8-Unit Apartment
1183 Crenshaw Boulevard, Los Angeles, CA 90019
For Sale
New
$2,526,000
Three-story property with a mix of one-, two-, and three-bedroom apartments and in-unit laundry.
Property Size7,762 SF
Lot Size0.15 Acres
Price / SF$325.43
Days on Market6
Property Features for 1183 Crenshaw Boulevard
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Net Operating Income
Site & Location
Neighborhood
Highway Access
Additional Details
Sprinkler System
Multifamily Units
Tenant in Place
Amenities
open floor plan
central air and heat
in-unit washer and dryer
stainless appliances
Building Details
Building Size
Year Built
Stories
Construction
Listing Agency:
Coldwell Banker Realty
Listed By:
Chad Pape · License CA #01411814
(949) 394-8971
Source:
Velocityrealtysd
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 2:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Built in 2015, this three-story apartment property contains eight units across 7,762 square feet on a 6,554-square-foot LAR3 lot. The unit mix includes one-, two-, and three-bedroom layouts. Each apartment has an open floor plan, central air and heat, a washer and dryer, and stainless-steel appliances, including a dishwasher and gas cooktop. Fire sprinklers serve the building, and gated garage parking accommodates 12 cars. Two units are currently vacant. The property is exempt from state rent control.
Located on Crenshaw Boulevard in Los Angeles, the property offers freeway access and is minutes from Koreatown, Downtown, Hancock Park, Century City, and the Olympic Boulevard tech corridor.
Located on Crenshaw Boulevard in Los Angeles, the property offers freeway access and is minutes from Koreatown, Downtown, Hancock Park, Century City, and the Olympic Boulevard tech corridor.
Key Highlights
- Eight units built in 2015
- 7,762 square feet on a 6,554‑square‑foot LAR3 lot
- One-, two-, and three‑bedroom apartment layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,897
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,497,940
$2.5M
Cap Rate 7%
$1,784,243
$1.8M
Cap Rate 9%
$1,387,744
$1.4M
Market Conditions
NOI Build-Up for 7,762 SF
Gross rent
$246.8K $31.80/SF
− Vacancy
−$19.7K −$2.54/SF
EGI
$227.1K $29.26/SF
− OpEx
−$102.2K −$13.17/SF
NOI
$124.9K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,497,940
Cap Rate 7%
$1,784,243
Cap Rate 9%
$1,387,744
Alternative Uses
Best Use
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,897 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $226,851 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,664
Businesses Nearby
Explore this area
Business Placement
Demographics for 90019, CA
62,002
Population
26,203
Households
2.4
Avg Household Size
38
Median Age
39%
College-Educated
80%
High-School Grad
3.9 sq mi
ZIP Area
15,898
Density / Sq Mi
$71,395
Median Household Income
$40,316
Median Earnings
$1,782
Median Rent
$1,178,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles, CA
Properties on Market for Apartment buildings in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story property with a mix of one-, two-, and three-bedroom apartments and in-unit laundry.
Where is this apartment building located?
The property is located at 1183 Crenshaw Boulevard Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,526,000.
What are key features of this property?
This property features: Eight units built in 2015; 7,762 square feet on a 6,554‑square‑foot LAR3 lot; One-, two-, and three‑bedroom apartment layouts
