1215 Crenshaw Boulevard, Los Angeles, California 90019, Los Angeles, 90019 - 3 bed, 1 bath
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Los Angeles, California 90019
This property presents a High-Potential Investment Opportunity with a List Price of $1,400,000, positioned above the $1,172,808 Fair Market Value. While the current structure has a Condition Rating of 6, the value is anchored in its 7,008 sq. ft. lot with R-3 Zoning and Tier 3 TOC, allowing for significant multi-family density. The existing vacant residence provides interim cash flow during the entitlement process. This is a strategic acquisition ideal for Multi-Family Developers or Buy-and-Hold Investors focused on long-term asset appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1215 Crenshaw Boulevard Subject | $1,400,000* List Price | 3 | 1 | 2,578 | $455 | - |
A 1621 5th Avenue Sold | $1,050,000 | 4 | 2 | 2,372 | $443 | 0.5 mi |
B 1437 12th Avenue Active | $1,249,000 List Price | 3 | 1 | 1,934 | $646 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is land value only, full reconstruction required.
Built in 1911 (>50 years old) with no recorded renovations, the property is explicitly marketed as a 'development opportunity' with R-3 zoning and Tier 3 TOC, indicating the value lies in the land rather than the existing structure.
The property is situated on a 7,008 sq. ft. lot with R-3 zoning and a Tier 3 TOC designation, offering significant density bonuses for multi-family development in a High Resource Area.
The existing 2,578 sq. ft. vacant single-family residence provides a strategic opportunity to generate rental income to offset carrying costs during the entitlement and permitting process.
Located in the Hancock Park-Wilshire area, the property benefits from its proximity to major transit corridors and employment hubs, ensuring high demand for future residential units.
Built in 1911 with a 3-bedroom, 1-bathroom layout, the current structure is significantly outdated and likely requires a total teardown to maximize the land's value.
Positioned directly on Crenshaw Boulevard, the site is subject to high noise levels and traffic congestion, which may impact the desirability and premium pricing of future residential development.
Excellent 7,008 sq. ft. development opportunity located in a High Resource Area, Zoned R-3 with a Tier 3 TOC. The property is currently a vacant 2,578.0 sq. ft. SFR that can bring income during the entitlement period.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 2,578 | 1,672 |
| Lot Size | 7,010 | 6,067 |
| Price | $1.40M | $1.37M |
| Price per sq ft | $543 | $801 |
| Built year | 1911 | 1939 |
| HOA | $0 | $348 |
| Days on market | 15 | 56 |
Jul 7, 2026
$1,400,000
Initial Listing
Jun 25, 2015
$740,000
Public Record
Apr 20, 2004
$550,000
Public Record