1721 Crenshaw Boulevard, Los Angeles, CA 90019
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Listed Price :
$1,690,000
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Beds :
12
-
Baths :
8
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Property Size :
2,863 sqft
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Year Built :
1923
Property Description
Please remember the following details: A high-cap investment opportunity, a new development project offering a 19% return, is available for sale. The property at 1721 Crenshaw Blvd is a permitted boarding house with 13 rooms. The property generates a monthly gross income of $30,000, with bank statements as proof of income. After deducting management's 20% fee, the property owner receives $30,000 in monthly deposits. The property, previously listed at $2.2M, is now available at a reduced price of $1.69M. The property at 1721 Crenshaw Blvd is well-maintained and offers an ideal opportunity for owner-users, investors, and developers. The location, in the highly desirable Los Angeles submarket of Mid-City, enhances its appeal as a prime asset for the future. Additionally, two other properties are in the vicinity:- 1717 S. Crenshaw Blvd. This boarding house features 7 rooms, generating a monthly gross income of $17,000. - 1st floor: 3 rooms & 2 baths - 2nd floor: 4 rooms & 1 bath This property is not currently on sale but is negotiable.1709 S. Crenshaw Blvd: This property consists of 4 units, and final permits are underway for the conversion. Its expected monthly gross income is $18,000 (Pro Forma). - 1st floor: Three rooms, each with 1 bed/1 bath (Final permit is coming soon) - 2nd floor: One large room with 3 bed/2 baths All these properties benefit from a convenient location between LADT and Santa Monica, with easy access to the 10/110 Freeways for a hassle-free commute across Los Angeles. There is also potential to change the zoning from R3 to R4, with a proposed 45-unit + 20-unit development on the 22,416 SF LOT (R3, TOC 3).
Interior Features
Laundry Information |
Location(s) |
None |
Bedroom Information |
Bedrooms |
12 |
Bathroom Information |
Bathrooms |
8 |
Flooring Information |
Material |
Laminate |
Interior Information |
Cooling Type |
Electric, Wall/Window Unit(s) |
Listing Information
Address |
1721 Crenshaw Boulevard |
City |
Los Angeles |
State |
CA |
Zip |
90019 |
County |
Los Angeles |
Listing Agent |
John Kim DRE #01104945 |
Courtesy Of |
Cozmo Realty, Inc. |
List Price |
$1,690,000 |
Status |
Active |
Type |
Residential Income |
Structure Size |
2,863 |
Lot Size |
7,483 |
Year Built |
1923 |
Listing information courtesy of: John Kim, Cozmo Realty, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 9th, 2024 at 3:39 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.