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$2,500,000
Est. payment /mo
8 Beds
13 Baths
6,362 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,362 sqft
Price per Sqft $392
MLS Listing ID 25599733
Bedrooms 8
HOA Y/N No
Year Built 1940
Lot Size 7,501 Sqft
Property Description
707-709 Crenshaw Boulevard is a 13-unit multifamily property located in the desirable Wilshire Park / Mid-Wilshire neighborhood of Los Angeles. Built in 1940, the 6,362 SF Colonial Revival garden-style complex is spread across two buildings and features a strong unit mix of (9) studios and (4) two-bedroom units. The property has undergone over $400,000 in recent renovations, including new electrical, plumbing, structural upgrades, cabinetry, flooring, HVAC, and full cosmetic updates, ensuring long-term durability and reduced capital risk. Units are separately metered for electricity and gas, while the landlord covers only water and trash, keeping operating costs low. Offering a 5.89% cap rate and 10.3 GRM on current income with 28%+ rental upside, the property delivers strong in-place cash flow and room for growth. Ideally located near Hancock Park, Larchmont Village, Koreatown, and Miracle Mile, and steps from the planned Wilshire/Crenshaw joint development and Purple Line Extension, residents enjoy excellent access to retail, dining, and major job centers.
Location
State CA
County Los Angeles
Area C18 - Hancock Park-Wilshire
Zoning LAR3
Interior
Fireplace No
Exterior
Parking Features Garage
Building
Story 2
Entry Level Two
Architectural Style Colonial
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5090032008
Special Listing Condition Standard
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Listed by Tony Azzi Tony Azzi
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