7324 Crenshaw Blvd - Apartments FOR SALE


Los Angeles, CA 90043- Park Mesa Heights
$1,895,000 USD
310-880-1151
7324 Crenshaw Blvd, Los Angeles, CA for Sale
$1,895,000 USD
Apartments - FOR SALE
1/2
null | 7.01% Cap Rate

7324 Crenshaw Blvd
Los Angeles, CA 90043
Park Mesa Heights


HIGHLIGHTS

  • Well maintained two story Classic 1960's Garden Style Apartment Complex. 10 units plus 1 additional non-permitted studio apartment.
  • Most of the rents are below market and can be increased annually under the Los Angeles Rent Stabilization Ordinance. Raise to market upon turnover.
  • Corner lot with parking on site for 10 vehicles and laundry room.

OVERVIEW

The subject property is a two-story walkup apartment complex consisting of a 10 unit building with an additional non-permitted unit on one parcel. The building was constructed in 1961 and has 7 (1+1), 3 (2+1) units and a non permitted studio apartment. There is a laundry room onsite and parking for 10 vehicles. The property and improvements have been well maintained by long term ownership, and there is significant upside in rental income as units turnover. The adjacent property at 3321-3325 West 74th Street is a 20 unit apartment building and is being offered for sale by the same ownership. The property is well located just 7 minutes east of the thriving entertainment district of Inglewood which features SoFi Stadium, The Kia Forum, Intuit Dome, YouTube Theatre, Hollywood Park Casino and a multitude of dining options. Even closer to the property are Centinela Hospital, Target, Costco, Home Depot. There are major employers just 30 minutes away in Downtown LA. The area is densely populated which results in a strong rental market.

FOR SALE DETAILS

PRICE

$1,895,000 USD

PRICE/SF

$231 USD /SF

# OF UNITS

11

PRICE/UNIT

$172,273

CAP RATE

7.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,151 SF

ZONING

C2-R4

APN/PARCEL ID

4012-015-022

ASK ABOUT THIS PROPERTY

Stephen LampeRE/MAX Commercial & Investment RealtyMore Info
310-880-1151

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Stephen LampeRE/MAX Commercial & Investment RealtyMore Info
310-880-1151

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