Under contract

Active Under Contract

5471 Crenshaw Boulevard

Los Angeles CA, 90043

$3,995,000


$166.60 per sqft

Under contract

Active Under Contract

0.55 Acres

Land

Listed by Casey Lins with Kidder Mathews of California, Inc. 714-333-6768

$2M Price Reduction! 5471 Crenshaw Blvd, a +/- 23,979sf C2-2D zoned, Tier 4 TOC, Opportunity Zone development site is located along the dynamic Crenshaw Blvd corridor. Located just 1-block away from the new LAX to Crenshaw Metro Rail Line, the property is well positioned to provide tenants with ease of access to LAX, West Adams, USC, DTLA, Santa Monica, and Culver City. The building is currently improved with a +/-5,317sf commercial building and a parking lot that can accommodate 25+ cars. Currently, Bank of America operates 2 ATM's on the property with 4 years remaining on their initial lease term. Whether you're a business seeking a high visibility location, or an investor seeking a covered land play, the property is well positioned to provide profits for future generations. The Crenshaw corridor is going through significant upgrades with nearby developments include The Crenshaw Lofts (195 units), 4252 Crenshaw Blvd (111 units), 4827 Crenshaw Blvd (32 units), 5300 Crenshaw Blvd (82 units), 5144 Crenshaw Blvd (78 units), and the $1 Billion redevelopment of the Baldwin Hills Crenshaw Plaza! 5471 Crenshaw Blvd presents one of the last few remaining 20,000+sf sites along the Crenshaw Blvd corridor, with an estimated cost of $167/sf on land, and $37K/developable unit, in line with comparable sales nearby.

23255461

MLS ID

March 29, 2023

Listed

October 17, 2024

Updated

Map

5471 Crenshaw Boulevard
Los Angeles CA, 90043

Exterior/Building Features

Lot Size

0.55 Acres

Other Property Details

Area Name

PHHT - Park Hills Heights


Days on Market

553


Garage

No


Parking Total

0


View

Yes


View Description

City Lights


County

Los Angeles


Pool

No


Zoning

LAC2

Listing History

Date

Event

Price

10/3/2024

Under contract

5/21/2024

Active

1/30/2024

Under contract

12/13/2023

Price change

$3,995,000

-15%

8/2/2023

Price change

$4,650,000

-7%

Listing Contact: 858-369-3010 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/17/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 10/17/2024 at 12:38 PM UTC

 

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