Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2234 Crenshaw Blvd Los Angeles, CA 90016-1808
    Back to Search
    Property profile & analytics

    2234 Crenshaw Blvd Los Angeles, CA 90016-1808

    View on Map
    • Apartment buildings
    • 7,977 SF
    • 0.18 lot acres
    Off-Market
    Last Sale May 2, 2025
    $3,915,000
    Property ID
    US09-6833641
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $4,065,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2234 Crenshaw Blvd

    Year built
    1922
    Construction
    WOOD
    Lot size
    0.18 lot acres
    Property size
    7,977 SF
    Zone code
    LAR3
    Property type
    Apartment buildings
    APN
    5060-005-005
    APU
    5060005005

    Description

    This exceptional investment opportunity presents a brand-new, seven-unit townhome complex in Los Angeles's vibrant Mid-City neighborhood. Completed in 2024, this Class A property boasts 10,110 square feet, with 8,172 square feet of net rentable space. The three-story building comprises three duplexes, each unit featuring private laundry and parking (8 spaces total). All seven units are currently 100% occupied, generating a strong net operating income (NOI) of $240,219, resulting in a 5.56% capitalization rate. The property is situated on a 7,839 square foot lot and is zoned R3-1. Individual meters for water, gas, and solar-powered electricity are installed in each unit, along with a common area meter for exterior lighting and landscaping. Energy-efficient construction, drought-tolerant landscaping, and solar panels contribute to low maintenance and environmental friendliness. The property benefits from a full warranty and is conveniently located near major entertainment and tech companies in the Arts District, Culver City, and Ivy Station. This non-rent-controlled property offers a compelling investment with significant upside potential in a high-demand location. The asking price is $4,325,000, translating to $427.79 per square foot and $617,857.14 per unit. The property's APN is 5060005005.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,180,000
      ML approach
      $4,255,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $6,560,000
      AUTO REPAIR, GARAGE
      $4,335,000
      OFFICE BUILDING
      $4,005,000
      RETAIL STORES
      $3,915,000
      MEDICAL BUILDING
      $3,635,000
      NEIGHBORHOOD: SHOPPING CENTER
      $3,380,000
      INDUSTRIAL (GENERAL)
      $2,660,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.332
    Latitude
    34.0372
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $34,396
    $1,019,592
    $1,763,065
    $2,782,657
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      5,985 SF

      2150 West View St

      Multifamily properties • 5,985 SF
      2150 West View St, Los Angeles, CA 90016
      View Details
    • Value Estimation by Request
      9,581 SF

      5468 Blackwelder St

      APARTMENT HOUSE (5+ UNITS) • 9,581 SF
      5468 Blackwelder St, Los Angeles, CA 90016-3755
      View Details
    • Value Estimation by Request
      7,236 SF

      4824 Coliseum St

      APARTMENT HOUSE (5+ UNITS) • 7,236 SF
      4824 Coliseum St, Los Angeles, CA 90016-5375
      View Details
    • Value Estimation by Request
      8,670 SF

      3614 Carmona Ave

      APARTMENT HOUSE (5+ UNITS) • 8,670 SF
      3614 Carmona Ave, Los Angeles, CA 90016-5137
      View Details
    • Value Estimation by Request
      6,236 SF

      2219 Crenshaw Blvd

      APARTMENT HOUSE (5+ UNITS) • 6,236 SF
      2219 Crenshaw Blvd, Los Angeles, CA 90016-1833
      View Details
    • Value Estimation by Request
      5,852 SF

      2917 Mansfield Ave

      APARTMENT HOUSE (5+ UNITS) • 5,852 SF
      2917 Mansfield Ave, Los Angeles, CA 90016-3934
      View Details

    Similar Nearby for Sale

    • $1,895,000

      West Adams Multifamily Investment Opportunity

      Seven-unit multifamily property with rental upside and development potential.
      5614 W Adams Blvd, West Adams, CA 90016
      View Details
    • $2,395,000
      9,000 SF

      Mid-City LA Townhome Apartments

      Eight-unit townhome apartment building in Mid-City Los Angeles.
      2251 Crenshaw Blvd, Los Angeles, CA 90016
      View Details
    • $4,299,000
      9,236 SF

      New Construction Multifamily Investment Property

      Six-unit apartment building in Mid City, Los Angeles. Fully stabilized.
      5209 W 20Th St, Los Angeles, CA 90016
      View Details
    • $1,325,777
      5,075 SF

      Los Angeles Home with Upgrades

      Charming Los Angeles home with modern upgrades and private backyard.
      2116 S Palm Grove Ave, Los Angeles, CA 90016
      View Details
    • Contact for pricing
      7,903 SF

      Multifamily Property with 12 Units

      Multifamily property featuring 12 units in Los Angeles.
      2718 Cochran Ave, Los Angeles, CA 90016
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr

      Rehabbed Creative Space Available

      Rehabbed creative space for rent in Los Angeles.
      4126 W Jefferson Blvd, Los Angeles, CA 90016
      View Details
    • Contact for pricing

      Creative Office Space Available

      Creative office space featuring open floor plan, exposed brick.
      4005 W Jefferson Blvd, Los Angeles, CA 90016
      View Details
    • $2 SF/Yr
      15,250 SF

      Manufacturing/Office Space Near 10 Fwy

      Manufacturing and office space with parking near the 10 Fwy.
      5800-5830 W Jefferson Blvd, Los Angeles, CA 90016
      View Details
    • $5 SF/Yr
      73,250 SF

      Creative Office Campus For Rent

      Creative office campus featuring bow truss structures and abundant natural light.
      5950-5978 Bowcroft St, Los Angeles, CA 90016
      View Details
    • Contact for pricing
      40,000 SF

      Retail Space on Exposition Boulevard

      40000 sqft retail property available for lease.
      Exposition Blvd, Los Angeles, CA 90016
      View Details
    • $4 SF/Yr
      12,500 SF

      Retail Space for Lease

      Retail space available for lease in Los Angeles.
      3479-3485 S La Cienega Blvd, Los Angeles, CA 90016
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2234 Crenshaw Blvd
    Los Angeles, CA 90016-1808
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2234 Crenshaw Blvd, Los Angeles, CA, 90016
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!