2951 Francis Avenue, Los Angeles
$2,650,000 - 15 Beds, 11 Baths, 5,502 SfMLS® # 24376665
$3,495,000
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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.
MLS® # 24376665
MLS® # 23265294
Based on information from California Regional Multiple Listing Service, Inc. as of May 17th, 2024 at 2:45am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.