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$ 2,150,000
Est. payment | /mo
4,720 SqFt
$ 2,150,000
Est. payment | /mo
4,720 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,720 sqft
Price per Sqft $455
MLS Listing ID CL26873363
HOA Y/N No
Year Built 1927
Lot Size 0.325 Acres
Acres 0.3252
Property Sub-Type Other
Property Description
Equity Union Commercial is pleased to present 2241 Crenshaw Blvd, an 8-unit multifamily investment opportunity in the heart of Los Angeles' Mid-City/West Adams submarket. Built in 1927, the property features a well-balanced unit mix of 2 studios, 5 one-bedrooms, and 1 two-bedroom unit, with 7 of the 8 units currently vacant giving a new owner the ability to bring units online at market rents from day one rather than working through existing tenancies. This property qualifies for up to 8 detached, fully non-rent-controlled ADUs under SB 1211, with roughly 6,000 SF of open backyard space (approximately 60' x 100') available for development. The site also carries meaningful development upside: it is zoned LAR3 with a TOC Tier 3 designation, supporting up to a 70% density bonus and the potential to build up to 31 units by-right. Combined, these entitlements offer a rare opportunity to double the unit count on one of the last remaining large-lot opportunities along this corridor. The property sits along the Crenshaw corridor at the border of Mid-City and West Adams. The location offers convenient access to the Metro E (Expo) Line, the I-10 Freeway, and everyday retail and dining along Crenshaw & Washington, including Starbucks, Planet Fitness, CVS, Ross, and Five Guys all within close proximity to Johnnie L. Cochran Jr. Middle School.
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Exterior
View Y/N true
View Other
Building
Lot Description Back Yard, Front Yard
New Construction No
Others
Tax ID 5061021038
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Listed by Joshua Yeager • Equity Union
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