1502 CRENSHAW BLVD
LOS ANGELES, 90019
4-Unit with 20 Bedrooms RTI on 7,100 SF LAR3 Lot
7,100 SF LAR 3-1
RTI DEVELOPMENT OPPORTUNITY. The sale of this property comes with fully approved RTI plans to build a 7,695sf 4-Unit townhome style complex with 20 bedrooms, 19 bathrooms and 9 parking spaces. The plans for the modern minimalist double duplex feature (3) 5Br+5Ba units and (1) 5Br+4Ba unit with balconies, patios and rear units with private outdoor space. Parking includes 5 uncovered and 4 covered spaces. All utilities are individually metered. The future property has an estimated ARV of $3mil to $3.2mil with a projected annual gross income of $230,000 (an avg. monthly rent of $4,800/unit), putting it at an approx. 5.5% Cap. Currently standing is a 2,542sf 4Br+2Ba SFR on a 7,100sf LAR3-1 T. O. C. Tier 3 lot. Located in a Prime Mid-City pocket near grocery markets, schools and trendy restaurants such as Pasta Sisters, Grain Cafe and Gus' World Famous Fried Chicken.