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$ 2,850,000
Est. payment | /mo
11 Beds
11 Baths
8,300 SqFt
$ 2,850,000
Est. payment | /mo
11 Beds
11 Baths
8,300 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,300 sqft
Price per Sqft $343
MLS Listing ID 25530205
Bedrooms 11
HOA Y/N No
Year Built 1930
Lot Size 0.437 Acres
Property Description
Anchored by a 19,030-sqft C2 / TOC-Tier 2 Opportunity-Zone lot .9 miles from Fairview Heights K-Line and 1.5 mi from SoFi Stadium, Intuit Dome and Kia Forum, 7815 Crenshaw Ave marries reliable cash flow with outsized development upside. Family-owned and meticulously cared for more than 30 years, the gated compound features a 1930 Spanish eight-plex (all 1bd/1ba) plus one studio and the gated 1993 2,300-sqft 3-bed/3-bath Single Family Residence with 4-car garage in back of parcel generate a scheduled $199,518 NOI-ready rent roll, a 14.3 GRM and a 3.7% going-in cap rate even before tapping easy levers, with about 31% already guaranteed by Section 8. Eight additional secure garages and a broad drive aisle invite ADU conversions. Elevate the eight apartments to HACLA's $3k voucher ceiling and re-tenant the SFR at market, and gross income surges to $28k/mo ($336 k/yr), dropping the forward GRM below 10 and more than doubling NOI before any ADU or cosmetic lift. For builders, Tier 2 bonuses may accommodate roughly 40 units on a podium footprint, translating to sub-$75k land cost per future door and a coveted Opportunity-Zone timetable for potential capital-gains deferral. For yield buyers, today's numbers already pencil at 14.3 GRM and a 3.7 % cap, squarely within the K-Line corridor's trading band with clear runway for rapid rent growth. Backstopped by Crenshaw dirt comps north of $150/sqft, surrounded by billions in public and private investment, and powered by transit that funnels tenants from LAX, Silicon Beach and USC, this asset is the quintessential "cash-flowing covered land" with three distinct exit ramps, ADU infill, voucher-driven rent lifts, or full mixed-use redevelopment each poised to deliver outsized returns.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LAC2
Interior
Fireplace No
Exterior
Parking Features Driveway, Electric Gate, Gated, Private
Garage Spaces 13.0
Garage Description 13.0
Attached Garage No
Total Parking Spaces 26
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4012023007
Security Features Security Gate
Special Listing Condition Standard
Listed by James Respondek • Rodeo Realty - Pacific Palisades
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Alora Flucard
REALTOR® | Lic# 02172642