730 Crenshaw Boulevard, Los Angeles, CA 90005 (MLS # 24377761)
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.
Property Type(s):
Residential Income
|
Last Updated
|
4/8/2024
|
Year Built
|
1954
|
|
Community
|
Hancock Park-Wilshire
|
County
|
Los Angeles
|
Additional Details
| AIR |
None |
| AREA |
Hancock Park-Wilshire |
| BUYER'S BROKERAGE COMPENSATION |
2.500 % |
| GARAGE |
Detached Carport |
| HEAT |
None |
| LOT |
0.3 acre(s) |
| PARKING |
Detached Carport |
| ZONING |
LAR3 |
Location
Listed with Marcus & Millichap
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 5/15/24 6:42 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
Request More Info
Schedule a Showing
Share
Print
Twitter
Facebook
Email