Log In/Sign Up
Your email has been sent.
701 Crenshaw Blvd 9 Unit Apartment Building $2,604,026 CAD ($289,336 CAD/Unit) 7.05% Cap Rate Los Angeles, CA 90005
Investment Highlights
- 7 Units Can Be Delivered Vacant at COE.
- Low Cost/SF at $279/sf. Below Replacement Cost!
- Actual 7.0% Cap Rate / 9.4 GRM w/ Upside!
- R3 zoning for future development potential.
Executive Summary
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 electrical in progress.
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.
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 electrical in progress.
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.
Property Facts
| Price | $2,604,026 CAD | Property Subtype | Apartment |
| Price Per Unit | $289,336 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.05% | Lot Size | 0.17 AC |
| Sale Condition | 1031 Exchange | Building Size | 6,789 SF |
| Gross Rent Multiplier | 9.4 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1939 |
| Zoning | LAR3 - LA-R3 | ||
| Price | $2,604,026 CAD |
| Price Per Unit | $289,336 CAD |
| Sale Type | Investment |
| Cap Rate | 7.05% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 9.4 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,789 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1939 |
| Zoning | LAR3 - LA-R3 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Fireplace
- Washer/Dryer Hookup
- Heating
- Crown Molding
- Kitchen
- Range
- Wi-Fi
- Large Bedrooms
Site Amenities
- Laundry Facilities
- Wi-Fi
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | - |
| 2+1 | 4 | - | - |
1 1
Very walkable
80/100
Exceptionally drivable
90/100
Exceptional public transit
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 5090-032-007 | Improvements Assessment | $569,572 CAD |
| Land Assessment | $2,278,302 CAD | Total Assessment | $2,847,874 CAD |
Property Taxes
Parcel Number
5090-032-007
Land Assessment
$2,278,302 CAD
Improvements Assessment
$569,572 CAD
Total Assessment
$2,847,874 CAD
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
701 Crenshaw Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.