2243 Crenshaw Blvd - Multi-Family FOR SALE


Los Angeles, CA 90016- Mid-City
$1,900,000 USD
818-741-8010
2243 Crenshaw Blvd, Los Angeles, CA for Sale
$1,900,000 USD
Multi-Family - FOR SALE
1/7
null | 6.95% Cap Rate

2243 Crenshaw Blvd
Los Angeles, CA 90016
Mid-City


HIGHLIGHTS

  • Prime Mid-City / West Adams Location Along the Crenshaw Corridor
  • Seller Open to Seller Carry Financing
  • 7 of 8 Units Are Currently Vacant and Unrenovated
  • Attractive Unit Mix of 2 Studios, 5 One-Bedrooms, and 1 Two-Bedroom Unit
  • Roughly 6,000 SF of Open Land in the Gated Private Backyard
  • Double the Unit Count by Adding up to 8 Detached, Fully Non-Rent-Controlled ADU Units in the Rear

OVERVIEW

Equity Union Commercial is pleased to present 2241 Crenshaw Blvd, an 8-unit multifamily investment opportunity in the heart of Los Angeles' Mid-City/West Adams submarket. Built in 1927, the property features a well-balanced unit mix of 2 studios, 5 one-bedrooms, and 1 two-bedroom unit, with 7 of the 8 units currently vacant — giving a new owner the ability to bring units online at market rents from day one rather than working through existing tenancies. Seller is Also Open to Seller Carry Financing. This property qualifies for up to 8 detached, fully non-rent-controlled ADUs under SB 1211, with roughly 6,000 SF of open backyard space (approximately 60' x 100') available for development. The site also carries meaningful development upside: it is zoned LAR3 with a TOC Tier 3 designation, supporting up to a 70% density bonus and the potential to build up to 31 units by-right. Combined, these entitlements offer a rare opportunity to double the unit count on one of the last remaining large-lot opportunities along this corridor. The property sits along the Crenshaw corridor at the border of Mid-City and West Adams. The location offers convenient access to the Metro E (Expo) Line, the I-10 Freeway, and everyday retail and dining along Crenshaw & Washington, including Starbucks, Planet Fitness, CVS, Ross, and Five Guys — all within close proximity to Johnnie L. Cochran Jr. Middle School.

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$403 USD /SF

# OF UNITS

8

PRICE/UNIT

$237,500

CAP RATE

6.95%

% LEASED

12%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1927

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

R3

APN/PARCEL ID

5061-021-038

ASK ABOUT THIS PROPERTY

Josh YeagerEquity Union CommercialMore Info
818-741-8010

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Josh YeagerEquity Union CommercialMore Info
818-741-8010

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.