10412 S Figueroa Street, Los Angeles, CA 90003 (MLS # 25583555)

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PRICE $3,078,000 BEDS 19 BATHS 19 HOME SIZE 5,295 sqft LOT SIZE 5,676 sqft Request More Info Schedule a Showing

We are pleased to present 10412 S. Figueroa Street, a nineteen-unit multifamily investment opportunity located in the Vermont Vista neighborhood of South Los Angeles. This fully renovated vacant asset offers potential investors with a variety of different investment strategies to maximize cash flow in a dense and high rental demand submarket of South Los Angeles. With strong potential income, historically low vacancy rate in the area, and excellent long-term fundamentals, the property presents a compelling opportunity for yield seeking investors. Originally constructed in 1960, the property consists of thirteen bachelor units, five studio units, and one one-bedroom/one-bathroom unit. The property is master-metered for gas and water and individually metered for electricity. This property has been completely gutted and rebuilt due to a previous fire and benefits from a newer roof, plumbing, and electrical system. Residents benefit from secure, gated access and plenty of parking in the rear of the property. 10412 S. Figueroa offers significant development potential. Under SB 1211, an investor could explore the possibility of developing eight ADUs to maximize the lot's potential. Situated just four blocks from the nearest on- and off-ramps to the 110 Freeway, the property provides excellent regional access to Downtown Los Angeles, LAX, and the South Bay. With high rental demand and a shortage of affordable housing options, 10412 S. Figueroa is ideally positioned to deliver both near-term and long-term returns. The property is subject to the Los Angeles Rent Stabilization Ordinance (RSO).