10974 S Figueroa St - Apartments FOR SALE


Los Angeles, CA 90061- South Central LA
$1,595,000 USD
310-525-3711
10974 S Figueroa St, Los Angeles, CA for Sale
$1,595,000 USD
Apartments - FOR SALE
1/15
null | 7.38% Cap Rate

10974 S Figueroa St
Los Angeles, CA 90061
South Central LA


HIGHLIGHTS

  • Unit Mix - six 1-bedroom/1-bath units and four 2-bedroom/1-bath units, and appealing to a broad renter base and supporting stable occupancy.
  • Immediate Upside - Property currently has three vacant units, consisting of one 1-bedroom/ 1-bath unit and two 2-bedroom/1-bath units.
  • Recent upgrades include newer exterior paint, updated lighting, and new building and unit identification, which enhancing curb appeal and safety.
  • Onsite laundry facility for tenant convenience and retention, as well as additional income.
  • The property offers on-site ample secure gated parking, a valuable amenity in a dense Los Angeles submarket that supports tenant retention.
  • Each unit is separately metered for gas and electricity, allowing for efficient utility management and improved operating expense control.

OVERVIEW

10974 S. Figueroa Street, Los Angeles, CA 90061 presents a 10-unit multifamily investment opportunity located on a corner parcel in a strong rental corridor of Los Angeles. Constructed in 1958, the property consists of six (6) 1-bedroom / 1-bathroom units and four (4) 2-bedroom / 1-bathroom units, offering a desirable and balanced unit mix that appeals to a broad tenant base. The building contains approximately 5,374 rentable square feet and sits on a 6,783 square foot lot. The property is currently not fully stabilized, with three vacant units—one (1) 1-bedroom / 1-bathroom unit and two (2) 2-bedroom / 1-bathroom units—providing an immediate opportunity for a new owner to lease the units at market rents and increase the property’s income. Tenant convenience is supported by ample gated and secured on-site parking, an important amenity that enhances tenant appeal and retention. With its corner lot location, practical unit mix, and near-term income upside through leasing of the vacant units, the property presents a compelling value-add opportunity for investors seeking both current income and future growth in a Los Angeles rental market. Offering Memorandum attached to LoopNet listing. Please note the following: (1) Do not disturb tenants. (2) Interior inspections and access to books and records will be granted upon acceptance of an offer. (3) Submit proof of funds with all offers, which must be presented on a CAR Residential Income Purchase Agreement. Broker and agent do not guarantee the accuracy of square footage, lot size, development potential, or any other information regarding the condition or features of the property provided by the Seller or obtained from public records or other sources. Buyer is advised to independently verify all information and complete their own due diligence through physical inspections and consultation with appropriate professionals. Seller is a licensed real estate agent in the State of California.

FOR SALE DETAILS

PRICE

$1,595,000 USD

PRICE/SF

$297 USD /SF

# OF UNITS

55

PRICE/UNIT

$29,000

CAP RATE

7.38%

% LEASED

70%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

10 UNITS - 8.52 GRM & 7.38% CAP - STABILIZED

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,783 SF

ZONING

LARD1.5

APN/PARCEL ID

6075-032-032,6075-032-033

ASK ABOUT THIS PROPERTY

Sam GrayeliBRC Advisors - BH, Inc.More Info
310-525-3711

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Sam GrayeliBRC Advisors - BH, Inc.More Info
310-525-3711

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.