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10974 S Figueroa St
Los Angeles, CA 90061
10 UNITS - 8.52 GRM & 7.38% CAP - STABILIZED · Multifamily Property For Sale
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55 Units
Investment Highlights
- Unit Mix - six 1-bedroom/1-bath units and four 2-bedroom/1-bath units, and appealing to a broad renter base and supporting stable occupancy.
- Recent upgrades include newer exterior paint, updated lighting, and new building and unit identification, which enhancing curb appeal and safety.
- The property offers on-site ample secure gated parking, a valuable amenity in a dense Los Angeles submarket that supports tenant retention.
- Immediate Upside - Property currently has three vacant units, consisting of one 1-bedroom/ 1-bath unit and two 2-bedroom/1-bath units.
- Onsite laundry facility for tenant convenience and retention, as well as additional income.
- Each unit is separately metered for gas and electricity, allowing for efficient utility management and improved operating expense control.
Executive Summary
10974 S. Figueroa Street, Los Angeles, CA 90061 presents a 10-unit multifamily investment opportunity located on a corner parcel in a strong rental corridor of Los Angeles. Constructed in 1958, the property consists of six (6) 1-bedroom / 1-bathroom units and four (4) 2-bedroom / 1-bathroom units, offering a desirable and balanced unit mix that appeals to a broad tenant base. The building contains approximately 5,374 rentable square feet and sits on a 6,783 square foot lot. The property is currently not fully stabilized,
with three vacant units—one (1) 1-bedroom / 1-bathroom unit and two (2) 2-bedroom / 1-bathroom units—providing an immediate opportunity for a new owner to lease the units at market rents and increase the property’s income. Tenant convenience is supported by ample gated and secured on-site parking, an important amenity that enhances tenant appeal and retention. With its corner lot location, practical unit mix, and near-term income upside through leasing of the vacant units, the property presents a compelling value-add opportunity for investors seeking both current income and future growth in a Los Angeles rental market.
Offering Memorandum attached to LoopNet listing. Please note the following: (1) Do not disturb tenants. (2) Interior inspections and access to books and records will be granted upon acceptance of an offer. (3) Submit proof of funds with all offers, which must be presented on a CAR Residential Income Purchase Agreement. Broker and agent do not guarantee the accuracy of square footage, lot size, development potential, or any other information regarding the condition or features of the property provided by the Seller or obtained from public records or other sources. Buyer is advised to independently verify all information and complete their own due diligence through physical inspections and consultation with appropriate professionals. Seller is a licensed real estate agent in the State of California.
with three vacant units—one (1) 1-bedroom / 1-bathroom unit and two (2) 2-bedroom / 1-bathroom units—providing an immediate opportunity for a new owner to lease the units at market rents and increase the property’s income. Tenant convenience is supported by ample gated and secured on-site parking, an important amenity that enhances tenant appeal and retention. With its corner lot location, practical unit mix, and near-term income upside through leasing of the vacant units, the property presents a compelling value-add opportunity for investors seeking both current income and future growth in a Los Angeles rental market.
Offering Memorandum attached to LoopNet listing. Please note the following: (1) Do not disturb tenants. (2) Interior inspections and access to books and records will be granted upon acceptance of an offer. (3) Submit proof of funds with all offers, which must be presented on a CAR Residential Income Purchase Agreement. Broker and agent do not guarantee the accuracy of square footage, lot size, development potential, or any other information regarding the condition or features of the property provided by the Seller or obtained from public records or other sources. Buyer is advised to independently verify all information and complete their own due diligence through physical inspections and consultation with appropriate professionals. Seller is a licensed real estate agent in the State of California.
Property Facts
| Price Per Unit | $39,644 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 7.38% | Building Size | 5,374 SF |
| Gross Rent Multiplier | 8.52 | Average Occupancy | 70% |
| No. Units | 55 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 2.05/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | LARD1.5 | ||
| Price Per Unit | $39,644 CAD |
| Sale Type | Investment |
| Cap Rate | 7.38% |
| Gross Rent Multiplier | 8.52 |
| No. Units | 55 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,374 SF |
| Average Occupancy | 70% |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 2.05/1,000 SF |
| Zoning | LARD1.5 |
Amenities
Unit Amenities
- Hardwood Floors
- Stainless Steel Appliances
- Window Coverings
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | $2,040 CAD | - |
| 1+1 | 43 | $1,827 CAD | - |
Property Taxes
| Parcel Numbers | Improvements Assessment | $458,716 CAD | |
| Land Assessment | $2,611,735 CAD | Total Assessment | $3,070,452 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$2,611,735 CAD
Improvements Assessment
$458,716 CAD
Total Assessment
$3,070,452 CAD
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