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1183 Crenshaw Blvd

611 Unit Block of Flats £3,089,109 (£5,056/Unit) 4.05% Net Initial Yield Los Angeles, CA 90019

Investment Highlights

  • Contemporary 8-unit apartment-built in 2015
  • High traffic location
  • Open floorpan

Executive Summary

Coldwell Banker and Steven Ito are proud to present an exceptional opportunity to own a meticulously crafted eight-unit apartment building built in 2015.The apartment consist of (7)-two-bedroom units and (1)-one -bedroom unit. No low income units.
All 8-units are market rate units! This property stands as a testament to an owner/builder constructed apartment with a high-quality build and thoughtful design. The 1183 Crenshaw apartment offers a blend of modern amenities, including remote AC and heat, built-in stainless steel appliances with on grade secure parking. The (1)-one bedroom unit and seven-two-bedroom units with future upside rent potential! 1187 Crenshaw Blvd is also available for sale, providing a rare opportunity to acquire side by side apartments for ease of management and maintenance.
Strategically located south of Olympic Blvd and north of Pico Blvd on 1100 block of Crenshaw Blvd. The apartment is located in a high traffic, high demand, mid-Wilshire location. Neighboring communities include, Koreatown, Hancock Park, Windsor Square, Larchmont village to the north and the Brookside residential community just minutes away. The property sits in close proximity to the 10-freeway system and other major public transportation. Restaurants, shopping and grocery stores are conveniently located just minutes away from this exceptional contemporary apartment building. Minutes to downtown Los Angeles and easy access to the Westside.
Whether your investor is seeking a lucrative cash flow opportunity or a homeowner looking to generate passive income, this meticulously crafted 2015-built apartment building offers both current cash flow and future upside potential. Don't miss the opportunity to purchase this beautiful contemporary apartment that could not be duplicated at the current asking price! The adjacent apartment 1187 Crenshaw Blvd is also for sale at an asking price of $5.5M. Please call or email for more information!

Data Room Click Here to Access

Financial Summary (Actual - 2023)

Annual Annual Per SF
Gross Rental Income £198,264 £25.54
Other Income - -
Vacancy Loss - -
Effective Gross Income £198,264 £25.54
Taxes - -
Operating Expenses - -
Total Expenses £59,479 £7.66
Net Operating Income £138,785 £17.88

Financial Summary (Actual - 2023)

Gross Rental Income
Annual £198,264
Annual Per SF £25.54
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual £198,264
Annual Per SF £25.54
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual £59,479
Annual Per SF £7.66
Net Operating Income
Annual £138,785
Annual Per SF £17.88

Property Facts

Price £3,089,109
Price Per Unit £5,056
Sale Type Investment
Net Initial Yield 4.05%
No. Units 611
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.15 AC
Building Size 7,762 SF
Average Occupancy 75%
Number of Floors 2
Year Built 2015

Amenities

  • Smoke Detector

Unit Amenities

  • Air Conditioning
  • Balcony
  • Cable Ready
  • Dishwasher
  • Disposal
  • Microwave
  • Washer/Dryer
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Freezer
  • Patio

Site Amenities

  • Controlled Access
  • Gated
  • Gas Range
  • Car Charging Station

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 101 £1,568 -
2+2 102 £2,178 -
2+1 103 £2,440 -
2+1 104 £2,178 -
2+1 201 - -
Walk Score ®
Very Walkable (87)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
5082-025-028
Land Assessment
£524,444 (2024)
Improvements Assessment
£890,925 (2024)
Total Assessment
£1,415,370 (2024)

zoning

Zoning Code R3-1-0 (Property per city website lists the property as an R3-1-0, zoned property. The property designated as a transit- TOC-tier 3 property.)
R3-1-0 (Property per city website lists the property as an R3-1-0, zoned property. The property designated as a transit- TOC-tier 3 property.)
  • Listing ID: 32202260

  • Date on Market: 20/06/2024

  • Last Updated:

  • Address: 1183 Crenshaw Blvd, Los Angeles, CA 90019

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