Anchored by a 19,030-sqft C2 / TOC-Tier 2 Opportunity-Zone lot .9 miles from Fairview Heights K-Line and 1.5 mi from SoFi Stadium, Intuit Dome and Kia Forum, 7815 Crenshaw Ave marries reliable cash flow with outsized development upside. Family-owned and meticulously cared for more than 30 years, the gated compound… Read More features a 1930 Spanish eight-plex (all 1bd/1ba) plus one studio and the gated 1993 2,300-sqft 3-bed/3-bath Single Family Residence with 4-car garage in back of parcel generate a scheduled $199,518 NOI-ready rent roll, a 14.3 GRM and a 3.7% going-in cap rate even before tapping easy levers, with about 31% already guaranteed by Section 8. Eight additional secure garages and a broad drive aisle invite ADU conversions. Elevate the eight apartments to HACLA's $3k voucher ceiling and re-tenant the SFR at market, and gross income surges to $28k/mo ($336 k/yr), dropping the forward GRM below 10 and more than doubling NOI before any ADU or cosmetic lift. For builders, Tier 2 bonuses may accommodate roughly 40 units on a podium footprint, translating to sub-$75k land cost per future door and a coveted Opportunity-Zone timetable for potential capital-gains deferral. For yield buyers, today's numbers already pencil at 14.3 GRM and a 3.7 % cap, squarely within the K-Line corridor's trading band with clear runway for rapid rent growth. Backstopped by Crenshaw dirt comps north of $150/sqft, surrounded by billions in public and private investment, and powered by transit that funnels tenants from LAX, Silicon Beach and USC, this asset is the quintessential cash-flowing covered land with three distinct exit ramps, ADU infill, voucher-driven rent lifts, or full mixed-use redevelopment each poised to deliver outsized returns. Read Less
Property listed by Rodeo Realty - Pacific Palisades, James Respondek 310-566-4400
Listing Snapshot
Days Online
26
Last Updated
Property Type
Other
Beds
11
Square Ft.
8,300
Lot Size
0.44 Acres
Year Built
1930
MLS Number
25530205
30 Days Snapshot Of 90043
$1.01M
+6%
(avg) sold price
12
-50%
homes sold
63
-18%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1930, Building area total: 8,300, Levels: Two, Living area: 8300, 2 stories, 2 buildings
Garage
13 spaces
Income
Gross income: $199,518, Net operating income: $105,307
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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