DEVELOPER’S DREAM LOCATED ON THE CRENSHAW CORRIDOR OPPORTUNITY ZONE – VIEW PARK
INVESTMENT HIGHLIGHTS:
- Highly Motivated Seller – $1,699,000
- Build 20 units by right or 40 units taking advantage of TOC incentives! Buyer to verify with appropriate professional(s).
- Located in the Crenshaw Corridor Opportunity Zone (tax incentives for long-term investors) adjacent to prominent View Park neighborhood
- Front line of the brand new $2.1 Billion LAX/Crenshaw Metro K Line – walking distance to Leimert Park and Hyde Park Stations
- Zoned C2-2D-SP
- TOC TIER III
- 9,148 sq ft lot
- MAX FAR: 34,258.50 sq. ft (33,258.50 Residential + 1,000 Commercial/Retail)
- Eased Parking Restrictions: No Parking required due to close proximity to LAX/Crenshaw Metro K Line stations
- Current improvements: SFR (5106) 4 bed / 2 bath – 1,946 sq ft + Garage Converted ADU (5108) Studio / 1 bath – 360 sq ft (COO dated 5/3/23)
- Endless possibilities: a). Collect income at market value rent: at least $5,000 – $6,500/month for the SFR + $1,900/month ADU, while you wait for the entitlement process & break-ground on construction once RTI; b). Or, Hold & Collect a steady income stream & simply sell down the road with plans attached; c). Or, Build 8-10 townhome bi-level units; d). Alternatively, go the 100% affordable route or ED1; e). Or, perhaps your vision is to build something that is missing in the vicinity, such as: a car wash; bakery; coffee shop; meat market or deli; cleaners; drug store; parking lot; nursing home; your favorite restaurant – zoning permitted uses are extensive!
- Exciting new developments in the area include, but not limited to:
- 5300 Crenshaw Blvd – lot sold for $5,250,000 – 82 units under construction
- 5144 Crenshaw Blvd – 79 units under construction
- 5110 Crenshaw Blvd – 30 units
- 5126 Crenshaw Blvd – lot sold for $5M
- 2922 Crenshaw Blvd – Three-story: 87,000-square-foot office building
- 3894 Crenshaw Blvd – 104 units
- 4252 Crenshaw Blvd – 111 units
- 4827 Crenshaw Blvd – 32 units
- 4605 Crenshaw Blvd – 195 units
- 4421 Crenshaw Blvd – 101 units
- 4220 Crenshaw Blvd – 124 units
- 5960 Crenshaw Blvd – 38 units
- 6144 Crenshaw Blvd – 25 units
- 5365 Crenshaw Blvd – 48 units
- $1 Billion redevelopment of the Baldwin Hills Crenshaw Plaza Mall
- Crenshaw Crossing: 3630 S. Crenshaw Boulevard / 3606 W. Exposition Boulevard – construction of two podium-type buildings consisting of 401 units
EXTERIOR PROPERTY PHOTOS
5106 CRENSHAW BLVD – INTERIOR PICTURES
5108 CRENSHAW BLVD – INTERIOR PICTURES
