707-709 Crenshaw Boulevard is a 13-unit multifamily property located in the desirable Wilshire Park / Mid-Wilshire neighborhood of Los Angeles. Built in 1940, the 6,362 SF Colonial Revival garden-style complex is spread across two buildings and features a strong unit mix of (9) studios and (4) two-bedroom units. The property… Read More has undergone over $400,000 in recent renovations, including new electrical, plumbing, structural upgrades, cabinetry, flooring, HVAC, and full cosmetic updates, ensuring long-term durability and reduced capital risk. Units are separately metered for electricity and gas, while the landlord covers only water and trash, keeping operating costs low. Offering a 5.89% cap rate and 10.3 GRM on current income with 28%+ rental upside, the property delivers strong in-place cash flow and room for growth. Ideally located near Hancock Park, Larchmont Village, Koreatown, and Miracle Mile, and steps from the planned Wilshire/Crenshaw joint development and Purple Line Extension, residents enjoy excellent access to retail, dining, and major job centers. Read Less
Property listed by Tony Azzi, Tony Azzi 310-909-5454
Listing Snapshot
Days Online
30
Last Updated
Property Type
Other
Beds
8
Square Ft.
6,362
Lot Size
0.17 Acres
Year Built
1940
MLS Number
25599733
30 Days Snapshot Of 90005
$2.91M
+274%
(avg) sold price
4
+33%
homes sold
71
-44%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1940, Building area total: 6,362, Levels: Two, Living area: 6362, 2 stories, 1 building, Architectural style: Colonial
Income
Gross income: $245,681, Net operating income: $147,212
Lot
0.1722 acres, 7,499 square feet, Size: 7,499
Parking
Garage
Property
Zoning: LAR3
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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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