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Listed by Brian Noh, DRE #01438155 • Nohco Real Estate
$ 1,900,000
Est. payment /mo
New
701 Crenshaw Los Angeles, CA 90005
7,499 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26099417
Year Built 1939
Lot Size 7,499 Sqft
Source California Regional MLS
Property Description
ACTUAL 9.4 GRM / 7.0% CAP RATE! Can Deliver 7 Units Vacant! 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 ... Incredible opportunity to capitalize on the upcoming World Cup and Olympics!
Location
State CA
County Los Angeles
Area C18 - Hancock Park-Wilshire
Rooms
Kitchen Garbage Disposal, Oven Range - Gas, Refrigerator
Interior
Heating Forced Air, Wall Furnace
Cooling Window / Wall Unit
Flooring Laminate
Laundry In Garage, In Laundry Room, 30, Dryer
Exterior
Parking Features Carport , Garage, Other, Uncovered Parking
Garage Spaces 8.0
Pool None
Roof Type Composition
Building
Foundation Raised
Water Hot Water, District - Public
Others
Tax ID 5090032007
Special Listing Condition Not Applicable
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