Located on South Figueroa Street in South Los Angeles, this cash-flowing covered land opportunity is an amazing opportunity for a developer seeking in-place cash flow while seeking entitlements. Currently, the property contains (6) – 2 bed / 1 bath units with a strong cap rate of 6.22% in-place. As a development site, there is potential to develop a 100% affordable apartment building containing 157 units (buyer to verify). The identical neighboring property received approvals for 157 units and sold in September of 2023 for $3,910,039.
Property Details
Price:
$1,825,000
MLS #:
P1-18776
Status:
Active
Baths:
0
Address:
7404 S Figueroa Street
Type:
Residential Income
City:
Los Angeles
Listed Date:
Aug 1, 2024
State:
CA
ZIP:
90003
Lot Size:
11,600 sqft / 0.27 acres (approx)
Year Built:
1923
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Schools
Interior
Appliances
None
Cooling
Wall/ Window Unit(s)
Fireplace Features
None
Heating
Wall Furnace
Exterior
Community Features
Sidewalks
Fencing
Wrought Iron
Garage Spaces
0.00
Lot Features
Sprinklers None
Parking Features
Driveway
Parking Spots
6.00
Pool Features
None
Spa Features
None
View
None
Financial
Association Fee
0.00
Map
Community
- Address7404 S Figueroa Street Los Angeles CA
- CityLos Angeles
- CountyLos Angeles
- Zip Code90003
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Courtesy of Keller Williams Realty. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.7404 S Figueroa Street
Los Angeles, CA
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