For Sale
$5,900,000

1009 Crenshaw BlvdLos Angeles, CA 90019

High-traffic location, owner-user opportunity

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 240 sq ft gas station in Los Angeles' Koreatown offers a rare owner-user opportunity. Located at a high-traffic intersection (Crenshaw & Olympic Blvds.), this 10-pump station boasts 260+ feet of street frontage and over 62,000 cars daily. Built in 1984 on a 0.4-acre lot, it features a 100% occupancy rate and a month-to-month lease, allowing for immediate owner-operation. The property benefits from significant rental upside potential and qualifies for accelerated depreciation tax benefits and E85 Fueling Infrastructure Grant Programs. Its established history includes recent environmental reports. The dense, affluent surrounding area (over 51,495 residents within 1 mile, average household income exceeding $99,462) ensures strong demand. An adjacent 7,500 sq ft lot is also available for purchase, allowing for expansion. This fee-simple property is priced at $5,900,000 and is ideal for a 1031 exchange. The property's APN is 5082-027-023 and is zoned LAC2.

Highlights

  • Rare opportunity to acquire a gas station in Los Angeles' Koreatown.
  • Month-to-month lease allows for immediate owner-user operation.
  • Eligible for E85 Fueling Infrastructure Grants and accelerated depreciation.
  • Significant rental upside potential due to the month-to-month lease.
  • High-traffic corner lot at Crenshaw & Olympic Blvds., with 260+ feet of frontage and over 62,000 cars daily.
  • 10-pump station.

Property Details for 1009 Crenshaw Blvd

Property type
Retail properties, Gas stations
Square Feet
240 SF
Year Built
1984
Lot Size (sq. ft)
17,424 SF

Location Insight

City
Los Angeles
County
Los Angeles
State
California
Latitude
34.0544518
Longitude
-118.3234795
1009 Crenshaw Blvd, Los Angeles, California

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1009 Crenshaw Blvd
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