Investment Overview

Marcus & Millichap, as Exclusive Advisor, is pleased to present 6422 Crenshaw Boulevard, a 5,240 square foot school property situated on 0.33 acres of land (14,381 SF) located less than 0.2 miles from the Metro K line Leimert Park Station in the Los Angeles submarket of Leimert Park, CA. The 6422 Crenshaw Boulevard is zoned C2-2D-SP, designated a Tier 3 in the Transit Oriented Communities (TOC) incentive program, and is situated in the Crenshaw Corridor and South Los Angeles Alcohol Sales specific plans. By right, thirty-six (36) units can be developed on the site and up to sixty-two (62) using the 70% density bonus through the TOC. New developments are allowed up to a 2.00 FAR or 3.00 FAR for mixed-use projects. TOC projects are permitted an additional 45% FAR increase and an additional 22 feet above the 60 foot by-right height limit. Because of the site’s proximity to transit, new projects are eligible for AB 2097, eliminating any parking requirements. Ambitious developers can achieve greater bonuses using the California State Density Bonus Law which allows density bonuses up to 100%. The subject property is also an Executive Directive 1 (ED1) eligible site which permits unlimited density, height restriction up to 93 feet, and up to four (4) on or off menu development incentives. 6422 Crenshaw Boulevard is currently operating as a school and can be vacated as early as July 1st, 2025, making it an ideal owner-user or value-add opportunity. The property sits beside a corner retail strip center and has access along Crenshaw Blvd as well as Hyde Park Blvd. The area to the rear of the property as well as the parcel fronting Hyde Park Blvd is used as large yards that serve as playgrounds for school use. Because of the property’s underlying C2-2D-SP zoning, a variety of school uses as well as a myriad of other commercial uses are allowed by right. The subject property benefits from approximately 60 feet of frontage along Crenshaw Boulevard. The property is situated centrally along Crenshaw Boulevard, benefiting from proximity to the Hyde Park and Fairview Heights Metro K Line stations, both less than 0.5 miles away from the subject property or a 10-minute walk. While already highly dense, the area has been the subject of rapid gentrification and revitalization through the implementation of the Crenshaw Corridor Specific Plan.