Fully Leased Section 8 Housing | 2234 Crenshaw Blvd
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Fully Leased Section 8 Housing 2234 Crenshaw Blvd
7 Unit Apartment Building $4,222,000 ($603,143/Unit) 6% Cap Rate Los Angeles, CA 90016
Investment Highlights
- Non-RSO.
- Fully warrantied.
- 100% leased section 8 tenants
- Fully leased at market rents.
- ACTUAL 5.87% CAP RATE
- Green Certified and Solar equipped.
Executive Summary
NEW CONSTRUCTION MID-CITY SEVEN UNIT TOWNHOME COMPLEX 6% CAP FULLY LEASED TO SECTION 8 TENANTS
We are pleased to announce a NON-RENT CONTROLLED, Fully Warrantied, Green Certified and Solar equipped Seven-unit complex. All units leased to Section 8 tenants at market rents operating at a turnkey 6% Cap rate! The property is located just minutes from the Arts District, Culver City Steps and Ivy Station, which house Amazon Studios, Sony Pictures, HBO, Beats Electronics and many more tech and entertainment companies pouring into the neighborhood.
Incredible rent comps are being achieved in this neighborhood, driven largely by the surrounding tech hubs, and supporting services providing high-paying and stable jobs. Mid-City overall has been a very hot market, its centralized location makes it convenient to get to the beach cities or downtown within minutes.
This non-rent-controlled luxury complex is comprised of three duplexes, totaling seven new construction townhomes, each with private laundry rooms and parking for select units. The layouts are very functional and desirable among renters. Each unit is equipped with separate meters for water, gas and solar power electricity, as well as an owner’s common area electric meter for exterior lighting and common area water meter for servicing and landscape irrigation. The property is completed with drought tolerant landscaping, as well as energy efficient building materials, Solar, appliances, and fixtures presenting the buyer with a fully warrantied, low maintenance, environmentally friendly property.
Please contact us regarding this opportunity or one of the seller’s many other similar developments throughout Los Angeles.
We are pleased to announce a NON-RENT CONTROLLED, Fully Warrantied, Green Certified and Solar equipped Seven-unit complex. All units leased to Section 8 tenants at market rents operating at a turnkey 6% Cap rate! The property is located just minutes from the Arts District, Culver City Steps and Ivy Station, which house Amazon Studios, Sony Pictures, HBO, Beats Electronics and many more tech and entertainment companies pouring into the neighborhood.
Incredible rent comps are being achieved in this neighborhood, driven largely by the surrounding tech hubs, and supporting services providing high-paying and stable jobs. Mid-City overall has been a very hot market, its centralized location makes it convenient to get to the beach cities or downtown within minutes.
This non-rent-controlled luxury complex is comprised of three duplexes, totaling seven new construction townhomes, each with private laundry rooms and parking for select units. The layouts are very functional and desirable among renters. Each unit is equipped with separate meters for water, gas and solar power electricity, as well as an owner’s common area electric meter for exterior lighting and common area water meter for servicing and landscape irrigation. The property is completed with drought tolerant landscaping, as well as energy efficient building materials, Solar, appliances, and fixtures presenting the buyer with a fully warrantied, low maintenance, environmentally friendly property.
Please contact us regarding this opportunity or one of the seller’s many other similar developments throughout Los Angeles.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,222,000 | Building Class | B |
| Price Per Unit | $603,143 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 10,110 SF |
| Cap Rate | 6% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 0.79/1,000 SF |
| Apartment Style | Townhome |
| Price | $4,222,000 |
| Price Per Unit | $603,143 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.18 AC |
| Building Size | 10,110 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2024 |
| Parking Ratio | 0.79/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Heating
- Dining Room
Site Amenities
- Controlled Access
- Fenced Lot
- Gated
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 2 | $3,875 | 1,248 |
| 3+2 | 2 | $3,950 | 1,234 - 1,336 |
| 4+3 | 1 | $4,320 | 1,553 |
| 2+2 | 1 | $3,052 | 800 |
| 3+3 | 1 | $3,915 | 1,553 |
Walk Score ®
Very Walkable (83)
zoning
| Zoning Code | R3-1 (The Multiple Residential (R-3) Zone is intended to promote the development of grouped housing such as townhouses, condominiums and apartments.) |
| R3-1 (The Multiple Residential (R-3) Zone is intended to promote the development of grouped housing such as townhouses, condominiums and apartments.) |
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Fully Leased Section 8 Housing | 2234 Crenshaw Blvd
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