8823 S Figueroa Street, Los Angeles, CA 90003
Property · 2 recorded sales since 2015
Sold September 2024
Listing Agent: Chase Simonton (DRE #01766871) · Listing Office: RE/MAX One · Contact: 818-366-3300 · Bought with: Chase Simonton · RE/MAX One · MLS #24412851 · Source: CRMLS
About this property
2003 CONSTRUCTION- NO LA RENT CONTROL | 2 VACANCIES! | LARGE 3 BED, 2.5 BATH TOWNHOUSE UNITS. This modern 4-unit apartment building was constructed in 2003, and has NO LA City Rent Control.Spanning a total building size of 5,424 sqft on a 6,214 sqft lot, each of the four townhouse-style units features three spacious bedrooms and two and a half bathrooms. Two of these units are currently vacant, offering immediate occupancy or rental potential. Each unit is allocated four parking spaces, including a two-car garage and a carport, totaling sixteen parking spaces for the entire property. The LAC2 zoning adds another layer of value to this versatile investment.This property boasts several modern conveniences, including central air conditioning, all copper plumbing, and a newer roof, ensuring long-term durability and tenant comfort. Each unit is separately metered for utilities, providing a hassle-free management experience. The gated entrance enhances security and privacy, while washer and dryer hookups in every unit add a layer of convenience for tenants.This property is especially attractive for Section 8 voucher holders, allowing savvy investors to command high rents. Currently, the property operates at a 6.68% Cap Rate and a 9.90 GRM, highlighting its strong investment potential. Don't miss out on this rare opportunity to own a well-maintained, high-potential property in a desirable area of South Los Angeles. Please do not disturb the tenants. Drive-by only.
Listing description from the September 2024 sale, as reported to CRMLS.
Sale history
