$5,100,000
$4,999,999
2.0%For more information regarding the value of a property, please contact us for a free consultation.
4034 Crenshaw Blvd Los Angeles, CA 90008
3,731 SqFt
Key Details
Sold Price $5,100,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 3,731 sqft
Price per Sqft $1,366
MLS Listing ID 24-398655
Sold Date 10/03/24
Year Built 2000
Lot Size 0.502 Acres
Acres 0.5024
Property Description
Trust Sale. No Court confirmation required. Rare opportunity to acquire a prime commercial NNN property on a ground lease in highly sought-after Leimert Park. First time for sale, since subject property was developed in 2001. 21,877 sq. ft. (=0.5 acres) lot, zoned LAC2, on the south-east signalized corner of Crenshaw Blvd. & Martin Luther King Jr. Blvd. Tenant is Krispy Kreme, with current lease term until Oct. 31, 2029. Tenant has 2 additional 5-year options to extend beyond Oct. 2029, with annual CPI increases. Starting CAP rate of 5.00% effective Nov. 1, 2024, when the monthly NNN base rent will be $20,743.32. Annual CPI increases with minimum 2.00% effective Nov. 1, 2025. Seller is an independent Trustee, and cannot make any representations as to the condition, history of the subject property. Sold AS IS and WHERE IS. Buyer to conduct their own investigations.
Location
State CA
County Los Angeles
Area Park Hills Heights
Zoning LAC2
Interior
Heating Central
Laundry None
Exterior
Garage Spaces 25.0
Roof Type Flat
Building
Water District
Others
Special Listing Condition Standard
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Bought with Roger Glickman
GUIDE SoCal
Broker | License ID: DRE#01976964