JUST LISTED: DEVELOPER’S DREAM LOCATED ON THE CRENSHAW CORRIDOR OPPORTUNITY ZONE – VIEW PARK ADJACENT
EXTERIOR PROPERTY PHOTOS
INVESTMENT HIGHLIGHTS:
Highly Motivated Seller – $1,749,000
Build 20 units by right or 40 units taking advantage of TOC incentives! Buyer to verify with appropriate professional(s).
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 Leimert Park and Hyde Park Stations
Zoned C2-2D-SP
TOC TIER III
9,148 sq ft lot
MAX FAR: 34,258.50 sq. ft (33,258.50 Residential + 1,000 Commercial/Retail)
Eased Parking Restrictions: No Parking required due to close proximity to LAX/Crenshaw Metro K Line stations
Current improvements: SFR (5106) 4 bed / 2 bath – 1,946 sq ft + Garage Converted ADU (5108) Studio / 1 bath – 360 sq ft (COO dated 5/3/23)
Single Family home (5106) – delivered vacant
Garage converted ADU rented at $1,900/month – Lease expires 6/8/24
Endless possibilities: a). Collect income at market value rent: at least $5,000 – $6,500/month for the SFR + $1,900/month ADU, while you wait for the entitlement process & break-ground on construction once RTI; b). Or, Hold & Collect a steady income stream & simply sell down the road with plans attached; c). Or, Build 8-10 townhome bi-level units; d). etc.
Exciting new developments in the area include, but not limited to:
5300 Crenshaw Blvd – lot sold for $5,250,000 – 82 units under construction
5144 Crenshaw Blvd – 79 units under construction
5110 Crenshaw Blvd – 30 units
5126 Crenshaw Blvd – lot sold for $5M
2922 Crenshaw Blvd – Three-story: 87,000-square-foot office building
3894 Crenshaw Blvd – 104 units
4252 Crenshaw Blvd – 111 units
4827 Crenshaw Blvd – 32 units
4605 Crenshaw Blvd – 195 units
4421 Crenshaw Blvd – 101 units
4220 Crenshaw Blvd – 124 units
5960 Crenshaw Blvd – 38 units
6144 Crenshaw Blvd – 25 units
5365 Crenshaw Blvd – 48 units
$1 Billion redevelopment of the Baldwin Hills Crenshaw Plaza Mall
Crenshaw Crossing: 3630 S. Crenshaw Boulevard / 3606 W. Exposition Boulevard – construction of two podium-type buildings consisting of 401 units
