Listing provided courtesy of Tony Azzi of Tony Azzi. Last updated 2025-10-19 08:11:10.000000. Listing information © 2025 Sandicor.
Asking Price: $2,500,000 |
707 Crenshaw, Los Angeles CA 90005
Community: C18 - Hancock Park-Wilshire
This property was built in 1940 and is priced at $2,500,000. Please see the additional details below.
707-709 Crenshaw Boulevard is a 13-unit multifamily property located in the desirable Wilshire Park / Mid-Wilshire neighborhood of Los Angeles. Built in 1940, the 6,362 SF Colonial Revival garden-style complex is spread across two buildings and features a strong unit mix of (9) studios and (4) two-bedroom units. The property has undergone over $400,000 in recent renovations, including new electrical, plumbing, structural upgrades, cabinetry, flooring, HVAC, and full cosmetic updates, ensuring long-term durability and reduced capital risk. Units are separately metered for electricity and gas, while the landlord covers only water and trash, keeping operating costs low. Offering a 5.89% cap rate and 10.3 GRM on current income with 28%+ rental upside, the property delivers strong in-place cash flow and room for growth. Ideally located near Hancock Park, Larchmont Village, Koreatown, and Miracle Mile, and steps from the planned Wilshire/Crenshaw joint development and Purple Line Extension, residents enjoy excellent access to retail, dining, and major job centers.