Multifamily
707-709 Crenshaw Ave
707 Crenshaw Blvd, Los Angeles, CA 90005
Listing Price: $2,500,000
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire 707-709 Crenshaw Blvd, a 13-unit investment opportunity located in the highly desirable 90005 zip code of Los Angeles.
707-709 Crenshaw Ave
Investment Highlights
- Extensively Renovated, Charming 1940s Construction: Built in 1940 and enhanced with over $400,000 in recent capital improvements, including new electrical systems, re-piping, structural upgrades, etc.
- Attractive In-Place Returns with Upside: True 5.89% Cap Rate and 10.3 GRM on current income with 28%+ rental upside through unit turnover and continued optimization.
- Excellent Unit Mix: Consisting of (9) Studios and (4) Two-Bedroom Units, each featuring modern finishes and individual water heaters, delivering ease of management and a strong appeal to renters
- Separately Metered for Electricity & Gas: Tenants pay their own utilities for power and gas, while the landlord covers water and trash — reducing operating expenses and improving net cash flow.
- Prime Wilshire Park / Mid-Wilshire Location: Located in the historic Wilshire Park neighborhood, adjacent to Hancock Park, Larchmont Village, Koreatown, and Miracle Mile, and minutes from Hollywood and the Wilshire Center employment corridor.
- Transit-Oriented Growth: Steps from Metro's planned Wilshire/Crenshaw joint development site — slated to deliver new housing, retail, and public amenities as part of the Purple Line Extension. With easy access to Wilshire, Crenshaw, and Olympic, and surrounded by abundant dining and retail, the property is positioned to benefit from both current and future transit-oriented demand.
Exclusively Listed By
Listing Price: $2,500,000
Investment Highlights
- Extensively Renovated, Charming 1940s Construction: Built in 1940 and enhanced with over $400,000 in recent capital improvements, including new electrical systems, re-piping, structural upgrades, etc.
- Attractive In-Place Returns with Upside: True 5.89% Cap Rate and 10.3 GRM on current income with 28%+ rental upside through unit turnover and continued optimization.
- Excellent Unit Mix: Consisting of (9) Studios and (4) Two-Bedroom Units, each featuring modern finishes and individual water heaters, delivering ease of management and a strong appeal to renters
- Separately Metered for Electricity & Gas: Tenants pay their own utilities for power and gas, while the landlord covers water and trash — reducing operating expenses and improving net cash flow.
- Prime Wilshire Park / Mid-Wilshire Location: Located in the historic Wilshire Park neighborhood, adjacent to Hancock Park, Larchmont Village, Koreatown, and Miracle Mile, and minutes from Hollywood and the Wilshire Center employment corridor.
- Transit-Oriented Growth: Steps from Metro's planned Wilshire/Crenshaw joint development site — slated to deliver new housing, retail, and public amenities as part of the Purple Line Extension. With easy access to Wilshire, Crenshaw, and Olympic, and surrounded by abundant dining and retail, the property is positioned to benefit from both current and future transit-oriented demand.
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire 707-709 Crenshaw Blvd, a 13-unit investment opportunity located in the highly desirable 90005 zip code of Los Angeles.
Exclusively Listed By
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