1721 Crenshaw Boulevard

Los Angeles, CA 90019

$1,690,000

List Price

12

bed Beds

8

shower Baths

2,863 sqft

straighten / sqft

1923

calendar_month Built

Property Description

Please remember the following details: A high-cap investment opportunity, a new development project offering a 19% return, is available for sale. The property at 1721 Crenshaw Blvd is a permitted boarding house with 13 rooms. The property generates a monthly gross income of $30,000, with bank statements as proof of income. After deducting management's 20% fee, the property owner receives $30,000 in monthly deposits. The property, previously listed at $2.2M, is now available at a reduced price of $1.69M. The property at 1721 Crenshaw Blvd is well-maintained and offers an ideal opportunity for owner-users, investors, and developers. The location, in the highly desirable Los Angeles submarket of Mid-City, enhances its appeal as a prime asset for the future. Additionally, two other properties are in the vicinity:- 1717 S. Crenshaw Blvd. This boarding house features 7 rooms, generating a monthly gross income of $17,000. - 1st floor: 3 rooms & 2 baths - 2nd floor: 4 rooms & 1 bath This property is not currently on sale but is negotiable.1709 S. Crenshaw Blvd: This property consists of 4 units, and final permits are underway for the conversion. Its expected monthly gross income is $18,000 (Pro Forma). - 1st floor: Three rooms, each with 1 bed/1 bath (Final permit is coming soon) - 2nd floor: One large room with 3 bed/2 baths All these properties benefit from a convenient location between LADT and Santa Monica, with easy access to the 10/110 Freeways for a hassle-free commute across Los Angeles. There is also potential to change the zoning from R3 to R4, with a proposed 45-unit + 20-unit development on the 22,416 SF LOT (R3, TOC 3).

Listing Information

List Price $1,690,000
Status Active
MLS 24427845
Type Residential Income
Year Built 1923
Lot Size 7,483
Structure Size 2,863
DOM 15
Courtesy Of Cozmo Realty, Inc.
Listing Agent John Kim DRE#01104945

Interior Features

Laundry Information
Location(s) None
Total Bedroom
Bedrooms 12
Total Bathroom
Bathrooms 8
Flooring Information
Material Laminate
Fireplace Information
Features None
Cooling Type
Cooling Type Electric, Wall/Window Unit(s)

Exterior Information

Other Structures
Features Deck
View Yes

Maps

Listing information courtesy of: John Kim, Cozmo Realty, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of Aug 28th, 2024 at 1:36 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.