10507 South Figueroa Street

Los Angeles, CA 90003

$2,450,000
Price
16
Beds
16
Baths
9,760 Sq. Ft.
$251 / Sq. Ft.
9,760
Sq. Ft.
$251
per Sq. Ft.

Description

This property is available for purchase independently or as part of a 4 property, 118 unit portfolio. Introducing, for the first time on market in over 20 years, a unique opportunity to purchase this four multifamily property portfolio comprised of 118 units in the heart of Los Angeles. The collection includes four large properties that sit on a total of seven parcels and almost 100K sf of land. Each building ranges from 17 to 50 units and has plenty of onsite parking, independent meters for gas...This property is available for purchase independently or as part of a 4 property, 118 unit portfolio. Introducing, for the first time on market in over 20 years, a unique opportunity to purchase this four multifamily property portfolio comprised of 118 units in the heart of Los Angeles. The collection includes four large properties that sit on a total of seven parcels and almost 100K sf of land. Each building ranges from 17 to 50 units and has plenty of onsite parking, independent meters for gas and electricity, and various recent upgrades. 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 the 75% upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historical low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently at $3,915 for 3-bedroom units, $3,052 for 2-bedroom units, $2,407 for 1-bedroom units, and $2,132 for studio units. The properties are strategically located near access to major freeways, employment, entertainment, and transportation options. SoFi Stadium (LA Rams), the new Intuit Dome (LA Clippers), BMO Stadium (Angel City FC), Los Angeles International Airport, are all within minutes of any of the subject properties.
  1. Listed by Enrique Viramontes • DRE #01372010 • Brokerage DRE #01164364 • Remax Commercial and Investment Realty

Property Details for 10507 South Figueroa Street

Zoning
LAC2
Parcel Number
6061025026
Total Units
16.0
Living Area
9760
Source Living Area
Title Company
Area
Metropolitan Southwest (C36)
Vacancy Rate
1%
Lot Size Area
10432
LISTING UPDATED: 08/30/2024 12:01 AM

Property Details for 10507 South Figueroa Street

StatusActive
MLS #24-431041
Days on Market121
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1956
Lot Size0.24 AC / 10,432 SF
CountyLos Angeles County

Building Information for 10507 South Figueroa Street

Stories2Residences-Year Built1956Building Size-Lot Size0.24 AC / 10,432 SF

Property Information for 10507 South Figueroa Street

Community / Development
Community / Development
  • Number Of Units: 16
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $208,190
  • Net Operating Income: $104,483.00
  • Gross Income: $210,293
  • Cap Rate: 4.26%
  • Gross Rent Multiplier: $11.65
  • Total Annual Expense: 103707
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1195
  • Lot Size Square Feet: 10432
Parking Details
Parking Details
  • Parking Garage: Assigned
  • Total Parking: 3
  • Parking Features: Assigned
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Window Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-22-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,095.00
  • Unit Actual Rent: $17,524.00
  • Unit Projected Rent: $38,512.00
  • Like Units: 16
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $244,218.00
  • Assessed Improvement Percent: 71.08
  • Assessed Land Value: $99,385.00
  • Assessed Land Percent: 28.92
  • Assessed Total Value: $343,603.00

Property History for 10507 South Figueroa Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 10507 South Figueroa Street

Taxable ValueLand$101,372Additions$249,102Total$350,474
Tax Record2024$5,177 ($431 / month)
Home Facts
Total Finished SqFt4,880 SqFtAbove Grade Finished SqFt4,880 SqFtLot Size5,205 SqFtStyleMulti-Family Res (5+ Units)Year Built1956ZoningLAC2CountyLOS ANGELESAPN6061-025-026

Schools near 10507 South Figueroa Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Charter - 9 to 12
Public - K to 2
Rating
School
Distance
Figueroa Street Elementary School
PublicK to 5

Alain Leroy Locke College Prep Academy
Charter9 to 12

Washington Primary Center School
PublicK to 2

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

10507 South Figueroa Street is a multi-family home for sale in Los Angeles, CA 90003. This property was listed for sale on August 22, 2024 by Remax Commercial and Investment Realty, it's currently listed at $2,450,000. It has been on the market for a total of 121 days and was last sold on August 17, 2001. This listing's school district is Los Angeles Unified School District. Nearby schools include Figueroa Street Elementary School, Alliance College-Ready Middle Academy No. 4 and Alain Leroy Locke College Prep Academy. 10507 South Figueroa Street is a 16-bed, 16-bath, 9,760 sqft multi-family home built in 1956.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Remax Commercial and Investment Realty, Enrique Viramontes, DRE #01372010

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.