8115 South Figueroa Street

Los Angeles, CA 90003

$899,000
Price
7
Beds
5
Baths
2,248 Sq. Ft.
$400 / Sq. Ft.
2,248
Sq. Ft.
$400
per Sq. Ft.

Description

Fantastic development opportunity. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). ED1 Eligible. Continue to rent out the property or develop this 6501 Sq Ft lot. Zoned LAC2 , this TOC Tier 1. With a FAR of 2.75 the total buildable area can be 17,877 sq. ft. Buyer to Verify with city planning for accuracy of all information. Property consists of one building with 6 separate units. Units 2,3,4,5 and 6 are studios. Unit 1...Fantastic development opportunity. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). ED1 Eligible. Continue to rent out the property or develop this 6501 Sq Ft lot. Zoned LAC2 , this TOC Tier 1. With a FAR of 2.75 the total buildable area can be 17,877 sq. ft. Buyer to Verify with city planning for accuracy of all information. Property consists of one building with 6 separate units. Units 2,3,4,5 and 6 are studios. Unit 1 is a 2 bedroom / 1 bath and it was modified to a 3 bedroom / 1 bath without permits which is now rented on Airbnb 30day+ . The other 5 units are rented out on a month to month basis.
  1. Listed by Shamim Khorsand Mashhadi • DRE #02042990 • Brokerage DRE #01050989 • RE/MAX ESTATE PROPERTIES

Property Details for 8115 South Figueroa Street

Zoning
LAC2
Parcel Number
6032024006
Total Units
6.0
Living Area
2248
Source Living Area
Vendor Enhanced
Area
Metropolitan Southwest (C36)
Vacancy Rate
0
Lot Size Area
6501
LISTING UPDATED: 09/10/2024 10:34 PM

Property Details for 8115 South Figueroa Street

StatusActive
MLS #24-404581
Days on Market188
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1950
Lot Size0.15 AC / 6,501 SF
CountyLos Angeles County

Building Information for 8115 South Figueroa Street

Stories1Residences-Year Built1950Building Size-Lot Size0.15 AC / 6,501 SF

Property Information for 8115 South Figueroa Street

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 1
  • Number Of Buildings: 1
  • Type Of Units: res
  • Property Condition: Additions/Alter
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash, Cash To New Loan
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $73,200
  • Net Operating Income: $52,200.00
  • Gross Income: $73,200
  • Gross Rent Multiplier: $13.00
  • Total Annual Expense: 21000
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1492
  • Lot Size Square Feet: 6501
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 6
  • Open Other Spaces Total: 6
  • Parking Features: Driveway
Interior Features
Interior Features
  • Levels: One
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven, Refrigerator
  • Common Walls: Detached/No Common Walls
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 06-17-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $800.00
  • Unit Actual Rent: $800.00
  • Unit Projected Rent: $800.00
  • Like Units: 5
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,100.00
  • Unit Actual Rent: $2,100.00
  • Unit Projected Rent: $2,100.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $164,045.00
  • Assessed Improvement Percent: 25.04
  • Assessed Land Value: $491,045.00
  • Assessed Land Percent: 74.96
  • Assessed Total Value: $655,090.00

Property History for 8115 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 8115 South Figueroa Street

Taxable ValueLand$561,000Additions$240,300Total$801,300
Tax Record2024$10,577 ($881 / month)
Home Facts
Total Finished SqFt2,248 SqFtAbove Grade Finished SqFt2,248 SqFtLot Size6,501 SqFtStyleMulti-Family Res (5+ Units)Year Built1950ZoningLAC2CountyLOS ANGELESAPN6032-024-006

Schools near 8115 South Figueroa Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Charter - K to 4
Rating
School
Distance
Loren Miller Elementary School
PublicK to 6

Mary Mcleod Bethune Middle School
Public7 to 8

KIPP Empower Academy
CharterK to 4

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.

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8115 South Figueroa Street is a multi-family home for sale in Los Angeles, CA 90003. This property was listed for sale on June 16, 2024 by RE/MAX ESTATE PROPERTIES, it's currently listed at $899,000. It has been on the market for a total of 188 days and was last sold on February 7, 2023. This listing's school district is Los Angeles Unified School District. Nearby schools include Loren Miller Elementary School, Mary Mcleod Bethune Middle School and Academy For Multiligual Arts And Science At Mervyn M. Dymally High. 8115 South Figueroa Street is a 7-bed, 5-bath, 2,248 sqft multi-family home built in 1950.

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 RE/MAX ESTATE PROPERTIES, Shamim Khorsand Mashhadi, DRE #02042990

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.