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 $2,172 for 1-bedroom units.
Property Details
Price:
$2,225,000
MLS #:
25484617
Status:
Active
Baths:
0
Address:
10507 S Figueroa Street
Type:
Residential Income
Neighborhood:
c36metropolitansouthwest
City:
Los Angeles
Listed Date:
Jan 16, 2025
State:
CA
ZIP:
90003
Lot Size:
10,432 sqft / 0.24 acres (approx)
Year Built:
1956
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Schools
Interior
Cooling
Wall/ Window Unit(s)
Heating
Wall Furnace
Exterior
Parking Features
Assigned
Parking Spots
16.00
Stories Total
2
Financial
Map
Community
- Address10507 S Figueroa Street Los Angeles CA
- AreaC36 – Metropolitan Southwest
- CityLos Angeles
- CountyLos Angeles
- Zip Code90003
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10507 S Figueroa Street
Los Angeles, CA
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