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
Courtesy of Tony Azzi 310-909-5454
Listing Snapshot
Days Online
17
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
$700k
-18%
(avg) sold price
1
-75%
home sold
84
-29%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
6,362 sq ft, Built in 1940, Levels: Two, Colonial
Disclosures
None
Garage
Garage
Lot
LotAcreage: 0.1722, LotSizeArea: 7,499, LotSizeDimensions: 50x150, City
Parking
TotalParking: 0
Property
NumberOfUnits: 13, Zoning: LAR3
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