730 Crenshaw Boulevard

Los Angeles, CA 90005

$3,495,000
Price
18
Beds
16
Baths
11,208 Sq. Ft.
$312 / Sq. Ft.
11,208
Sq. Ft.
$312
per Sq. Ft.

Description

730 Crenshaw Blvd is a 16-unit multifamily investment opportunity in the Wilshire Park neighborhood of Los Angeles, located just east of S Wilton Pl between Wilshire Blvd & W 8th St. The subject property was built in 1954 and features an impressive unit mix of 12 one-bedrooms and four two-bedrooms with parking at the rear of the property with no soft-story work required. The property is fully occupied with strong in-place cash flow and additional rental upside of over 29% as units turn; at the asking...730 Crenshaw Blvd is a 16-unit multifamily investment opportunity in the Wilshire Park neighborhood of Los Angeles, located just east of S Wilton Pl between Wilshire Blvd & W 8th St. The subject property was built in 1954 and features an impressive unit mix of 12 one-bedrooms and four two-bedrooms with parking at the rear of the property with no soft-story work required. The property is fully occupied with strong in-place cash flow and additional rental upside of over 29% as units turn; at the asking price, 730 Crenshaw Blvd is being offered at $218,438 per unit a t a 5.47% CAP rate and 11.43 GRM on current income. Renovated units feature spacious layouts with new vinyl plank flooring, stainless steel appliances, custom cabinetry, and updated kitchens & bathrooms; the property has a community laundry room and is separately metered for gas and electric. Dense, infill location with an easy commute for residents throughout Koreatown and to nearby neighborhoods of Fairfax, La Brea, Hollywood, Larchmont Village, Hancock Park, and Downtown Los Angeles. Located a half-mile from the Metro D Rail Line and close to multiple metro bus lines along Crenshaw Blvd and Wilshire Blvd. Opportunity to acquire a well-located asset with strong in-place cash flow and significant rental upside in a premiere submarket with continued low-vacancy and rent growth.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 730 Crenshaw Boulevard

Zoning
LAR3
Parcel Number
5092001031
Total Units
16.0
Living Area
11208
Source Living Area
Vendor Enhanced
Area
Hancock Park-Wilshire
Vacancy Rate
0
Lot Size Area
12984

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750
Add your commute
LISTING UPDATED: 04/10/2024 09:59 AM

Property Details for 730 Crenshaw Boulevard

StatusActive
MLS #24-377761
Days on Market43
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1954
Lot Size0.30 AC / 12,984 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750
Add your commute

Building Information for 730 Crenshaw Boulevard

Stories-Residences-Year Built1954Building Size-Lot Size0.30 AC / 12,984 SF

Payment Calculator

$22,191 per month

30 year fixed, 7.25% Interest

Principal and Interest

$19,074

Property Taxes

$3,117

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 730 Crenshaw Boulevard

Community / Development
Community / Development
  • Number Of Units: 16
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: 1+1, 2+1
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $296,610
  • Net Operating Income: $194,083.00
  • Gross Income: $305,784
  • Cap Rate: 5.47%
  • Gross Rent Multiplier: $11.43
  • Total Annual Expense: 105527
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2981
  • Lot Size Square Feet: 12984
Parking Details
Parking Details
  • Parking Garage: Carport Detached
  • Total Parking: 0
  • Parking Features: Detached Carport
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: None
  • Cooling Type: None
  • Heating: None
  • Heating Type: None
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-08-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,395.00
  • Unit Actual Rent: $16,734.00
  • Unit Projected Rent: $22,200.00
  • Like Units: 12
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,150.00
  • Unit Actual Rent: $8,598.00
  • Unit Projected Rent: $10,600.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $866,380.00
  • Assessed Improvement Percent: 29.41
  • Assessed Land Value: $2,079,324.00
  • Assessed Land Percent: 70.59
  • Assessed Total Value: $2,945,704.00

Property History for 730 Crenshaw Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 730 Crenshaw Boulevard

Taxable ValueLand$2,079,324Additions$868,880Total$2,948,204
Tax Record2023$37,398 ($3,117 / month)
Home Facts
Total Finished SqFt11,208 SqFtAbove Grade Finished SqFt11,208 SqFtLot Size12,981 SqFtStyleMulti-Family Res (5+ Units)Year Built1954ZoningLAR3CountyLOS ANGELESAPN5092-001-031

Schools near 730 Crenshaw Boulevard

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Wilshire Park Elementary School
PublicK to 5

Magnolia Science Academy 6 School
Charter6 to 8

Los Angeles Senior High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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730 Crenshaw Boulevard is a multi-family home for sale in Los Angeles, CA 90005. This property was listed for sale on March 22, 2024 by Marcus & Millichap, it's currently listed at $3,495,000. It has been on the market for a total of 43 days and was last sold on October 30, 2014. This listing's school district is Los Angeles Unified School District. Nearby schools include Wilshire Park Elementary School, Magnolia Science Academy 6 School and Los Angeles Senior High School. 730 Crenshaw Boulevard is a 18-bed, 16-bath, 11,208 sqft multi-family home built in 1954.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.