4701 S Figueroa ST, Los Angeles, CA 90037
4701 S Figueroa ST, Los Angeles, CA 90037
4701 S Figueroa ST, Los Angeles, CA 90037
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Lucio Real Estate Group

Lucio Real Estate Group

+1(805) 512-0065
$795,000
Est. payment /mo
8 Beds
5 Baths
2,911 SqFt
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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 Locations

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Lucio Real Estate Group
Lucio Real Estate Group

Broker Associate License ID: 01893011

+1(805) 512-0065

www.LucioRealEstate.com

1000 Town Center Dr #300, Oxnard, CA 93036, USA

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4701 S Figueroa ST

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