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$ 3,995,000
Est. payment /mo
Active Under Contract
5471 Crenshaw BLVD Los Angeles, CA 90043
0.55 Acres Lot
UPDATED:
12/05/2024 12:54 AM
Key Details
Property Type Commercial
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 23255455
HOA Y/N No
Year Built 1963
Lot Size 0.550 Acres
Property Description
$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.
Location
State CA
County Los Angeles
Area Phht - Park Hills Heights
Zoning LAC2
Interior
Fireplace No
Exterior
Total Parking Spaces 25
Building
Story 1
Others
Tax ID 5006005028
Special Listing Condition Standard
Listed by Casey Lins • Kidder Mathews of California, Inc.