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1929 Crenshaw Boulevard, Los Angeles, California 90016, Los Angeles, 90016 - 3 bed, 1 bath

1929 Crenshaw Boulevard, Los Angeles, California 90016 home-pic-0
ACTIVE$950,000
1929 Crenshaw Boulevard, Los Angeles, California 90016
3Beds
1Bath
3,255Sqft
7,325Lot
Year Built
1912
Close
-
List price
$950K
Original List price
$950K
Price/Sqft
$292
HOA
-
Days on market
-
Sold On
-
MLS number
OC25078602
Home ConditionPoor
Features
Good View: None
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 11% below the list price. We found 3 Cons,5 Pros. Rank: price - $950.0K(31th), sqft - 3255(99th), beds - 3(50th), baths - 1(33th).

Huge Price reduction!!! This single-family home offers charm, versatility, and investment potential. Officially a single-family residence, it is divided into three separate units, generating $4,700 in monthly rental income. The main house on the first floor is spacious and well-lit, while the second floor features two private units. Additionally, the detached garage has been converted into an independent third unit, maximizing rental opportunities. Though the units are unpermitted, the property retains its single-family classification, allowing flexibility for future updates or development. Located in a rapidly growing Los Angeles neighborhood, it provides excellent access to freeways, public transportation, and popular areas like Downtown, Koreatown, and Mid-Wilshire. Surrounded by vibrant cultural and recreational amenities, including The Grove, LACMA, and the upcoming Lucas Museum, the area’s appeal continues to grow alongside rising property values. With steady income and long-term appreciation potential, this home is ideal for investors or homeowners seeking supplemental income. Its flexible layout and location in a thriving area make it a rare and valuable opportunity. Schedule a showing today to explore this promising property! It is perfect for Fixer or Flipping

Price History

Date
Event
Price
10/09/01
Sold
$300,000
03/06/01
Sold
$185,000
11/23/99
Sold
$248,500
08/14/98
Sold
$135,000
Condition Rating
Poor
Built in 1912, this property is over a century old and explicitly marketed as a 'Fixer or Flipping' opportunity requiring 'Extensive Renovation.' The lack of interior images, particularly of kitchens and bathrooms, strongly suggests these areas are in very poor, outdated, or non-functional condition. The presence of unpermitted units further indicates potential code violations and substandard work. While it generates income, it likely requires substantial repairs and rehabilitation to major systems and components to meet modern safety and comfort standards, aligning with the 'poor' condition criteria.
Pros & Cons

Pros

Strong Rental Income: The property currently generates $4,700 in monthly rental income from three separate units, offering immediate cash flow for investors.
Exceptional Investment Potential: Positioned as ideal for investors or homeowners seeking supplemental income, with explicit mention of 'Fixer or Flipping' potential and long-term appreciation in a thriving area.
Strategic Los Angeles Location: Located in a rapidly growing LA neighborhood with excellent access to freeways, public transportation, and popular areas like Downtown, Koreatown, and Mid-Wilshire, surrounded by cultural amenities.
Flexible Layout & Classification: Officially a single-family residence but divided into three units, offering versatility for owner-occupancy with income or full rental, while retaining single-family classification for development flexibility.
Generous Property Size: Boasts a substantial 3255 sqft of living space on a 7325 sqft lot, providing ample room for various uses or potential future expansion.

Cons

Unpermitted Units: The property's three separate units, including a converted garage, are unpermitted, posing significant legal and financial risks for the buyer.
Requires Extensive Renovation: Marketed as a 'Fixer or Flipping' opportunity, indicating the property will require substantial capital investment for repairs, upgrades, and modernization.
Age of Property: Built in 1912, the property is likely to have outdated systems and structural components, leading to higher maintenance costs and the need for significant renovation to meet current standards.

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