707 Crenshaw Boulevard Los Angeles, CA 90005

MAJOR $400,000 PRICE REDUCTION. See DOCs section for OM. 707 Crenshaw Boulevard is a ten-unit classic 1940s vintage apartment building constructed in 1940. The unit mix consists of six light housekeeping units, one studio, two 2bedroom/1bathroom units and two 3bedroom/2bathroom units. The 3bedroom/2...bathroom units were originally 2bedroom/1bathroom units and were converted with permits. The newly added bedrooms/bathrooms in each of these units have their own entry and have been leased separately from the rest of the unit. The property will be delivered with RTI plans for a 4 bed/4bath two story 1,100 square foot accessory dwelling unit and plans that have been submitted to LADBS to create an additional studio on the 2nd floor of the main building. The property currently is a two-story,6,362-square-foot walk-up building with wood frame and stucco construction plus a separate small freestanding parking garage building with laundry room, situated on a7,499-square-foot lot. The superior location and classic building architecture provide the perfect opportunity for an investor to continue the value-add strategy of the current owner, who has already completed the following:* Added one studio in the main building *Submitted plans to LADBS for a second similar studio to be created by taki Continue reading