6422 Crenshaw Blvd - Day Care Center FOR SALE


Los Angeles, CA 90043- Park Mesa Heights
$2,800,000 USD
818-292-3175
6422 Crenshaw Blvd, Los Angeles, CA for Sale
$2,800,000 USD
Day Care Center - FOR SALE
1/10
null | Request Cap Rate

6422 Crenshaw Blvd
Los Angeles, CA 90043
Park Mesa Heights


OVERVIEW

The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 6422 Crenshaw Boulevard, a 5,240 square foot school property situated on 0.33 acres of land (14,381 SF) located less than 0.2 miles from the Metro K line Leimert Park Station in the Los Angeles submarket of Leimert Park, CA. The 6422 Crenshaw Boulevard is zoned C2-2D-SP, designated a Tier 3 in the Transit Oriented Communities (TOC) incentive program, and is situated in the Crenshaw Corridor and South Los Angeles Alcohol Sales specific plans. By right, thirty-six (36) units can be developed on the site and up to sixty-two (62) using the 70% density bonus through the TOC. New developments are allowed up to a 2.00 FAR or 3.00 FAR for mixed-use projects. TOC projects are permitted an additional 45% FAR increase and an additional 22 feet above the 60 foot by-right height limit. Because of the site’s proximity to transit, new projects are eligible for AB 2097, eliminating any parking requirements. Ambitious developers can achieve greater bonuses using the California State Density Bonus Law which allows density bonuses up to 100%. The subject property is also an Executive Directive 1 (ED1) eligible site which permits unlimited density, height restriction up to 93 feet, and up to four (4) on or off menu development incentives. 6422 Crenshaw Boulevard is currently operating as a school and can be vacated as early as July 1st, 2025, making it an ideal owner-user or value-add opportunity. The property sits beside a corner retail strip center and has access along Crenshaw Blvd as well as Hyde Park Blvd. The area to the rear of the property as well as the parcel fronting Hyde Park Blvd is used as large yards that serve as playgrounds for school use. Because of the property’s underlying C2-2D-SP zoning, a variety of school uses as well as a myriad of other commercial uses are allowed by right. The subject property benefits from approximately 60 feet of frontage along Crenshaw Boulevard. The property is situated centrally along Crenshaw Boulevard, benefiting from proximity to the Hyde Park and Fairview Heights Metro K Line stations, both less than 0.5 miles away from the subject property or a 10-minute walk. While already highly dense, the area has been the subject of rapid gentrification and revitalization through the implementation of the Crenshaw Corridor Specific Plan.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$534 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Day Care Center

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1955

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

C2-2D-SP

APN/PARCEL ID

4006-010-027

ASK ABOUT THIS PROPERTY

Brandon MichaelsThe Brandon Michaels GroupMore Info
818-292-3175

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Brandon MichaelsThe Brandon Michaels GroupMore Info
818-292-3175

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