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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.
| DAYS ON MARKET | 75 | LAST UPDATED | 11/11/2025 |
|---|---|---|---|
| YEAR BUILT | 1940 | COMMUNITY | C18 - Hancock Park-Wilshire |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| PRICE HISTORY | |
| Prior to Nov 11, '25 | $2,500,000 |
|---|---|
| Nov 11, '25 - Today | $2,395,000 |
| ADDITIONAL DETAILS | |
| AREA | C18 - Hancock Park-Wilshire |
|---|---|
| GARAGE | Yes |
| LOT | 7501 sq ft |
| LOT DIMENSIONS | 50x150 |
| PARKING | Garage |
| STORIES | 2 |
| STYLE | Colonial |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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