6 Unit Multifamily, Los Angeles, CA

NON – RENT CONTROL, 100% leased, unheard of 5.48% CAP. StreetLamp Partners are pleased to present 2234 Crenshaw Boulevard, a green-certified and solar-equipped new construction six-unit luxury townhome complex. This multi-family site has plans in the process of approval for an ADU to bring the unit count to seven with a 6.13% proforma cap rate. For the general contractors and developers searching for a property with extra income potential, the seller is willing to provide the buyer with budgets and contracts to build the proposed ADU through a quick and cost-effective conversion of garage space.

This non-rent-controlled luxury complex comprises three duplexes, totaling six new construction townhomes, each with private laundry rooms and two parking spaces. Each unit has separate water and gas meters, an owner’s common area electric meter for exterior lighting, and a common area water meter for servicing and landscape irrigation. The property features drought-tolerant landscaping and energy-efficient building materials, appliances, and fixtures, presenting the buyer with a fully warrantied, low-maintenance, environmentally friendly property. Additionally, the property has solar systems owned outright (no lease), providing tenants or landlords with energy credits.

It is just minutes from the Arts District, Culver City Steps, and Ivy Station, which houses Amazon Studios, Sony Pictures, HBO, Beats Electronics and many more tech and entertainment companies pouring into the neighborhood. Adjacent to Beverlywood and Culver City, this site has benefitted much of the demand in this scorching market of Mid-City. Great rent comps are being achieved in this affluent neighborhood, primarily driven by the surrounding tech hubs, and supporting services providing high-paying and stable jobs. 2234 Crenshaw Avenue is primed to offer an ideal six-unit multi-family opportunity that can be delivered fully leased at escrow and with approved plans pending approval for an ADU in bustling Mid-City.