5106 Crenshaw Blvd Los Angeles, CA 90043

This property presents a development opportunity with a C2 zoned 9,148 sq ft lot, featuring 60' frontage X 152.46'. Pre-pandemic due diligence allowed for 20 units by right or 40 units taking advantage of TOC Tier III incentives. New legislations allow for even greater density and streamlined approvals, such as SB 79, allowing developers to build up to 9 stories high with no parking required in transit oriented communities. The property is located in the Crenshaw Corridor Opportunity Zone, offering potential tax incentives for long-term investors. It is adjacent to the View Park neighborhood and situated on the front line of the LAX/Crenshaw Metro K Line, within walking distance to Vernon/Leimert Park and Crenshaw/Slauson Stations. The property includes a 1,946 sq ft SFR with 4 bedrooms and 2 bathrooms, plus a converted 360 sq ft garage ADU with 1 bedroom and 1 bathroom. The existing improvements allow for collecting market value rent while awaiting the entitlement process. The property is located in close proximity to major freeways, grocery stores, coffee shops, restaurants, schools, malls, BMO Stadium, SoFi Stadium, The Dome, and The Forum. There are new developments in the area, including the $1B redevelopment of Baldwin Hills-Crenshaw Plaza Mall and Crenshaw Crossing.