10507 S Figueroa Street, Los Angeles, CA 90003
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Listed Price :
$2,225,000
-
Beds :
16
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Baths :
16
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Property Size :
9,760 sqft
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Year Built :
1956
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 at $3,528 for 3-bedroom units, $2,748 for 2-bedroom units, $2,172 for 1-bedroom units, and $1,920 for studio units.
Interior Features
| Bedroom Information |
| Bedrooms |
16 |
| Bathroom Information |
| Bathrooms |
16 |
| Interior Information |
| Cooling Type |
Wall/Window Unit(s) |
Listing Information
| Address |
10507 S Figueroa Street |
| City |
Los Angeles |
| State |
CA |
| Zip |
90003 |
| County |
Los Angeles |
| Listing Agent |
Enrique Viramontes DRE #01372010 |
| Courtesy Of |
Remax Commercial and Investment Realty |
| List Price |
$2,225,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
9,760 |
| Lot Size |
10,432 |
| Year Built |
1956 |
Listing information courtesy of: Enrique Viramontes, Remax Commercial and Investment Realty. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 17th, 2025 at 1:41 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
