Developers, here is your next opportunity to build a fourplex! 1502 Crenshaw Blvd is an SFR that will be delivered with fully approved, Ready to Issue Plans for an impressive fourplex in the heart of Mid-City. From the unbeatable Mid-City location (hottest rental market in all of Los Angeles right now!) to the strategically designed plans containing spacious 5 bedroom units and 9 parking spaces, we predict this amazing project will sell for between $3,000,000 and $3,200,000 upon completion. At this time we are closing escrows and generating offers on Mid-City new construction fourplexes (with all 3 bedroom units) in the high $2,900,000’s. If you factor in the rental income from much larger 5 bedroom units, we expect offers north of $3,000,000 on this property.Our rental team is currently achieving rents of $4,200-$5,000 on dozens of 4 bedroom units in Mid-City at this time, as well as rents of $5,400-$5,795 on 5 bedroom units in Mid-City. To be exceedingly conservative, we are factoring in $4,500 per unit on this property, but expect higher! Ask us for rental comps!The existing property is a 2,542 square foot, vacant 4Br+2Ba SFR on a 7,102 SF LAR3-1 T.O.C. Tier 3 lot. No need to worry about messy relocations or rent control on the future project!Whether you plan to build and hold or build and sell (we can’t wait to do that for you!), the numbers pencil both ways. Jump on this deal before it goes!
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DAYS ON MARKET
|
134
|
LAST UPDATED
|
1/17/2022
|
|
YEAR BUILT
|
1923
|
COMMUNITY
|
Mid Los Angeles
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Sold
|
|
PROPERTY TYPE(S)
|
Single Family
|
|
|
| School District |
Los Angeles Unified |
| AIR |
None |
| AREA |
Mid Los Angeles |
| HEAT |
Central |
| HOA DUES |
0 |
| LOT |
7102 sq ft |
| LOT DESCRIPTION |
Level, Street Level |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
1 |
| VIEW |
Yes |
| VIEW DESCRIPTION |
Neighborhood |
| WATER |
Public |
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Listed with The 2-4 Unit Specialists
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/18/24 10:19 PM PDT 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
This IDX solution is (c) Diverse Solutions 2024.
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