Casa Figueroa

Los Angeles, CA 9006112722 S Figueroa St.

Property Type: Multifamily
For Sale

Details

  • Price: $1,800,000
  • Cap Rate: 4.53%
  • GRM: 13.11
  • Cost per SF: $192.80
  • Cost per unit: $200,000
  • Year Built: 1939
  • Square Footage: 9,336
  • Lot Size: 12,090 SF
  • Units: 9
  • No. Stories: 2
  • Parking: 13
  • Transaction Type: For Sale
  • Property Type: Multifamily
  • Zoning: LAC2
  • Building Class: C
  • APN/Parcel ID: 6132-019-049

Property Description

Casa Figueroa is a multifamily asset totaling 9 units located at 12722 S Figueroa St. Los Angeles, CA 90061. This spacious 9-unit apartment building was built in 1939. The apartment building is 2 stories and offers 1 single unit, 2 one-bedroom units, 5 two-bedroom/one-bath units, and 1 three-bedroom/two-bath unit. The building construction is of wood frame with a pitched roof and painted stucco exterior.

The total building square feet is ±9,336 on a large ±12,090 square foot lot zoned LAC2. This investment opportunity presents an ideal income property for an investor looking to acquire a value-add asset with significant rental upside potential.

Common area amenities include a laundry room and plenty of on-site parking. Aesthetically, the property grounds and building are reasonably kept and maintained.

The building has gated entry from both Figueroa St. as well as the rear alley.

12722 S Figueroa St is located in South Los Angeles, a highly urbanized community within Los Angeles County in a community among other apartment buildings and retail stores on the main thoroughfare. It is roughly 15 minutes driving due south of downtown LA. Nearby destinations include Athens Park which is approximately a half mile away for residents to enjoy some recreation time .

The property itself is walking distance to many stores and restaurants. The property is also just minutes driving from the 105 and 110 freeways.

Property Highlights

  • ±39% rental upside
  • Excellent unit mix
  • Spacious units
  • Attracting financing
  • Gated entry from street & alley
  • Value-add opportunity
  • Strong rental market
  • Central location
  • Excellent freeway access

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