4841-4843 crenshaw blvd
PRICE
BUILDING SIZE
WEST LOS ANGELES, CA 90064
$695,000
±2,337 SF
LOT SIZE
±7,800 SF
PRO FORMA CAP RATE
ZONING
YEAR BUILT
8.02%
C2-2D-SP
1941 (4843) · 1954 (4841)
The Brandon Michaels Group of Marcus & Millichap, as Exclusive Advisor, is pleased to present 4841-4843 Crenshaw Boulevard (the “Property”), two adjoining parcels totaling approximately 7,800 square feet of land improved with approximately 2-,337 square feet of storefront retail, fronting Crenshaw Boulevard at Westmount Avenue in Los Angeles. The Property is offered by an institutional lender-owner and will be delivered 100% vacant and free and clear of all tenancy.
The investment thesis is anchored by an exceptional land basis. At the $695,000 offering price, the Property is priced at approximately $89 per square foot of land, effectively in line with the $88.79-per-square-foot average achieved by recent market-rate development land sales on and around the Crenshaw Corridor.
Delivered 100% vacant, the Property provides new ownership with immediate control over lease-up, tenant selection, and long-term positioning. Pro forma scheduled income of $62,088 annually, together with $14,764 in projected triple-net reimbursements, results in estimated net operating income of $55,762. This equates to an 8.02% pro forma capitalization rate at the $695,000 offering price and a 7.14% return on total cost after accounting for a fully loaded lease-up budget of $85,632.
The Property presents a straightforward retail investment profile. The improvements consist of two ground-floor storefronts measuring approximately 1,360 and 977 square feet, together with one billboard position. With no residential component, the Property avoids residential rent-regulation exposure and mixed-use management considerations.