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$ 2,225,000
Est. payment /mo
Active
10507 S Figueroa Street Los Angeles, CA 90003
9,760 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 9,760 sqft
Price per Sqft $227
MLS Listing ID CL25484617
HOA Y/N No
Year Built 1956
Lot Size 10,432 Sqft
Acres 0.24
Property Sub-Type Other
Property Description
Introducing, for the first time on market in over 20 years, the opportunity to purchase 10507 and 10511 S Figueroa Street. This investment opportunity consists of 16 one bedroom + one bath units and is priced to sell at only $139,000/unit and a 9.75 GRM at current numbers. Tenants enjoy onsite parking and a close proximity to the 110 and 105 freeways. 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 a significant upside in rental income over the holding period. South Los Angeles is one of the most resilient markets in the region with historically low vacancy rates and consistent rent growth over the same period. Section 8 vouchers are currently $2,172 for 1-bedroom units.
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Building
New Construction No
Others
Tax ID 6061025026
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Listed by Enrique Viramontes • Remax Commercial and Investment Realty