10-Bedroom Multifamily
702 Crenshaw Blvd, Los Angeles, CA 90005
For Sale
$1,495,000
The vacant, furnished residence features an oversized kitchen and renovated interiors.
Property Size2,691 SF
Lot Size0.24 Acres
Price / SF$555.56
Days on Market49
Property Features for 702 Crenshaw Blvd
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Public Transit
Additional Details
Furnished
Cap Rate
Land Use
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Listing Agency:
EstateX inc.
Listed By:
Davis Saadian · License #01921748
(310) 402-8958
Source:
Rochellemaize
Added: Sep 22
Changed: Nov 7
Last Checked: Nov 8 at 3:47PM
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 EstateX inc.
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Investment Insights
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This 2,691-square-foot multifamily residence contains 10 bedrooms and 5 full bathrooms and is being offered vacant with furnishings in place. Built in 1920, it has vinyl plank flooring, dual-pane windows, central air conditioning, upgraded electrical, copper plumbing, quartz countertops, custom cabinetry, and remodeled bathrooms. The oversized kitchen includes multiple refrigerators. Furniture is also provided in the bedrooms, bathrooms, living room, kitchen, and outdoor areas.
The property occupies an approximately 10,500-square-foot lot zoned LAR3. Potential approaches described for the site include operating the existing residence, considering ADUs or additional units, or pursuing a larger multifamily project. Any use would remain subject to applicable licensing and government requirements. The stated investment metrics are a 9.25% cap rate and an 8.3x GRM.
Located just south of Wilshire Boulevard, the property is near Hancock Park, Koreatown, Larchmont Village, Windsor Square, and Miracle Mile, with access to dining, shopping, employment centers, cultural destinations, and public transportation.
The property occupies an approximately 10,500-square-foot lot zoned LAR3. Potential approaches described for the site include operating the existing residence, considering ADUs or additional units, or pursuing a larger multifamily project. Any use would remain subject to applicable licensing and government requirements. The stated investment metrics are a 9.25% cap rate and an 8.3x GRM.
Located just south of Wilshire Boulevard, the property is near Hancock Park, Koreatown, Larchmont Village, Windsor Square, and Miracle Mile, with access to dining, shopping, employment centers, cultural destinations, and public transportation.
Key Highlights
- 10 bedrooms and 5 full bathrooms in 2,691 square feet
- Approximately 10,500‑square‑foot lot with LAR3 zoning
- Vacant and furnished, including bedrooms, living areas, kitchen, and outdoor spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,300
Cap Rate
2.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$866,000
$866.0K
Cap Rate 7%
$618,571
$618.6K
Cap Rate 9%
$481,111
$481.1K
Market Conditions
NOI Build-Up for 2,691 SF
Gross rent
$85.6K $31.80/SF
− Vacancy
−$6.8K −$2.54/SF
EGI
$78.7K $29.26/SF
− OpEx
−$35.4K −$13.17/SF
NOI
$43.3K $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%
$866,000
Cap Rate 7%
$618,571
Cap Rate 9%
$481,111
Alternative Uses
Best Use
Apartment 5plus
$618.6K
$541.3K – $721.7K
NOI $43,300 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$983.1K – $1.31M
NOI $78,647 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,759
Businesses Nearby
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Business Placement
Demographics for 90005, CA
37,987
Population
19,357
Households
2
Avg Household Size
37
Median Age
38%
College-Educated
74%
High-School Grad
1.2 sq mi
ZIP Area
31,656
Density / Sq Mi
$52,755
Median Household Income
$35,847
Median Earnings
$1,648
Median Rent
$1,084,400
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Los Angeles, CA
Properties on Market for Multifamily properties in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - The vacant, furnished residence features an oversized kitchen and renovated interiors.
Where is this multifamily property located?
The property is located at 702 Crenshaw Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 10 bedrooms and 5 full bathrooms in 2,691 square feet; Approximately 10,500‑square‑foot lot with LAR3 zoning; Vacant and furnished, including bedrooms, living areas, kitchen, and outdoor spaces
