1502 Crenshaw Blvd, Los Angeles, CA 90019

Property Description

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!