$2,395,000
$105K PRICE DROP

707 - 709 Crenshaw Blvd Los Angeles, CA 90005

Miracle Mile Neighborhood

Estimated payment $15,043/month

Total Views 900
8 Beds
13 Baths
6,362 Sq Ft
$376 Price per Sq Ft

About This Home

707-709 Crenshaw Boulevard is a 13-unit multifamily property located in the desirable Wilshire Park / Mid-Wilshire neighborhood of Los Angeles. Built in 1940, the 6,362 SF Colonial Revival garden-style complex is spread across two buildings and features a strong unit mix of (9) studios and (4) two-bedroom units. The property has undergone over $400,000 in recent renovations, including new electrical, plumbing, structural upgrades, cabinetry, flooring, HVAC, and full cosmetic updates, ensuring long-term durability and reduced capital risk. Units are separately metered for electricity and gas, while the landlord covers only water and trash, keeping operating costs low. Offering a 6.20% cap rate and 9.88 GRM on current income with 28%+ rental upside, the property delivers strong in-place cash flow and room for growth. Ideally located near Hancock Park, Larchmont Village, Koreatown, and Miracle Mile, and steps from the planned Wilshire/Crenshaw joint development and Purple Line Extension, residents enjoy excellent access to retail, dining, and major job centers.

Listing Agent

Tony Azzi

Tony Azzi License #00910513 Listed on: 09/22/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1940

Lot Details

  • 7,499 Sq Ft Lot
  • Lot Dimensions are 50x150

Parking

  • Garage

Home Design

  • Colonial Architecture

Interior Spaces

  • 6,362 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 13 Bathrooms

Location

  • City Lot

Community Details

  • 13 Units
  • Vacancy Allowance $12,117

Listing and Financial Details

  • Assessor Parcel Number 5090-032-008

Property Details

Home Type

Multi-Family

Year Built

Built in 1940

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Style: Colonial
  • Levels: Two
  • Street Number Display: Yes
  • Advertising Remarks: 707-709 Crenshaw Boulevard is a 13-unit multifamily property in the Wilshire Park / Mid-Wilshire neighborhood of Los Angeles. Built in 1940, the 6,362 SF Colonial Revival garden-style complex spans two buildings with a mix of (9) studios and (4) two-bedroom units. The property has undergone $400,000+ in upgrades, including new electrical, plumbing, structural work, cabinetry, flooring, HVAC, and cosmetic renovations ensuring long-term durability and reduced capital risk. Units are separately metered for electricity and gas, with landlord responsibility limited to water and trash. Offering a 6.20% cap rate and 9.88 GRM on current income with 28%+ rental upside, the asset is ideally positioned steps from the Purple Line Extension and Wilshire/Crenshaw development, and minutes from Hancock Park, Larchmont Village, Koreatown, and Miracle Mile.
  • Living Area: 6362
  • Lot Acreage: 0.1722
  • Lot Dimensions: 50x150
  • Stories: 2
  • Year Built: 1940
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 8
  • Total Bathrooms: 13.00
  • Price Per S Q F T: 376.45

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Garage

Lot Info

  • Assessed Improvement Percent: 30.95
  • Assessed Improvement Value: 689785
  • Assessed Land Percent: 69.05
  • Assessed Land Value: 1538751
  • Total Assessed Value: 2228536
  • Assessor Parcel Number: 5090-032-008
  • Lot Location: City
  • Lot Size Area: 7499

Rental Info

  • Total Actual Rent: 20194.00

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 9.88
  • Number Of Units: 13
  • Type Of Units: Market/Affor
  • Vacancy Allow: 12117
  • Vacancy Allow Percent: 5.00

Map

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/11/2025 11/11/25 Price Changed $2,395,000 -4.2% $376 / Sq Ft
09/22/2025 09/22/25 For Sale $2,500,000 -- $393 / Sq Ft
Source: The MLS

Source: The MLS

MLS Number: 25599733

The MLS
California Los Angeles County Los Angeles 90005 Miracle Mile

707 - 709 Crenshaw Blvd, Los Angeles, CA

For Sale

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Tony Azzi
Listing Agent
Tony Azzi
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Tony Azzi
(310) 909-5454