NOT LISTED FOR SALE

8400 Crenshaw Dr Inglewood, CA 90305

Morningside Park Neighborhood
11 Beds
9 Baths
11,982 Sq Ft
0.62 Acres

Last Sold April 17, 2019

Last sale price $3,025,000 $252 Per Sq Ft

17 Days on Market

Highlights

  • 0.62 Acre Lot
  • Corner Lot
  • Double Pane Windows
  • Property is near public transit
  • No HOA
  • Cooling System Mounted To A Wall/Window

About This Home

As of April 2019

This 15 -Unit Investment gem is ideally located a city block off the Century/Airport corridor and approximately a mile from the new LA Stadium, Forum & Entertainment District. The property consists of 2 parcels totaling 11,982 gross building square feet on an oversized 26,837 square foot prime corner lot location. It consists of (6) 2 bedroom units ranging from 800-860 sqft. (1) 650 sqft studio and (8) 1 bedroom units ranging from 700-750 sqft... Some units come with a private balcony or patio. The parking ratio is ample; each unit comes with an assigned 1 car garage, and driveway room. There are also 3 additional garages that can be used for rental income or extra storage. Long term tenants occupy the building. It is VERY rare for a unit to go vacant, but when one does the demand is HUGE. Onsite amenities include 2 laundry room areas with coin-op washer & dryer producing additional income, and a separate storage room. The building was retrofitted with new energy efficient, sound reduction windows and AC in 2014 and 2015. 14 of the 15 units are currently month-to-month making it ideal for rent increase potential and overall cap rate improvement. The influx of businesses necessary to support the stadium is expected to improve the local economy, job market and housing demand. This is an amazing location and great investment opportunity.

Last Agent to Sell the Property

Justin Miller

First Team Real Estate License #01292458 Listed on: 02/23/2019

First Team Real Estate

Last Buyer's Agent

Justin Miller

First Team Real Estate License #01292458 Listed on: 02/23/2019

First Team Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1953

Lot Details

  • 0.62 Acre Lot
  • No Common Walls
  • Stone Wall
  • Corner Lot
  • Front Yard
  • 4011023005

Parking

  • 18 Car Garage
  • Parking Available
  • Single Garage Door
  • Driveway

Home Design

  • Composition Roof

Interior Spaces

  • 11,982 Sq Ft Home
  • Double Pane Windows
  • ENERGY STAR Qualified Windows
  • Carpet

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 9 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Exterior Lighting
  • Outdoor Storage

Location

  • Property is near public transit

Utilities

  • Cooling System Mounted To A Wall/Window
  • Floor Furnace
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 26
  • Tax Tract Number 12112
  • Assessor Parcel Number 4011023006

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 15 Units

Amenities

  • Laundry Facilities

Building Details

  • 15 Leased Units
  • 17 Separate Electric Meters
  • 17 Separate Gas Meters
  • 3 Separate Water Meters
  • Electric Expense $780
  • Fuel Expense $900
  • Gardener Expense $1,500
  • Insurance Expense $6,000
  • Maintenance Expense $6,000
  • Other Expense $165
  • Pest Control $372
  • Professional Management Expense $11,400
  • Trash Expense $3,000
  • Water Sewer Expense $6,600
  • New Taxes Expense $38,000
  • Operating Expense $75,117
  • Gross Income $2,640
  • Net Operating Income $127,803

Property Details

Home Type

Multi-Family

Year Built

Built in 1953

Lot Details

0

Parking

18

Listing Details

  • Assessments: No
  • CapRate: 3.70
  • Professional Management Expense: 11400.00
  • Property Attached: No
  • Security: Carbon Monoxide Detector(s), Smoke Detector(s)
  • View: No
  • Water Sewer Expenses: 6600.00
  • Zoning: INR3YY
  • Property Type: Residential Income
  • Gardener Expense: 1500.00
  • Parcel Number: 4011023006
  • Year Built: 1953
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Common Walls: No Common Walls
  • Flooring: Carpet
  • Levels: One
  • Price Per Square Foot: 252.46
  • Window Features: Double Pane Windows, ENERGY STAR Qualified Windows

Exterior Features

  • Other Structures: Storage
  • Fence: Yes
  • Fencing: Stone
  • Pool Private: No
  • Roof: Composition
  • Spa: No

Garage/Parking

  • Garage Spaces: 18.00
  • Parking: Yes
  • Parking Features: Driveway, Garage, Garage - Single Door
  • Total Parking Spaces: 18.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Floor Furnace, Wall Furnace
  • Laundry Features: Community
  • Pest Control Expense: 372.00
  • Sewer: Public Sewer
  • Trash Expense: 3000.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 4011023005
  • Land Lease: No
  • Lot Features: Corner Lot, Front Yard, Lot 20000-39999 Sqft, Near Public Transit
  • Lot Size Sq Ft: 26837.00
  • Lot Size Acres: 0.6161

Rental Info

  • Garage Rental Rate: 60.00
  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 750 Square Feet
  • Average2 Bed Area: 860 Square Feet
  • Average Studio Area: 650 Square Feet
  • Electric Expense: 780.00
  • Fuel Expense: 900.00
  • Garage Income: 1440.00
  • Gross Income: 2640.00
  • Gross Multiplier: 17.20
  • Gross Scheduled Income: 202920.00
  • Insurance Expense: 6000.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 1200.00
  • Lot Size Area: 26837.0000 Square Feet
  • Maintenance Expense: 6000.00
  • Net Operating Income: 127803.00
  • Number Of Rented Garages: 2
  • Number Of Separate Electric Meters: 17
  • Number Of Separate Gas Meters: 17
  • Number Of Separate Water Meters: 3
  • Number Of Units Leased: 15
  • Number Of Units Total: 15
  • Number Wall A C: 15
  • Number With Carpet: 15
  • Number With Disposal: 15
  • Number With Drapes: 15
  • Number With Patio: 15
  • Number With Range: 15
  • Number With Refrigerator: 15
  • Operating Expense: 75117.00
  • Other Expense: 165.00
  • Other Expense Description: fire ext
  • Rent Control: No
  • Total Actual Rent: 200280.00
  • Total Expenses: 75117.00

Tax Info

  • New Taxes Expense: 38000.00
  • Tax Area: 4569
  • Tax Census Tract: 6008.02
  • Tax Lot: 26
  • Tax Tract Number: 12112

Range of Values:

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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 Change Sq Ft Price
04/17/2019 04/17/19 Sold $3,025,000 -13.4% $252 / Sq Ft
03/12/2019 03/12/19 Pending -- -- --
02/23/2019 02/23/19 For Sale $3,495,000 -- $292 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2019

    Justin Miller

    First Team Real Estate

    (949) 836-9535

    7 Total Sales

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW19041087

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Inglewood 90305 Morningside Park

8400 Crenshaw Dr, Inglewood, CA

This home is located at 8400 Crenshaw Dr, Inglewood, CA 90305 since 23 February 2019. This property was built in 1953. 8400 Crenshaw Dr is a home located in Los Angeles County with nearby schools including Monroe (Albert F.) Middle School, Inglewood High School, and Alliance Leadership Middle Academy.

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. 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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