$4,489,000
10705 Figueroa Street, Los Angeles 90061
3
Beds
2
Baths
10,400
Square feet
15,231
Lot Size
10
# Of Units
Listing Agent
Sky Minor - Sky Minor, BrokerI am proud to present the Figueroa Flats, a ten unit apartment building located in South Central Los Angeles. With immediate access to the 110 and 105 freeways and numerous metro lines Figueroa Flats are well located and central to everything near Downtown LA, Inglewood, Hawthorne and Gardena.The 10,400 square foot two story building sits on .35 acres and is comprised of (10) Three (3) bedroom Two (2) bathroom units. (10 x 3/2). Each unit is 1040 square feet. The building has benefitted from new exterior remodeling and paint, new roof, new fiberglass walkways and is looking better than ever. 6 of the 10 units are renovated and achieving market rents. Income is strong with only a 13% upside to rents, much of which will be achieved in November 2024. The building is NOT subject to Los Angeles RSO meaning the owner can raise rents 8.8% annually (CPI+5% currently). There is room to add ADUs on the property to increase rental income. There is an assumable $1,453,936 mortgage at 3.29% interest fixed until October 2030. A down payment of approximately $3,039,000 is required and yields a cash on cash return of 7.69% on current rents and 8.19% after November 2024.
Facts & Features
MLS® # | 24377341 |
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Price | $4,489,000 |
Bedrooms | 3 |
Bathrooms | 2.00 |
Square Footage | 10,400 |
Lot Size | 15,231 |
Year Built | 1993 |
Type | Residential Income |
Status | Active |
# Of Units | 10 |
Community Information
Address | 10705 Figueroa Street |
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Area | C36 - Metropolitan Southwest |
City | Los Angeles |
County | Los Angeles |
Zip Code | 90061 |
Amenities
Parking Spaces | 14 |
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View | City Lights |
Is Waterfront | No |
Has Pool | No |
Interior
Appliances | Disposal |
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Heating | Wall Furnace |
Cooling | None |
Has Basement | No |
Fireplace | No |
# of Stories | 2 |
Stories | Two |
Additional Information
Date Listed | April 7th, 2024 |
---|---|
Days on Market | 33 |
Zoning | LAC2 |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Sky Minor |
---|---|
Office | Sky Minor, Broker |