317 North Commonwealth Avenue

Los Angeles, CA 90004

$1,250,000
Price
5
Beds
4
Baths
1,722 Sq. Ft.
$726 / Sq. Ft.
1,722
Sq. Ft.
$726
per Sq. Ft.

Description

$100k price improvement! Seller highly motivated! This duplex in the highly sought after Virgil Village area is a great opportunity for an owner/user or investor who is looking for a great return and huge potential. Both units are renovated and will be delivered vacant. One unit is a 3 bed/2 bath and the other unit is a 2 bed/2 bath. Recently remodeled, both units have central air and heating, engineered hardwood floors, and individual laundry machines and dryers. Owner-owned solar panels for energy...$100k price improvement! Seller highly motivated! This duplex in the highly sought after Virgil Village area is a great opportunity for an owner/user or investor who is looking for a great return and huge potential. Both units are renovated and will be delivered vacant. One unit is a 3 bed/2 bath and the other unit is a 2 bed/2 bath. Recently remodeled, both units have central air and heating, engineered hardwood floors, and individual laundry machines and dryers. Owner-owned solar panels for energy efficient use. Perfect for owner/user to live in one unit and rent out the other. Plenty of parking with a detached carport for 6+ cars and additional room outside for more. Large lot with opportunity to expand. There is room for two additional detached ADUs per code. Also, the property is commercially zoned for even greater use. Buyer to verify any potential expansion plans. There is the possibility of an assumable FHA loan at 3.25%. Contact listing agent for details. Close to all the shops and restaurants at the Sunset Junction, Virgil Village, Silver Lake, Echo Park, Historic Filipinotown, and DTLA. Easy access to the 101 freeway and B Line. This duplex property with expansion possibilities presents the perfect investment opportunity for the right buyer.
  1. Listed by Will Tiao • DRE #01918965 • Brokerage DRE #01335786 • The Collective Realty
  2. Listed by Ken Dennis • DRE #02097826 • Brokerage DRE #01335786 • The Collective Realty

Property Details for 317 North Commonwealth Avenue

Water Front
None
Zoning
LAMR1
Style
Bungalow
Accessibility Features
None
Parcel Number
5501003011
Total Units
2.0
Living Area
1722
Source Living Area
Assessor

Location

Listing Courtesy of The Collective Realty, Will Tiao, DRE #01918965; The Collective Realty, Ken Dennis, DRE #02097826
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LISTING UPDATED: 04/25/2024 09:02 AM

Property Details for 317 North Commonwealth Avenue

StatusActive
MLS #24-356187
Days on Market83
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1915
Lot Size0.17 AC / 7,503 SF
CountyLos Angeles County

Location

Listing Courtesy of The Collective Realty, Will Tiao, DRE #01918965; The Collective Realty, Ken Dennis, DRE #02097826
Add your commute

Building Information for 317 North Commonwealth Avenue

Stories1Residences-Year Built1915Building Size-Lot Size0.17 AC / 7,503 SF

Payment Calculator

$8,029 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,822

Property Taxes

$1,207

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 317 North Commonwealth Avenue

Community / Development
Community / Development
  • Number Of Units: 2
  • Amenities: None
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 1
  • Number Of Buildings: 1
  • Type Of Units: Residential
  • View: Yes
  • View Description: City
  • View: City Lights
  • Security Features: Automatic Gate, Gated
  • Direction Faces: East
  • Property Condition: Updated/Remodeled
  • Water: District
  • Sewer: In Connected and Paid
  • Water Heaters: Yes
  • ADA Compliance: No
  • Additions Alterations: No
  • Water Heater Features: Central Water Heater
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $88,800
  • Net Operating Income: $75,866.00
  • Gross Income: $88,800
  • Cap Rate: 5.60%
  • Gross Rent Multiplier: $15.20
  • Owner Pays: Gardener, Water
  • Total Annual Expense: 12934
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: No
  • Paved: Yes
  • Lot Acreage: 0.1722
  • Lot Size Square Feet: 7503
  • Lot Features: Front Yard, Landscaped, Lawn, Yard, Rectangular Lot
  • Lot Description: Front Yard, Fenced, Gutters, Automatic Gate, Landscaped, Lawn, Yard, Sidewalks, Lot-Level/Flat, Lot Shape-Rectangular
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: Carport Detached
  • Total Parking: 6
  • Covered Parking: 4
  • Open Other Spaces Total: 2
  • Carport Spaces Total: 4
  • Parking Features: Detached Carport
  • Attached Garage: No
Interior Features
Interior Features
  • Room Type: Living Room, Primary Bathroom, Walk-In Closet
  • Rooms: Living Room, Master Bedroom, Walk-In Closet
  • Levels: One
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Cooling: Central Air
  • Cooling Type: Air Conditioning, Central
  • Heating: Central
  • Heating Type: Central
  • Flooring: Engineered Hardwood
  • Equipment: Washer, Dryer, Refrigerator, Freezer, Range/Oven, Garbage Disposal, Solar Panels, Hood Fan, Ice Maker, Dishwasher, Water Line to Refrigerator
  • Interior Features: Common Walls, Drywall Walls, Recessed Lighting, Turnkey
  • Room Kitchen Features: Stone Counters, Remodeled Kitchen
  • Kitchen Features: Stone Counters, Remodeled
  • Room Bathroom Features: Low Flow Toilet(s), Remodeled, Shower in Tub, Tile Counters
  • Bathroom Features: Low Flow Toilet(s), Remodeled, Shower Over Tub, Shower and Tub, Tile
  • Bedroom Features: WalkInCloset
  • Common Walls: Attached
  • Cooking Appliances: Free Standing Gas
  • Laundry: Laundry Area, Room
  • Laundry Equipment: Own
  • Disability Access: None
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • Exterior Features: Rain Gutters
  • Roof: Composition, Shingle
  • Sprinklers: Front
  • Patio Features: Porch - Front
  • Entry Location: Ground Level w/steps
  • New Construction: No
  • Construction Materials: Stucco
  • Exterior Construction: Stucco
  • Foundation Details: Raised
  • Other Structural Features: Rain Gutters
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-09-2024
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $4,000.00
  • Unit Actual Rent: $4,000.00
  • Unit Projected Rent: $4,000.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $3,400.00
  • Unit Actual Rent: $3,400.00
  • Unit Projected Rent: $3,400.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
  • Number of Carpet: 0
  • Number of Dishwasher: 2
  • Number of Disposal: 2
  • Number of Drapes: 1
  • Number of Electric Meters: 2
  • Number of Gas Meters: 2
  • Number Leased: 0
  • Number Patio: 2
  • Number Range: 2
  • Number Refrigerator: 2
  • Number Water Meters: 1
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $357,000.00
  • Assessed Improvement Percent: 30.43
  • Assessed Land Value: $816,000.00
  • Assessed Land Percent: 69.57
  • Assessed Total Value: $1,173,000.00

Property History for 317 North Commonwealth Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 317 North Commonwealth Avenue

Taxable ValueLand$816,000Additions$357,000Total$1,173,000
Tax Record2023$14,489 ($1,207 / month)
Home Facts
Total Finished SqFt1,722 SqFtAbove Grade Finished SqFt1,722 SqFtLot Size7,500 SqFtStyleDuplexYear Built1915ZoningLAMR1CountyLOS ANGELESAPN5501-003-011

Schools near 317 North Commonwealth Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Thomas Starr King Middle School
Public6 to 8

John Marshall Senior High School
Public9 to 12

Camino Nuevo High No. 2
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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317 North Commonwealth Avenue is a multi-family home for sale in Los Angeles, CA 90004. This property was listed for sale on February 8, 2024 by The Collective Realty, it's currently listed at $1,250,000. It has been on the market for a total of 83 days and was last sold on February 25, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Dr. Sammy Lee Medical And Health Science Magnet Elementary, Thomas Starr King Middle School and John Marshall Senior High School. 317 North Commonwealth Avenue is a 5-bed, 4-bath, 1,722 sqft multi-family home built in 1915.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The Collective Realty, Will Tiao, DRE #01918965; The Collective Realty, Ken Dennis, DRE #02097826

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.