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Neema Ahadian
Marcus & Millichap
310-909-5500
730 Crenshaw Blvd is a 16-unit multifamily investment opportunity in the Wilshire Park neighborhood of Los Angeles, located just east of S Wilton Pl between Wilshire Blvd & W 8th St. The subject property was built in 1954 and features an impressive unit mix of 12 one-bedrooms and four two-bedrooms with parking at the rear of the property with no soft-story work required. The property is fully occupied with strong in-place cash flow and additional rental upside of over 29% as units turn; at the asking price, 730 Crenshaw Blvd is being offered at $218,438 per unit a t a 5.47% CAP rate and 11.43 GRM on current income. Renovated units feature spacious layouts with new vinyl plank flooring, stainless steel appliances, custom cabinetry, and updated kitchens & bathrooms; the property has a community laundry room and is separately metered for gas and electric. Dense, infill location with an easy commute for residents throughout Koreatown and to nearby neighborhoods of Fairfax, La Brea, Hollywood, Larchmont Village, Hancock Park, and Downtown Los Angeles. Located a half-mile from the Metro D Rail Line and close to multiple metro bus lines along Crenshaw Blvd and Wilshire Blvd. Opportunity to acquire a well-located asset with strong in-place cash flow and significant rental upside in a premiere submarket with continued low-vacancy and rent growth.
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Total Bedrooms : 18
Total Baths: 16
Full Baths: 0
Half Baths: 0
None
Air Conditioning
None
Has Heating
Year Built: 1954
Building Area Total: 11,208
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.2981
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 12984
Original List Price: 3,495,000
Listing Contract Date: 2024-03-22
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5092001031
Garage Description: Detached Carport
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C18 - Hancock Park-Wilshire
Postal Code Plus 4: 3667
Directions: 730 Crenshaw Blvd is in the Wilshire Park neighborhood of Los Angeles, located just east of S Wilton Pl between Wilshire Blvd & W 8th St.
Zoning: LAR3
Source Property Type: Residential Income
Area: C18 - Hancock Park-Wilshire
Property Age: 70
Year Built Source: Vendor Enhanced
Total Square Feet Living: 11208
Levels or Stories: Multi/Split
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
822 S Windsor Boulevard.., Los Angeles, CA,90005 | $799,000 | 2 | 1 | 1,290 | 8980 Sqft |
854 S Normandie Avenue, Los Angeles, CA,90005 | $4,900,000 | -- | -- | -- | 13240 Sqft |
836 S Catalina Street, Los Angeles, CA,90005 | $2,250,000 | 8 | -- | 5,322 | 7249 Sqft |
821 S Wilton Place, Los Angeles, CA,90005 | $3,985,000 | 1 | -- | 10,786 | 8999 Sqft |
837 S Berendo Street #1, Los Angeles, CA,90005 | $2,050,000 | 8 | -- | 5,732 | 7499 Sqft |
826 S Gramercy Place, Los Angeles, CA,90005 | $2,400,000 | -- | -- | 6,293 | 7499 Sqft |
2885 Francis Avenue, Los Angeles, CA,90005 | $1,995,000 | 12 | -- | 5,846 | 8057 Sqft |
702 Crenshaw Boulevard, Los Angeles, CA,90005 | $1,950,000 | 10 | 5 | 2,691 | 10491 Sqft |
4027 Leeward Avenue, Los Angeles, CA,90005 | $1,590,000 | 4 | 2 | 2,168 | 7236 Sqft |
670 Crenshaw Boulevard, Los Angeles, CA,90005 | $1,999,000 | 8 | 5 | 4,903 | 6196 Sqft |
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ByOwner last updated this listing 05/19/2024 @ 07:01
MLS: 24377761
LISTED BY: Neema Ahadian, Marcus & Millichap
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.