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1502 Crenshaw Boulevard

Los Angeles (City), CA 90019
  • $1,350,000
  • STATUS: Active
  • ON SITE: 89 Days
  • ID#: BB21183082
UPDATED: 38 min ago
$1,350,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Listing provided courtesy of Elizabeth Maddox of The 2-4 Unit Specialists and Ian Maddox of The 2-4 Unit Specialists

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 $2,900,000s. 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 cant wait to do that for you!), the numbers pencil both ways. Jump on this deal before it goes!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-01T12:28:26.36. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
www.theparsonsrealestateteam.com/homes/121063035
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1502 Crenshaw Boulevard Los Angeles (City), CA 90019

  • Price: $1,350,000
  • Status: Active
  • On Site: 89 Days
  • Updated: 38 min ago
  • ID#: BB21183082
0
Beds
0
Baths
0
½ Baths
0.16
Acres
Neighborhood:
C16 - Mid Los Angeles
County:
Los Angeles
Area:
C16 - Mid Los Angeles
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 $2,900,000s. 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 cant wait to do that for you!), the numbers pencil both ways. Jump on this deal before it goes!
Exterior Features

Lot Features LevelStreet Level Road Frontage Type City Street Road Surface Type Paved View Neighborhood View YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest None Community Features CurbsStreet LightsSidewalks Land Lease YN No Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Submit New Construction YN No Senior Community YN No Special Listing Conditions Standard Water Source Public Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-01T12:28:26.36. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Parsons Team | Keller Williams Realty. Licensed in the State of California, USA.
 
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The Parsons Team | Keller Williams Realty
251 S. Lake Ave #150
Pasadena CA, 91101
Listing provided courtesy of Elizabeth Maddox of The 2-4 Unit Specialists and Ian Maddox of The 2-4 Unit Specialists