Multifamily in Hancock Park near Koreatown
Los Angeles, Ca
701 Crenshaw Boulevard, Los Angeles, CA 90010
701 Crenshaw is a multifamily property located in the highly affluent and desirable Hancock Park neighborhood in Los Angeles. This classic apartment offers a tremendous opportunity for a local and experienced investor to capitalize on the growing rents in the area. Most of the units have been lightly remodeled and will be delivered vacant at close of escrow, allowing a new owner to achieve market rents immediately.
The entire property is a 2-story structure built in 1939 with a total size of 6,789 SF, sitting on 7,499 SF lot zoned LA-R3 and directly next to the new Crenshaw/Wilshire Metro Purple Line Extension development. In addition, there are total 6 garage parking spaces in the rear with a legal structure above that can be converted to an ADU as an additional unit.
* Property is subject to City of Los Angeles Rent Control.
Features and Highlights
- 50% Units Delivered Vacant at COE.
- Located in Windsor Village Historic Overlay Zone.
- R3 zoning for future development potential.
- Directly adjacent to Metro Purple Line expansion.
- Prime Location in Hancock Park near Koreatown, Miracle Mile, Mid-Wilshire, Beverly Hills, Grove, & Downtown LA.
- Building Size:6,789 SF
- Lot Size:7,499 SF
- Year Built:1939