Anchored by a 19,030-sqft C2 / TOC-Tier 2 Opportunity-Zone lot .9 miles from Fairview Heights K-Line and 1.5 mi from SoFi Stadium, Intuit Dome and Kia Forum, 7815 Crenshaw Ave marries reliable cash flow with outsized development upside. Family-owned and meticulously cared for more than 30 years, the gated compound features a 1930 Spanish eight-plex (all 1bd/1ba) plus one studio and the gated 1993 2,300-sqft 3-bed/3-bath Single Family Residence with 4-car garage in back of parcel generate a scheduled $199,518 NOI-ready rent roll, a 14.3 GRM and a 3.7% going-in cap rate even before tapping easy levers, with about 31% already guaranteed by Section 8. Eight additional secure garages and a broad drive aisle invite ADU conversions. Elevate the eight apartments to HACLA's $3k voucher ceiling and re-tenant the SFR at market, and gross income surges to $28k/mo ($336 k/yr), dropping the forward GRM below 10 and more than doubling NOI before any ADU or cosmetic lift. For builders, Tier 2 bonuses may accommodate roughly 40 units on a podium footprint, translating to sub-$75k land cost per future door and a coveted Opportunity-Zone timetable for potential capital-gains deferral. For yield buyers, today's numbers already pencil at 14.3 GRM and a 3.7 % cap, squarely within the K-Line corridor's trading band with clear runway for rapid rent growth. Backstopped by Crenshaw dirt comps north of $150/sqft, surrounded by billions in public and private investment, and powered by transit that funnels tenants from LAX, Silicon Beach and USC, this asset is the quintessential "cash-flowing covered land" with three distinct exit ramps, ADU infill, voucher-driven rent lifts, or full mixed-use redevelopment each poised to deliver outsized returns.
Days on market: 0
Listing updated: April 25, 2025 - 06:47:04
Listed by: James Respondek DRE #00713972 310-566-4400, Rodeo Realty - Pacific Palisades - Malibu
Source: Malibu, MLS#: CLW-X0117109 Originating MLS: CRMLS
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