Situated in an Opportunity Zone with excellent tax saving potential for investors and owner-users, 4703-4705 Crenshaw Blvd. is an extensively renovated mixed-use storefront retail / residential building in the heart of the Crenshaw District of Los Angeles.The property includes a ground floor retail space of 1,800 SF divided into two units. Each unit benefits from over 15 foot high ceilings, extensive renovations, and has a 350 square foot built-out loft area. Unit 4705 has a loft with interior access, used for additional retail storage, or office use, while Unit 4703 has a 350 square foot loft built-out as a residential studio apartment unit with exterior access via a recently rebuilt wooden staircase. Unit 4705 is used for clothing retail sales, on a month-to-month lease. With its rear exterior access, the studio apartment loft above unit 4703 has the option to be leased out separately. Unit 4705 is vacant. On-site parking of 6 spaces is available at the rear (west) side of the building with secured, gated, alleyway access. The building is wood frame & stucco with a flat roof design. Crenshaw is a historically rich neighborhood that has established itself as an axis of culture, politics, and the arts, specifically within the African American community. Its central location, equidistant from the West Side, Downtown L.A., and Hollywood, makes it a crossroads for the Los Angeles scene. Recently, there have been a spate of large mixed-use development projects within a one mile radius of the subject property, including the Crenshaw Lofts, a 195 unit project in development immediately next door. An owner-user can obtain up to 90% Small Business Administration (SBA) Financing.
