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$795,000
Est. payment /mo
8 Beds
5 Baths
2,911 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,911 sqft
Price per Sqft $273
MLS Listing ID 26873937
Bedrooms 8
HOA Y/N No
Year Built 1919
Lot Size 10,759 Sqft
Property Description
We are proud to present 4701 & 4709 S Figueroa St (MUST BE SOLD TOGETHER, with a combined price of $1.995M), an 11-unit multifamily community, offered at an 8.15GRM and an 8.29% cap rate on current rents. Offered with an attractive, in-place high yield on a fully occupied property, this opportunity consists of an adjacent 3-unit and 8-unit property with two separate parcels, allowing for multiple exit strategies for the next owner, including but not limited to, acquiring both properties together, selling the 3-unit separately for a premium and further reducing your cost basis on the 8-unit property and continuing to drive returns. Collectively, the 11 units offer a total of 7,375 rentable square feet with a unit mix of (2)3BD+1BA, (1)2BD+2BA,(2)2BD+1BA and (6)1BD+1BA units which sit on a combined 16,218 square foot LAC2 zoned double corner lot with a total of 13 uncovered onsite parking spaces which can continue to serve as parking and/or for future ADU(s). The 3-unit consists of two separate, single-story structures built in 1919totaling 2,911 rentable square feet with the (2)3BD+1BA and (1)2BD+2BA units where as the 8-unit property consists of a single, two-story structure built in 1926 with 4,464 rentable square feet with the (2)2BD+1BA and (6)1BD+1BA units. As a long-term development site, by utilizing TOC, one can potentially develop up to 66 units, however, there is the ability to utilize the 100% affordable ED1 development standards and achieve 80-90 units on-site. PROPERTIES MUST BE SOLD TOGETHER.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAC2
Interior
Fireplace No
Exterior
Parking Features Driveway, Garage, Tandem
Total Parking Spaces 3
Building
Story 1
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5018027011
Special Listing Condition Standard
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Listed by Casey Lins Kidder Mathews of California, Inc. #01902650
NEARBY SCHOOL & BUSINESS
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