Multifamily
1916 Crenshaw Blvd
1916 Crenshaw Blvd, Los Angeles, CA 90016
Listing Price: $2,500,000
Cap Rate
5.78%
Number of Units
20
GRM
9.09
Price/Unit
$125,000
Price/Gross SF
$225.31
Gross SF
11,096
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire 1916 CRENSHAW BLVD, a 20-unit investment opportunity located in the vibrant 90016 zip code of Los Angeles.
1916 Crenshaw Blvd
Investment Highlights
- Efficient Unit Mix: Comprised of (16) Studios and (4) 1-Bed / 1-Bath units, the property is well-positioned to serve the area's strong workforce-housing demand.
- Separately Metered for Electric: Each unit is separately metered for electricity, minimizing landlord utility expenses and improving operational efficiency.
- On-Site Laundry Amenity: The property features on-site laundry facilities for tenants (leased), creating additional tenant convenience and providing additional income.
- Charming 1920s Spanish-Style Architecture: Originally constructed in 1928, 1916 Crenshaw Blvd features attractive Spanish-inspired architecture with decorative façade elements, arched detailing, and a distinctive street presence that contributes to its long-term tenant appeal
- Prime Mid-City Los Angeles Location Along the Crenshaw Corridor: Positioned along one of Los Angeles' primary north-south thoroughfares, the property benefits from proximity to Metro rail, major transportation routes, and some of the city's largest employment hubs. Residents enjoy convenient access to West Adams, Jefferson Park, DTLA, USC, Culver City, and Koreatown, making the asset well-positioned to capitalize on sustained rental demand within a densely populated infill market.
- Seller Financing Available: The property is owned free and clear of existing debt, allowing ownership to consider seller financing for qualified purchasers. This flexibility may provide buyers with a unique opportunity to secure favorable financing terms while reducing acquisition costs and interest rate exposure.
- Compelling Value-Add Opportunity: The asset offers investors a rare opportunity to capitalize on nearly 40% rental upside through strategic unit renovations, operational efficiencies, and professional management, providing a clear path to increased cash flow and long-term value creation in a supply-constrained Los Angeles rental market.
- First Time on the Market in Nearly 25 Years: 1916 Crenshaw Blvd presents a rare acquisition opportunity, having been under the same ownership since 2003. Long-term ownership has resulted in below-market rents and provides investors with a unique opportunity to reposition the asset and unlock significant value.
Exclusively Listed By
Listing Price: $2,500,000
Cap Rate
5.78%
Number of Units
20
GRM
9.09
Price/Unit
$125,000
Price/Gross SF
$225.31
Gross SF
11,096
Investment Highlights
- Efficient Unit Mix: Comprised of (16) Studios and (4) 1-Bed / 1-Bath units, the property is well-positioned to serve the area's strong workforce-housing demand.
- Separately Metered for Electric: Each unit is separately metered for electricity, minimizing landlord utility expenses and improving operational efficiency.
- On-Site Laundry Amenity: The property features on-site laundry facilities for tenants (leased), creating additional tenant convenience and providing additional income.
- Charming 1920s Spanish-Style Architecture: Originally constructed in 1928, 1916 Crenshaw Blvd features attractive Spanish-inspired architecture with decorative façade elements, arched detailing, and a distinctive street presence that contributes to its long-term tenant appeal
- Prime Mid-City Los Angeles Location Along the Crenshaw Corridor: Positioned along one of Los Angeles' primary north-south thoroughfares, the property benefits from proximity to Metro rail, major transportation routes, and some of the city's largest employment hubs. Residents enjoy convenient access to West Adams, Jefferson Park, DTLA, USC, Culver City, and Koreatown, making the asset well-positioned to capitalize on sustained rental demand within a densely populated infill market.
- Seller Financing Available: The property is owned free and clear of existing debt, allowing ownership to consider seller financing for qualified purchasers. This flexibility may provide buyers with a unique opportunity to secure favorable financing terms while reducing acquisition costs and interest rate exposure.
- Compelling Value-Add Opportunity: The asset offers investors a rare opportunity to capitalize on nearly 40% rental upside through strategic unit renovations, operational efficiencies, and professional management, providing a clear path to increased cash flow and long-term value creation in a supply-constrained Los Angeles rental market.
- First Time on the Market in Nearly 25 Years: 1916 Crenshaw Blvd presents a rare acquisition opportunity, having been under the same ownership since 2003. Long-term ownership has resulted in below-market rents and provides investors with a unique opportunity to reposition the asset and unlock significant value.
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire 1916 CRENSHAW BLVD, a 20-unit investment opportunity located in the vibrant 90016 zip code of Los Angeles.
Exclusively Listed By
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