5
See all 5 photos
$2,225,000
Est. payment /mo
16 BD
16 BA
9,760 SqFt
New
10507 S Figueroa ST Los Angeles, CA 90003
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UPDATED:
01/17/2025 01:41 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,760 sqft
Price per Sqft $227
MLS Listing ID 25484617
Bedrooms 16
HOA Y/N No
Year Built 1956
Lot Size 10,432 Sqft
Property Description
Introducing, for the first time on market in over 20 years, the opportunity to purchase 10507 and 10511 S Figueroa Street. This investment opportunity consists of 16 one bedroom + one bath units and is priced to sell at only $139,000/unit and a 9.75 GRM at current numbers. Tenants enjoy onsite parking and a close proximity to the 110 and 105 freeways. 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 a significant upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historically low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,528 for 3-bedroom units, $2,748 for 2-bedroom units, $2,172 for 1-bedroom units, and $1,920 for studio units.
Location
State CA
County Los Angeles
Area C36 - Metropolitan Southwest
Zoning LAC2
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 16
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6061025026
Special Listing Condition Standard
Listed by Enrique Viramontes • Remax Commercial and Investment Realty