8307 S Figueroa Street, Los Angeles, CA 90003
-
Listed Price :
$2,250,000
-
Beds :
18
-
Baths :
10
-
Property Size :
7,584 sqft
-
Year Built :
1991
Property Description
We are pleased to present a rare non-RSO investment opportunity with the sale of 8307 S. Figueroa Street, a 9-unit multifamily property nestled in the Vermont Knolls neighborhood of South Los Angeles. Constructed in 1991, this newly painted three-story building offers an expansive 7,584 square feet of rentable space stands on a generous 7,499 square-foot lot zoned LAC2-1VL-CPIO as well as a Tier 2 TOC Bonus. 8307 S. Figueroa features a unit mix of exclusively 2-bedroom units, including eight 2-bedroom/1-bathroom units and one 2-bedroom/1.5-bathroom unit. With an average rent of $2,089 per unit, there is a notable rental upside potential of approximately 34%. Investors will benefit from the ability to raise rents 5% + CPI annually, which is currently 8.9% and capped at 10%. Security and convenience are paramount, with features such as each unit benefiting from individual water heaters and separate metering for gas and electricity, gated controlled access, and an on-site parking lot with 18 dedicated spaces that are exempt from earthquake & seismic retrofitting. This property offers an excellent investment opportunity in a vibrant and densely populated submarket of South Los Angeles, where demand for rental units remains exceptionally high. Prospective buyers are advised to confirm all building records and data to ensure accuracy. Strategically located just north of Manchester Avenue and east of South Vermont Avenue, the property enjoys seamless connectivity to the 10 and 110 Freeways, facilitating convenient access to all corners of Greater Los Angeles. Tenants are also within a short distance to multiple bus stops along Figueroa St. and Manchester Blvd.
Interior Features
| Bedroom Information |
| Bedrooms |
18 |
| Bathroom Information |
| Bathrooms |
10 |
Listing Information
| Address |
8307 S Figueroa Street |
| City |
Los Angeles |
| State |
CA |
| Zip |
90003 |
| County |
Los Angeles |
| Listing Agent |
Sevak Keshishian DRE #01887505 |
| Courtesy Of |
Marcus & Millichap |
| List Price |
$2,250,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
7,584 |
| Lot Size |
7,499 |
| Year Built |
1991 |
Listing information courtesy of: Sevak Keshishian, Marcus & Millichap. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 16th, 2024 at 11:12 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
