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3515 W Commonwealth

1 Unit Apartment Building $998,000 ($998,000/Unit) Fullerton, CA 92833

Investment Highlights

  • Located on a busy thoroughfare (Commonwealth Ave.).
  • Potential for various business ventures - Ideal for the owner user property.
  • Traffic congestion and closeness to the 5 and 91 freeways
  • A commercial lot measuring 9,115 square feet, designated as G-C zone.
  • Situated near Fullerton Municipal Airport
  • Sufficient backyard area is suitable for the potential development of an accessory dwelling unit (ADU).

Executive Summary

This commercial-zoned property on Commonwealth Avenue in Fullerton presents a valuable opportunity. Situated near Fullerton Municipal Airport and designated as C-G zone*, the property encompasses a 1,289 sq. ft. single-family residence on a 9,115 sq. ft. commercial lot. It offers potential for various business ventures, including general offices, acupuncture, educational or religious institutions, retail spaces, and art studios, although the buyer must submit a development plan prepared by their architect. The location benefits from heavy traffic and proximity to the 5 and 91 freeways, ensuring convenient access. The existing single family house, which has been recently renovated, comprises three bedrooms and one and a half bathrooms, and there is ample backyard space available for potential ADU development. This presents an excellent chance to establish a foothold in a dynamic community.

Property Facts

Price $998,000
Price Per Unit $998,000
Sale Type Investment
Sale Conditions 1031 Exchange
No. Units 1
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
  • Office Office Residential
  • Multifamily Dormitory
Apartment Style Single Family Home
Building Class C
Lot Size 0.20 AC
Building Size 1,949 SF
No. Stories 1
Year Built/Renovated 1949/2023
Parking Ratio 3.08/1,000 SF
Opportunity Zone Yes

Unit Amenities

  • Air Conditioning
  • Kitchen
  • Refrigerator
  • Tub/Shower

Site Amenities

  • Walk-Up

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
3+1.5 1 - 1,289

zoning

Zoning Code C2 (C1.5 Uses; Retail w/ Limited Manufacturing, Service Stations and Garages, Retail Contr. Business, Churches, Schools, Auto Sales, R4 Uses)
C2 (C1.5 Uses; Retail w/ Limited Manufacturing, Service Stations and Garages, Retail Contr. Business, Churches, Schools, Auto Sales, R4 Uses)
  • Listing ID: 33426004

  • Date on Market: 10/5/2024

  • Last Updated:

  • Address: 3515 W Commonwealth, Fullerton, CA 92833

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