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959 Crenshaw Blvd 12,573 SF Retail Building Los Angeles, CA 90019 For Sale
Investment Highlights
- Redevelopment Opportunity at the Bustling Intersection of Olympic & Crenshaw Blvds.
- Can Add On-Site Digital Signage by Right for Significant Revenue Generation
- Offered with Adjacent Surface Parking Lot (33 Additional Parking Spaces); Providing Flexibility for Expansion
- Fully Entitled to Build 147 Affordable Units & ±2,400 SF of Retail Space
- Entitlement Includes 51 Parking Spaces
- Exceptional Location and Accessibility to Thriving Submarkets
Executive Summary
CBRE, as exclusive agent, is pleased to present an excellent opportunity to acquire a fully entitled site to build 147 affordable units and ±2,400 SF of retail space at the highly visible northwest corner of Crenshaw and Olympic Boulevards, in the Mid-Wilshire submarket of Los Angeles. At just over one-acre of land, the property is currently improved with a vacant ±12,500 square foot standalone retail building and surface parking, and is inclusive of the adjacent surface parking lot located at 952-958 S Victoria Avenue.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Freestanding
Building Size
12,573 SF
Building Class
C
Year Built
1972
Tenancy
Single
Building Height
1 Story
Building FAR
0.29
Lot Size
1.01 AC
Zoning
CR-1VL & R1-1-HPOZ - mixed-use zoning
Parking
52 Spaces (4.14 Spaces per 1,000 SF Leased)
Frontage
185’ on Crenshaw Blvd
Amenities
- Signage
Very walkable
80/100
Exceptionally drivable
90/100
Strong public transit
80/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 5090-034-017 | Improvements Assessment | $66,929 |
| Land Assessment | $1,690,009 | Total Assessment | $1,756,938 |
Property Taxes
Parcel Number
5090-034-017
Land Assessment
$1,690,009
Improvements Assessment
$66,929
Total Assessment
$1,756,938
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959 Crenshaw Blvd
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