Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

9

Building size

6,789 sqft

Lot size

7,501 sqft

Year built

1939

Stories

2

Garage spaces

0

Heating

Wall Furnace

Cooling

Central Air,Wall/Window Unit(s)

Pool

None

View

None

Status

Active

Days on market

0

MLS #

246659278

About this property

701 Crenshaw is located in the highly affluent and desirable Windsor Village/Hancock Park neighborhood in Los Angeles. This oversized apartment offers a tremendous investment opportunity for a first time or experienced investor in the area. This 2-story building was built in 1939 with a total size of 6,789 SF, and consists of large units that have been split into (4) 2/1 units and (4) studios plus a separate (1) studio owner’s unit above the garage. 7 out of the 9 current units have been lightly remodeled and can be delivered vacant at close of escrow, or kept as midterm rentals. There are 6 rear garage + 2 onsite parking spaces, and there is an opportunity to convert the garages into an ADU as an additional rental unit. Recent upgrades include updated 400amp electrical meters & panels. On a big 7,499 SF lot zoned LA-R3, the property is directly next to the Metro lot with future development plans underway. Prime Location in Hancock Park near Koreatown, Miracle Mile, Mid-Wilshire, Beverly Hills, Grove, & Downtown LA. ACTUAL 9.4 GRM / 7.5% CAP RATE!

Location

701 Crenshaw

Los Angeles, Los Angeles, CA, 90005