Property listed by Castillo Realty Group, Inc., Bryan Castillo 310-498-6908
$1,649,000
Location! Location! DEVELOPER’S DREAM! C2 Zoned 9,148 sq ft lot. 60' frontage X 152.46'. Pre-pandemic due diligence allowed for 20 units by right or 40 units taking advantage of TOC Tier III incentives. Take advantage of new legislations allowing for even greater density and streamlined approvals, such as SB 79… Read More - allowing developers to build up to 9 stories high with no parking required in transit oriented communities! Couple that with the One Big Beautiful Bill for bonus depreciation for properties located in opportunity zones. This property is located in the Crenshaw Corridor Opportunity Zone (tax incentives for long-term investors) adjacent to prominent View Park neighborhood. Front line of the brand new $2.1 Billion LAX/Crenshaw Metro K Line – walking distance to Vernon/Leimert Park and Crenshaw/Slauson Stations. Eased parking due to close proximity to Metro K Line stations! Current improvements include a 4 BD/2 BA SFR - 1,946 sq ft + Garage Converted 1 BD/1 BA ADU - 360 sq ft. Well maintained property with low maintenance allows you to instantly collect market value rent while you wait for the entitlement process! Exclusive right to sell adjacent lot (5100-5102 Crenshaw). Plus, 5026 Crenshaw Blvd lot also on the market for sale - LOOPNET. Don't miss your chance to acquire three adjacent parcels/lots with same lot dimensions to triple the size of your project! Alternatively, go 100% affordable or ED1 for even greater density. Extensive list of permitted zoning use possibilities! Close proximity to major freeways, grocery stores, coffee shops, restaurants, schools, malls, BMO Stadium, SoFi Stadium, The Dome, The Forum. Exciting new developments in the area – including the $1B redevelopment of Baldwin Hills-Crenshaw Plaza Mall and Crenshaw Crossing – just to name a few. Need to complete a 1031 exchange? Look no further. Act now and acquire your next asset using lower residential financing rates. Don’t miss out on the best priced lot on the Crenshaw Corridor. Listing info deemed reliable but not guaranteed. Buyer to verify and satisfy themselves on ALL aspects of the property. Buyer to conduct their own due diligence. No warranties expressed or implied. Read Less
Listing Snapshot
Days Online
73
Last Updated
Property Type
MultiFamily
Square Ft.
2,306
Lot Size
0.21 Acres
Year Built
1920
MLS Number
IN25271358
Additional Details
Building
Built in 1920, 2 buildings, 1 storey, Entry level: 1
Cooling
CentralAir
Expenses
Insurance: $2,725, Operating: $9,924
Fence
ExcellentCondition, Electric, Privacy, Wood
Heating
Central
Income
Gross ScheduledIncome: $81,000, Net Operating Income: $71,076
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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