2050-2062 Commonwealth Ave - Apartments FOR SALE


Los Angeles, CA 90027
$5,000,000 USD
213-305-9026
2050-2062 Commonwealth Ave, Los Angeles, CA for Sale
$5,000,000 USD
Apartments - FOR SALE
1/11
null | 5.2% Cap Rate

2050-2062 Commonwealth Ave
Los Angeles, CA 90027


HIGHLIGHTS

  • 2050 North Commonwealth Avenue is a charming 17-unit courtyard apartment community in Los Feliz (90027)
  • Located in Los Feliz, 2050 N Commonwealth Ave is a short distance from many happening shops and a shorty drive primary employers in Hollywood and DTLA
  • 2050 North Commonwealth Avenue has a Walk Score of 89 out of 100. This location is Very Walkable, so most errands can be accomplished on foot
  • The Hollywood-Silver Lake submarket is one of the strongest employment centers in the Los Angeles MSA and offers access to a diverse set of employers
  • There is a significant affordability gap to home ownership within the 90027 zip code, with the median SFR selling for more than $2,280,250
  • There are Fourteen (14) parking spaces in total. Ownership completed the mandatory soft-story retrofit (2020)

OVERVIEW

Built in 1928, 2050 North Commonwealth Avenue is a quintessential 1920s courtyard property that attracts quality residents who appreciate the asset’s style, irreplicable charm, and extremely desirable location. An exceptional unit composition consists of Two (2) 2 Bedroom/1 Bathroom Units, Eleven (11) 1 Bedroom/1 Bathroom Units, and Four (4) Studio apartments. In all, 2050 North Commonwealth Avenue comprises +/- 12,251 square feet of improvements and is sited on a +/- 13,499 square foot parcel. Most apartment units are accessed through an inviting and tastefully landscaped courtyard. Each unit provides front and rear egress, coved ceilings, hardwood flooring, built-in storage, and period details. In recent years, current ownership has completed several meaningful capital expenditures such as the mandatory soft-story retrofit (2020), replacement/repair of all the buildings staircase railings (2022), re-roofed with Class A materials (including tear-off) (2005) and installed a new 100-gallon water heater (2019). Parking is provided for 14 vehicles via eleven (11) on-grade spaces and three (3) enclosed garages. Electrical and gas utilities are separately metered, and each resident pays for their usage. There is also a large common area laundry room with significant storage. Los Feliz is a premier rental destination in Los Angeles and commands rents comparable to many Westside and beach communities. Los Feliz attracts young and diverse residents who appreciate all the unique experiences, hippest restaurants, and destinations in the immediate area. 2050 North Commonwealth Avenue is a short distance from many happening coffee shops and dining options and a short drive from the City's primary employers in Hollywood and Downtown Los Angeles. 2050 North Commonwealth Avenue has a Walk Score of 89 out of 100. This location is Very Walkable so that most errands can be accomplished on foot. This location is in the Greater Griffith Park neighborhood in Los Angeles. Nearby parks include Barnsdall Park, Barnsdall Park, and William Mulholland Memorial.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$408 USD /SF

# OF UNITS

17

PRICE/UNIT

$294,118

CAP RATE

5.2%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Berkshire Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1928

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,568 SF

ZONING

R1

APN/PARCEL ID

5591-008-027

ASK ABOUT THIS PROPERTY

Rich JohnsKW CommercialMore Info
213-305-9026

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Rich JohnsKW CommercialMore Info
213-305-9026

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