8823 S Figueroa St, Los Angeles, CA 90003

$1,500,000
12
BD
12
BA
5,424
SqFt
List Price
$1,500,000
MLS#
24-412851
Year Built
2003
Bedrooms
12
Bathrooms
12
Living Sq. Ft
5,424
Lot Size
6,214
Days on Market
7
Property Type
Multifamily
Stories
2

Property Description

2003 CONSTRUCTION- NO LA RENT CONTROL | 2 VACANCIES! | LARGE 3 BED, 2.5 BATH TOWNHOUSE UNITS. This modern 4-unit apartment building was constructed in 2003, and has NO LA City Rent Control.Spanning a total building size of 5,424 sqft on a 6,214 sqft lot, each of the four townhouse-style units features three spacious bedrooms and two and a half bathrooms. Two of these units are currently vacant, offering immediate occupancy or rental potential. Each unit is allocated four parking spaces, including a two-car garage and a carport, totaling sixteen parking spaces for the entire property. The LAC2 zoning adds another layer of value to this versatile investment.This property boasts several modern conveniences, including central air conditioning, all copper plumbing, and a newer roof, ensuring long-term durability and tenant comfort. Each unit is separately metered for utilities, providing a hassle-free management experience. The gated entrance enhances security and privacy, while washer and dryer hookups in every unit add a layer of convenience for tenants.This property is especially attractive for Section 8 voucher holders, allowing savvy investors to command high rents. Currently, the property operates at a 6.68% Cap Rate and a 9.90 GRM, highlighting its strong investment potential. Don't miss out on this rare opportunity to own a well-maintained, high-potential property in a desirable area of South Los Angeles. Please do not disturb the tenants. Drive-by only.

Additional Information

Other Buildings
Stall(s)
Heat
Central
Cooling
Central
Number of Cars in Garage
Carport Attached, Garage - 2 Car
Garage Spaces Total
8

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Calculator source: Real Geeks

Courtesy of RE/MAX One, Chase Simonton - CA DRE#01766871

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