3009 Wabash Ave, Los Angeles, CA 90063

This exceptional Los Angeles commercial property at 3009 Wabash Avenue offers a compelling investment opportunity. The 3,850-square-foot, single-story building sits on a 9,338-square-foot lot zoned C2, providing a wide range of permitted uses, including those allowed under C1.5, C1, and CR zoning. Currently, the property boasts 100% occupancy with three tenants on month-to-month leases, generating an estimated $53,084 in annual rental income. The building, constructed in 1923, includes 10 parking spaces, facilitated by an easement over the adjacent property. Located in Boyle Heights, this property enjoys a 94 Walk Score and benefits from high daily traffic volume (over 8,494 cars). Its proximity to Downtown Los Angeles, Little Tokyo, and the Arts District adds significant value. The C2 zoning, combined with the Tier 1 TOC designation, presents a significant retail repositioning opportunity, with the potential to develop up to 25 residential units, leveraging incentives like the TOC program or the State Density Bonus Program for affordable housing components. This property offers a blend of immediate income and substantial long-term development potential in a thriving Los Angeles neighborhood. The asking price is $1,000,000, translating to $259.74 per square foot and $130.43 per square foot for land value. The property's 70 linear feet of frontage along Wabash Avenue further enhances its visibility and appeal.