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Listing Agent: Sky Minor CalDRE: 01380933 - Sky Minor, Broker
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The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

10705 S Figueroa Street,  Los Angeles CA, 90061

(Active)
$4,489,000
|
10,400 sqft
|
MLS# 24377257

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Last Updated: 5/2/2024 12:00 AM
Description for 10705 S Figueroa Street Los Angeles, CA 90061
I am proud to present the Figueroa Flats, a ten unit apartment building located in South Central Los Angeles. With immediate access to the 110 and 105 freeways and numerous metro lines Figueroa Flats are well located and central to everything near Downtown LA, Inglewood, Hawthorne and Gardena. The 10,400 square foot two story building sits on .35 acres and is comprised of (10) Three (3) bedroom Two (2) bathroom units. (10 x 3/2). Each unit is 1040 square feet. The building has benefitted from new exterior remodeling and paint, new roof, new fiberglass walkways and is looking better than ever. 6 of the 10 units are renovated and achieving market rents. Income is strong with only a 13% upside to rents, much of which will be achieved in November 2024. The building is NOT subject to Los Angeles RSO meaning the owner can raise rents 8.8% annually (CPI+5% currently). There is room to add ADUs on the property to increase rental income. There is an assumable $1,453,936 mortgage at 3.29% interest fixed until October 2030. A down payment of approximately $3,039,000 is required and yields a cash on cash return of 7.69% on current rents and 8.19% after November 2024.
Price
$4,489,000
Los Angeles
10,400 (approx)
24377257
Active
Description
I am proud to present the Figueroa Flats, a ten unit apartment building located in South Central Los Angeles. With immediate access to the 110 and 105 freeways and numerous metro lines Figueroa Flats are well located and central to everything near Downtown LA, Inglewood, Hawthorne and Gardena. The 10,400 square foot two story building sits on .35 acres and is comprised of (10) Three (3) bedroom Two (2) bathroom units. (10 x 3/2). Each unit is 1040 square feet. The building has benefitted from new exterior remodeling and paint, new roof, new fiberglass walkways and is looking better than ever. 6 of the 10 units are renovated and achieving market rents. Income is strong with only a 13% upside to rents, much of which will be achieved in November 2024. The building is NOT subject to Los Angeles RSO meaning the owner can raise rents 8.8% annually (CPI+5% currently). There is room to add ADUs on the property to increase rental income. There is an assumable $1,453,936 mortgage at 3.29% interest fixed until October 2030. A down payment of approximately $3,039,000 is required and yields a cash on cash return of 7.69% on current rents and 8.19% after November 2024.
Listing Information
Property Type: Business Opportunities, 2 Story
0.35 Acres 10,400 (approx) 1993
2
Neighborhood
Room Information
None
Interior Features
Gated Community
Exterior / Lot Features
12 Parking Spaces, 0 Covered Parking Spaces,
LAC2
Community Features
Gated Community
Driving Directions
Figueroa at 108th
Financial Considerations
6061023030
Listing Price History

Los Angeles Real Estate

Los Angeles is located in California. Los Angeles, California 90061 has a population of 3,956,168.

The median household income in Los Angeles, California 90061 is $47,267. The median household income for the surrounding county is $73,262 compared to the national median of $66,222. The median age of people living in Los Angeles 90061 is 38 years.

Data provided below are primarily sourced from Public Records data.

Nearby Recent Sales (Sourced from Public Records)
Street Address City Beds Baths Sold Price Sold Date
No information is available for recently sold properties within this search.
Price History
Date Event Price Source
4/7/2024 Active $4,489,000  USD  MLS info
Tax History (Sourced from Public Records)
year Property Taxes Change Tax Assessment Change
2023 $32,070   USD 4.66% $2,496,960   USD 2.00%
2022 $30,643   USD 1.35% $2,448,000   USD 2.00%
2021 $30,235   USD 0.82% $2,400,000   USD -
2020 $29,988   USD 3.94% $2,400,000   USD 2.98%
2019 $28,850   USD 1.22% $2,330,496   USD 2.00%
Listing Agent: Sky Minor CalDRE: 01380933 - Sky Minor, Broker
crmls logo
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This content last refreshed on 5/2/2024 12:00 AM CST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.
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