office space along with residential income space suitable for multiple tenants. The building contains a total of 2,808 square feet of interior area within a 6,750 square foot lot. Externally, the property has newly constructed fencing surrounding the entire site, and the parking area was repaved last year.
On-site parking is available for up to 11 cars, and alley access provides a rear entrance to support day-to-day operations. The overall configuration provides an integrated setup for a user who wants an attached work component with residential space, as well as an operator looking to manage multiple tenant areas.
For tenants and buyers evaluating fit, the live/work layout can accommodate an office-use component while maintaining residential functionality. The multi-tenant conversion supports flexibility in how space is occupied, and the combination of on-site parking, perimeter fencing, and rear alley access is designed to make arrivals and servicing more straightforward. Whether considered as live/work with residential income or as a multi-tenant investment, this property offers multiple ways to put the existing configuration to work.
On-site parking is available for up to 11 cars, and alley access provides a rear entrance to support day-to-day operations. The overall configuration provides an integrated setup for a user who wants an attached work component with residential space, as well as an operator looking to manage multiple tenant areas.
For tenants and buyers evaluating fit, the live/work layout can accommodate an office-use component while maintaining residential functionality. The multi-tenant conversion supports flexibility in how space is occupied, and the combination of on-site parking, perimeter fencing, and rear alley access is designed to make arrivals and servicing more straightforward. Whether considered as live/work with residential income or as a multi-tenant investment, this property offers multiple ways to put the existing configuration to work.
Key Highlights
- Converted mixed‑use property with live/work office space and multi‑tenant residential units
- 2,808 SF interior with lot size of 6,750 SF
- Parking for up to 11 cars, with alley access for entry through the rear
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.9k | $28.80 |
| − Vacancy | −$4.9k | −$1.73 |
| EGI | $76.0k | $27.07 |
| − OpEx | −$28.5k | −$10.15 |
| NOI | $47.5k | $16.92 |
2,808 SF · lease $28.80/SF/yr · vacancy 6.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$678.7K
$593.9K – $791.9K
NOI $47,511 @ 7.0% cap · market cap 3.96%
Second Best
Office B
$665.1K
$582.0K – $776.0K
NOI $46,558 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$902.9K
$790.1K – $1.05M
NOI $63,206 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Live-work space - Converted residence with live/work office space, multi-tenant residential units, and 11-car parking with alley access.
Where is this live-work space located?
The property is located at 1524 W Commonwealth Fullerton, CA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Converted mixed‑use property with live/work office space and multi‑tenant residential units; 2,808 SF interior with lot size of 6,750 SF; Parking for up to 11 cars, with alley access for entry through the rear
