Los Angeles, CA 90019 1338 Crenshaw Boulevard
$4,500,000
Pending
6 more
Presented By: Brett Lyon with Lyon Stahl Investment Real Estate, Inc.; 3107801899
- MLS# SB25011258
- 02/10/2025
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
Beds • 40
Baths • 1
SQFT • 15,176
Home Details
Presenting an exceptional investment opportunity in the heart of Mid City Los Angeles: two side-by-side 20-unit properties, totaling 40 studio units. Offering 15,176 SF of rentable space on a sprawling 14,281 SF lot, this property delivers a strong 5.06% current CAP rate with substantial upside potential, including a 8.63% market CAP and a 6.72 market GRM. The 34% rental upside makes this property a standout for value-add investors. Ideally situated right off Pico Blvd, it provides convenient access to the West Side and Downtown LA, ensuring high tenant demand in this central location. Don't miss this rare opportunity to acquire a prime asset in one of LA’s most central neighborhoods.
Presented By: Brett Lyon with Lyon Stahl Investment Real Estate, Inc.; 3107801899
Interior Features for 1338 Crenshaw Boulevard
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesNone
Total Stories2
Other Rooms
Entry Level1
General for 1338 Crenshaw Boulevard
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.06
Carport Y/NNo
CityLos Angeles
Community FeaturesBiking
CountyLos Angeles
DirectionsNear the Corner of Crenshaw Blvd and W Pico Blvd
Electric Expense0.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income500715.0
HOANo
Home Warranty Y/NNo
Insurance Expense13877.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsConventional
Lot Size Square Feet14281.0
Lot Size UnitsSquareFeet
MLS AreaC16 - Mid Los Angeles
MaintenanceExpense41016.0
MobileHomeRemainsYNNo
Net Operating Income227779.0
New ConstructionNo
Number Of Units Total40
Number of Units Leased40
Operating Expense247901.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusPending
StatusPending
Tax Lot70
Taxes$60,518
Total Actual Rent40143.0
Trash Expense20235.0
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1947
Year Built SourcePublicRecords
ZoningLAR3
Exterior for 1338 Crenshaw Boulevard
Building Area Total15176.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesTwoToFiveUnitsAcre
Lot Size Acres0.3278
Lot Size Area14281.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters2
Number of Separate Gas Meters2
Number of Separate Water Meters2
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking0.0
Water SourcePublic
Additional Details
Price History
Hal Schlegel
Broker Associate