5
See all 5 photos
$3,995,000
Est. payment /mo
0.55 Acres Lot
Active Under Contract
5471 Crenshaw Blvd Los Angeles, CA 90043
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UPDATED:
10/02/2024 11:43 PM
Key Details
Property Type Vacant Land
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 23-255461
Lot Size 0.550 Acres
Acres 0.5505
Property Description
$2M Price Reduction! 5471 Crenshaw Blvd, a +/- 23,979sf C2-2D zoned, Tier 4 TOC, Opportunity Zone development site is located along the dynamic Crenshaw Blvd corridor. Located just 1-block away from the new LAX to Crenshaw Metro Rail Line, the property is well positioned to provide tenants with ease of access to LAX, West Adams, USC, DTLA, Santa Monica, and Culver City. The building is currently improved with a +/-5,317sf commercial building and a parking lot that can accommodate 25+ cars. Currently, Bank of America operates 2 ATM's on the property with 4 years remaining on their initial lease term. Whether you're a business seeking a high visibility location, or an investor seeking a covered land play, the property is well positioned to provide profits for future generations. The Crenshaw corridor is going through significant upgrades with nearby developments include The Crenshaw Lofts (195 units), 4252 Crenshaw Blvd (111 units), 4827 Crenshaw Blvd (32 units), 5300 Crenshaw Blvd (82 units), 5144 Crenshaw Blvd (78 units), and the $1 Billion redevelopment of the Baldwin Hills Crenshaw Plaza! 5471 Crenshaw Blvd presents one of the last few remaining 20,000+sf sites along the Crenshaw Blvd corridor, with an estimated cost of $167/sf on land, and $37K/developable unit, in line with comparable sales nearby.
Location
State CA
County Los Angeles
Area Park Hills Heights
Zoning LAC2
Exterior
View Y/N Yes
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Special Listing Condition Standard
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Listed by Kidder Mathews of California, Inc.