New Listing
2241 Crenshaw Boulevard,Los Angeles, CA 90016
Los Angeles, CA 90016
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. 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.
Details
| MLS # | 26873363 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1927 |
| Days On Site | 3 |
| Listing Provided By | Equity Union | Joshua Yeager |
Features
| Bed(s) | 9 |
|---|---|
| Bath(s) | 8 |
| SQ Feet | 4,720 |
| Story(s) | 2 |
| Units | 8 |
| Building(s) | 1 |
| Zoning | LAR3 |
| Acreage | 0.33 |
| Property View | Yes |
Interior
| Appliances | Dryer, Washer |
|---|
Exterior
| Lot Features | Back Yard, Front Yard, Value In Land, Yard |
|---|
Parking
| Parking Features | Direct Access, Driveway, Garage, Gated, Oversized, Private, Shared Driveway, Side By Side, Uncovered |
|---|---|
| Garage Yes / No | Yes |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90016 |
| Area | C16 Mid Los Angeles |
| Listing VS Median (in 90016) | |
Price: $2,150,000 low | high Med: $1,949,500 sqft: 4,720 low | high Med: 4,791 $ / sqft: $456 low | high Med: $407 On site: 3 low | high Med: 315.5 | |
Market Activity 90016
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90016 |
| Area | C16 Mid Los Angeles |
| Listing VS Median (in 90016) | |
Price: $2,150,000 low | high Med: $1,949,500 sqft: 4,720 low | high Med: 4,791 $ / sqft: $456 low | high Med: $407 On site: 3 low | high Med: 315.5 | |
