701 Crenshaw, Los Angeles, CA 90005
- $1,850,000
- List Price
- $1,850,000
- Price Change
- ▼ $50,000 1784148528
- Status
- ACTIVE
- MLS#
- OC26099417
- Year Built
- 1939
- Lot Size
- 7,499
- Acres
- 0.17
- Lot Location
- 6-10 Units/Acre, Front Yard, Lawn, Landscaped
- Days on Market
- 53
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
Property Description
$50K PRICE REDUCTION. ACTUAL 9.1 GRM / 7.5% 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 Olympics!
Additional Information
- Appliances
- Disposal, Gas Range, Refrigerator, Water Heater, Dryer
- Pool Description
- None
- Fireplace Description
- Decorative, Living Room
- Heat
- Forced Air, Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- Exterior Construction
- Stucco
- Roof
- Composition
- Garage Spaces Total
- 6
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Crown Molding, Bedroom on Main Level
- Attached Structure
- Attached
- Number Of Units Total
- 9
- Gross Scheduled Income
- $203,907
- Operating Expense
- 61418
Listing courtesy of Listing Agent: Brian Noh (brian@nohco.com) from Listing Office: Nohco Real Estate.
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