Active
10507 S Figueroa Street
Los Angeles CA, 90003
$2,450,000
$251.02 per sqft
Active
16 Beds
16 Baths
9,760 sqft
Residential
Built in 1956
Listed by Enrique Viramontes with Remax Commercial and Investment Realty 213-233-4363
THIS PROPERTY IS AVAILABLE FOR PURCHASE INDEPENDENTLY OR AS PART OF A 4 PROPERTY, 118 UNIT PORTFOLIO. Introducing, for the first time on market in over 20 years, a unique opportunity to purchase this four multifamily property portfolio comprised of 118 units in the heart of Los Angeles. The collection includes four large properties that sit on a total of seven parcels and almost 100K sf of land. Each building ranges from 17 to 50 units and has plenty of onsite parking, independent meters for gas and electricity, and various recent upgrades. The economics of the offering show immediate returns at the current income level. However, with market rents continuing in an upward trend, an aggressive management approach may realize the 75% upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historical low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,915 for 3-bedroom units, $3,052 for 2-bedroom units, $2,407 for 1-bedroom units, and $2,132 for studio units. The properties are strategically located near access to major freeways, employment, entertainment, and transportation options. SoFi Stadium (LA Rams), the new Intuit Dome (LA Clippers), BMO Stadium (Angel City FC), Los Angeles International Airport, are all within minutes of any of the subject properties.
24431041
MLSⓇ ID
August 22, 2024
Listed
September 13, 2024
Updated
Map
10507 S Figueroa Street
Los Angeles CA, 90003
Interior Features
Total Stories
2
Bedrooms
16
Total Bathrooms
16
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Wall Furnace
Exterior/Building Features
Lot Size
0.24 Acres
Other Property Details
Area Name
C36 - Metropolitan Southwest
Days on Market
8
Garage
No
Parking
Assigned
Parking Total
3
View
No
County
Los Angeles
Pool
No
Zoning
LAC2
Listing Contact: 213-817-1000
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 9/13/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 9/13/2024 at 3:14 PM UTC