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7324 Crenshaw Blvd 11 Unit Apartment Building $1,895,000 ($172,273/Unit) 7.01% Cap Rate Los Angeles, CA 90043
Investment Highlights
- Well maintained two story Classic 1960's Garden Style Apartment Complex. 10 units plus 1 additional non-permitted studio apartment.
- Corner lot with parking on site for 10 vehicles and laundry room.
- Most of the rents are below market and can be increased annually under the Los Angeles Rent Stabilization Ordinance. Raise to market upon turnover.
Executive Summary
The subject property is a two-story walkup apartment complex consisting of a 10 unit building with an additional non-permitted unit on one parcel. The building was constructed in 1961 and has 7 (1+1), 3 (2+1) units and a non permitted studio apartment. There is a laundry room onsite and parking for 10 vehicles. The property and improvements have been well maintained by long term ownership, and there is significant upside in rental income as units turnover. The adjacent property at 3321-3325 West 74th Street is a 20 unit apartment building and is being offered for sale by the same ownership.
The property is well located just 7 minutes east of the thriving entertainment district of Inglewood which features SoFi Stadium, The Kia Forum, Intuit Dome, YouTube Theatre, Hollywood Park Casino and a multitude of dining options. Even closer to the property are Centinela Hospital, Target, Costco, Home Depot. There are major employers just 30 minutes away in Downtown LA. The area is densely populated which results in a strong rental market.
The property is well located just 7 minutes east of the thriving entertainment district of Inglewood which features SoFi Stadium, The Kia Forum, Intuit Dome, YouTube Theatre, Hollywood Park Casino and a multitude of dining options. Even closer to the property are Centinela Hospital, Target, Costco, Home Depot. There are major employers just 30 minutes away in Downtown LA. The area is densely populated which results in a strong rental market.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$208,561
|
$25.45
|
| Other Income |
$1,842
|
$0.22
|
| Vacancy Loss |
$8,342
|
$1.02
|
| Effective Gross Income |
$202,061
|
$24.65
|
| Taxes |
$25,000
|
$3.05
|
| Operating Expenses |
$44,222
|
$5.40
|
| Total Expenses |
$69,222
|
$8.45
|
| Net Operating Income |
$132,839
|
$16.21
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $208,561 |
| Annual Per SF | $25.45 |
| Other Income | |
|---|---|
| Annual | $1,842 |
| Annual Per SF | $0.22 |
| Vacancy Loss | |
|---|---|
| Annual | $8,342 |
| Annual Per SF | $1.02 |
| Effective Gross Income | |
|---|---|
| Annual | $202,061 |
| Annual Per SF | $24.65 |
| Taxes | |
|---|---|
| Annual | $25,000 |
| Annual Per SF | $3.05 |
| Operating Expenses | |
|---|---|
| Annual | $44,222 |
| Annual Per SF | $5.40 |
| Total Expenses | |
|---|---|
| Annual | $69,222 |
| Annual Per SF | $8.45 |
| Net Operating Income | |
|---|---|
| Annual | $132,839 |
| Annual Per SF | $16.21 |
Property Facts
| Price | $1,895,000 | Apartment Style | Low-Rise |
| Price Per Unit | $172,273 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 7.01% | Building Size | 8,196 SF |
| Gross Rent Multiplier | 9.03 | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.22/1,000 SF |
| Zoning | C2-R4 - C2-R4 Commercial, multi-residential and mixed use. | ||
| Price | $1,895,000 |
| Price Per Unit | $172,273 |
| Sale Type | Investment |
| Cap Rate | 7.01% |
| Gross Rent Multiplier | 9.03 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 8,196 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.22/1,000 SF |
| Zoning | C2-R4 - C2-R4 Commercial, multi-residential and mixed use. |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Disposal
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Carpet
Site Amenities
- Courtyard
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 7 | $1,612 | 850 |
| 1+1 | 3 | $1,749 | 650 |
| Studios | 1 | $851.00 | 600 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 4012-015-022 | Total Assessment | $263,794 |
| Land Assessment | $46,181 | Annual Taxes | $25,000 ($3.05/SF) |
| Improvements Assessment | $217,613 | Tax Year | 2025 |
Property Taxes
Parcel Number
4012-015-022
Land Assessment
$46,181
Improvements Assessment
$217,613
Total Assessment
$263,794
Annual Taxes
$25,000 ($3.05/SF)
Tax Year
2025
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7324 Crenshaw Blvd
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