Homes for sale - 1721 Crenshaw Blvd, Los Angeles, CA 90019

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,863 sqft

Price per Sqft $590

MLS Listing ID 24-427845

Bedrooms 12

Construction Status Updated/Remodeled, Additions/Alter

Year Built 1923

Lot Size 7,483 Sqft

Acres 0.1718

Property Description

Please remember the following details: A high-cap investment opportunity, a new development project offering a 19% return, is available for sale. The property at 1721 Crenshaw Blvd is a permitted boarding house with 13 rooms. The property generates a monthly gross income of $30,000, with bank statements as proof of income. After deducting management's 20% fee, the property owner receives $30,000 in monthly deposits. The property, previously listed at $2.2M, is now available at a reduced price of $1.69M. The property at 1721 Crenshaw Blvd is well-maintained and offers an ideal opportunity for owner-users, investors, and developers. The location, in the highly desirable Los Angeles submarket of Mid-City, enhances its appeal as a prime asset for the future. Additionally, two other properties are in the vicinity:- 1717 S. Crenshaw Blvd. This boarding house features 7 rooms, generating a monthly gross income of $17,000. - 1st floor: 3 rooms & 2 baths - 2nd floor: 4 rooms & 1 bath This property is not currently on sale but is negotiable.1709 S. Crenshaw Blvd: This property consists of 4 units, and final permits are underway for the conversion. Its expected monthly gross income is $18,000 (Pro Forma). - 1st floor: Three rooms, each with 1 bed/1 bath (Final permit is coming soon) - 2nd floor: One large room with 3 bed/2 baths All these properties benefit from a convenient location between LADT and Santa Monica, with easy access to the 10/110 Freeways for a hassle-free commute across Los Angeles. There is also potential to change the zoning from R3 to R4, with a proposed 45-unit + 20-unit development on the 22,416 SF LOT (R3, TOC 3).

Location

State CA

County Los Angeles

Area Mid Los Angeles

Zoning LAR3

Rooms

Other Rooms None

Dining Room 0

Kitchen Stone Counters

Interior

Interior Features None

Heating Electric

Cooling Air Conditioning, Electric, Wall/Window

Flooring Laminate, Mixed, Stone Tile

Fireplaces Type None

Equipment Dishwasher, Microwave, Garbage Disposal

Laundry None

Exterior

Garage Detached, Driveway

Garage Spaces 10.0

Pool None

Amenities Available None

Waterfront Description None

View Y/N Yes

View City

Roof Type Asbestos Shingle

Handicap Access None

Building

Story 2

Sewer In Street

Water In Street, Meter on Property

Level or Stories Two

Structure Type Combination, Frame, Hard Coat

Construction Status Updated/Remodeled, Additions/Alter

Others

Special Listing Condition Standard