9-Bedroom Residential Income - 2241 Crenshaw Boulevard, Los Angeles, CA

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. Seller Open To Seller Carry Financing. 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.

Property details

Location

2241 Crenshaw Boulevard • Los Angeles, CA 90016

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Listed by

Joshua Yeager · Equity Union