The Hirth Group has been exclusively selected to market for sale 2254 Crenshaw Boulevard, Los Angeles CA 90016 (“the Property”), a multifamily investment and development opportunity in the booming West Adams District of Los Angeles. The asset is comprised two buildings, one two story house boasting four-bedrooms and two baths in front and in the rear two one-bedroom / one bath apartment units above four private garages located below the apartment units.
The property is ideal for an owner user that wants to occupy the home while generating income from the apartment units, or for a savvy developer looking for a small development project in the thriving West Adams District of Los Angeles. The site is zoned LAR3 with Tier 2 incentives and by exercising the Transit Oriented Communities (TOC) guidelines an investor is entitled 16 units (2 of which are extremely low income), 25,324 of buildable square footage, a 60% density bonus with 45 Feet (One additional story up to 11 additional feet- 56 Feet Total) height restriction and an increased FAR of 3.25:1. West Adams offers relatively reasonable prices right next door to this booming tech hub, and the Expo Line makes commuting a breeze.
West Adams is located in the center of Los Angeles, in an area stretching roughly from Figueroa Street on the east to West Boulevard on the west, and from Pico Boulevard on the north to Jefferson Boulevard on the south. From the Santa Monica freeway, exit at Crenshaw, Arlington, Western, Normandie, Vermont or Hoover. The neighborhood seems certain to change as commercial development at its margins increases, making it more attractive to new buyers.