25-Unit Multifamily Apartment
New
For Sale
Contact for pricing
424 S Commonwealth Avenue, Los Angeles, CA 90020
Features secured garage parking, on-site laundry, separately metered utilities, and copper plumbing.
Property SizeContact for details
Days on Market7
Property Features for 424 S Commonwealth Avenue
General Information
Standard status
Active
Total Parking Spaces
29
Property subtype
Multifamily
Net Operating Income
$281,860
Financials
Asking Price
$5,200,000
Cap Rate
5.42%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
19 x 1BR, 4 x studio, 2 x 2BR/2BA
Multifamily Units
25
Amenities
on-site laundry facilities
Building Details
Year Built
1985
Listing Agency:
Stepp Commercial
Listed By:
Robert Stepp · License #CA 01456379
(310) 463-2916
Source:
Crexi
Added: Sep 10
Changed: Sep 16
Last Checked: Sep 16 at 1:55PM
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 Stepp Commercial
Investment Insights
Based on property information with market context.
This 25-unit apartment property, built in 1985, includes 19 one-bedroom apartments, 4 studios, and 2 two-bedroom, two-bath units. The building also provides 29 secured garage parking spaces, on-site laundry, separately metered utilities, and copper plumbing. The property is exempt from the Los Angeles Rent Stabilization Ordinance and seismic retrofitting requirements.
Located at 424 S. Commonwealth Avenue in Koreatown, the property has a Walk Score of 90 and places residents near neighborhood dining, nightlife, shopping, entertainment, and Metro rail service. Its current in-place cap rate is 5.42%, with a projected pro forma cap rate of 6.41%.
Located at 424 S. Commonwealth Avenue in Koreatown, the property has a Walk Score of 90 and places residents near neighborhood dining, nightlife, shopping, entertainment, and Metro rail service. Its current in-place cap rate is 5.42%, with a projected pro forma cap rate of 6.41%.
Key Highlights
- 25 units with 19 one‑bedroom, 4 studios, and 2 two‑bedroom, two‑bath apartments
- 29 secured garage parking spaces
- 5.42% in‑place cap rate and 6.41% projected pro forma cap rate
Property Analytics
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Current Use
Lease Details
25
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
6,339
Businesses Nearby
Explore this area
Business Placement
Demographics for 90020, CA
38,694
Population
19,119
Households
2
Avg Household Size
37
Median Age
46%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
35,176
Density / Sq Mi
$55,832
Median Household Income
$37,718
Median Earnings
$1,734
Median Rent
$826,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Features secured garage parking, on-site laundry, separately metered utilities, and copper plumbing.
Where is this apartment building located?
The property is located at 424 S Commonwealth Avenue Los Angeles, CA.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: 25 units with 19 one‑bedroom, 4 studios, and 2 two‑bedroom, two‑bath apartments; 29 secured garage parking spaces; 5.42% in‑place cap rate and 6.41% projected pro forma cap rate
