1929 Crenshaw, Los Angeles, California 90016, Los Angeles, 90016 - 7 bed, 4 bath
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Los Angeles, California 90016
This Multi-Unit Investment Asset presents a High-Potential Investment Opportunity with a List Price of $950,000—positioned well below the $1,104,005 Fair Market Value by 13%. This valuation gap offers $154,005 in Instant Equity for buyers ready to address a Poor Condition Rating and unpermitted conversions. Currently generating $4,700 monthly, the property features City Lights views and significant Value-Add potential through modernization or redevelopment in a high-growth corridor. This strategic acquisition is ideal for Fix-and-Flip Investors or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1929 Crenshaw Subject | $964,000 | 7 | 4 | 3,255 | $339 | - |
A 1931 1931 Buckingham Sold | $925,000 | 5 | 1 | 2,608 | $355 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1912, this property is explicitly marketed as a 'Fixer or Flipping' opportunity, requiring 'significant renovation.' The presence of unpermitted unit conversions and 'historic property challenges' strongly indicates outdated infrastructure and potential defects affecting safety or structural integrity, aligning with the 'Poor' condition criteria. The absence of interior images prevents a detailed assessment of kitchen and bathroom specifics, but the overall context points to a property in need of substantial rehabilitation.
The property is currently divided into three income-producing units, generating $4,700/month, offering significant rental potential and flexible living arrangements for investors or owner-users.
Situated in a rapidly growing Los Angeles neighborhood with excellent access to major freeways, public transportation, and key cultural/commercial hubs like Downtown, Koreatown, and The Grove.
Benefits from consistent rental income, strong long-term appreciation trends in the area, and inherent upside for updates or redevelopment given its Single-Family Residence (SFR) designation.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 7, other record bedroom count = 3.
The existing multi-unit divisions and garage conversion are unpermitted, presenting legal and financial risks for a buyer, including potential costs for legalization or remediation.
Marketed as a 'Fixer or Flipping' opportunity, indicating the property is not move-in ready and will require substantial investment in repairs, updates, or modernization.
Featuring a total of 7 bedrooms and 3.5 bathrooms across multiple spaces — including a 3-bedroom/1.5-bath main unit on the first floor, a 3-bedroom/1-bath setup on the second floor, and a 1-bedroom/1-bath garage conversion — this property delivers exceptional flexibility and rental potential. This single-family residence is officially classified as SFR but currently divided into three separate income-producing units, generating $4,700 per month. The first floor serves as the primary living area, bright and spacious with its own private layout. The second floor is configured into two private units offering additional bedrooms and rental options. The detached garage has been thoughtfully converted into an independent unit, further maximizing cash flow opportunities. While the conversions are unpermitted, the SFR designation remains intact, providing future potential for updates or redevelopment. Situated in a rapidly growing Los Angeles neighborhood, the home offers excellent access to freeways, public transportation, and major hotspots such as Downtown, Koreatown, Mid-Wilshire, The Grove, LACMA, and the upcoming Lucas Museum. With consistent rental income and strong long-term appreciation trends, this property is ideal for investors or owner-users seeking supplemental income. The flexible layout, location, and upside potential make it a rare find. Schedule a showing today to explore this promising opportunity — perfect for Fixer or Flipping.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 7.0 | 3.0 | 96% |
| Baths | 4.0 | 2.0 | 95% |
| Square foot | 3,255 | 1,508 | 96% |
| Lot Size | 7,325 | 5,996 | 89% |
| Price | $964.0K | $1.03M | 40% |
| Price per sq ft | $296 | $744 | 4% |
| Built year | 1912 | 1928 | 5% |
| HOA | $0 | $0 | 50% |
| Days on market | 186 | 156 | 60% |
Nov 13, 2025
$950,000
Initial Listing
Mar 6, 2001
$185,000
Public Record
Nov 23, 1999
$248,500
Public Record
Aug 14, 1998
$135,000
Public Record