Active
730 Crenshaw Blvd
Los Angeles CA, 90005
$3,495,000
$311.83 per sqft
Active
18 Beds
11,208 sqft
Residential
Built in 1954
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.
24-377761
MLSⓇ ID
March 22, 2024
Listed
April 12, 2024
Updated
Map
730 Crenshaw Blvd
Los Angeles CA, 90005
Interior Features
Total Stories
0
Bedrooms
18 Beds
Appliances
None
Fireplace
No
Cooling
No
Cooling Description
None
Heating
No
Heating Description
None
Exterior/Building Features
Lot Size
0.3 Acres
Other Property Details
Area Name
Hancock Park-Wilshire
Days on Market
19
Garage
No
Parking
Carport Detached
Parking Total
0
View
No
County
Los Angeles
Pool
No
Zoning
LAR3
Listed by Neema Ahadian with Marcus & Millichap
Listing Contact: 310-909-5444
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Susan Smith shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 4/12/2024