Homes for sale - 8307 S Figueroa ST, Los Angeles, CA 90003

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Louis DiGonzini

ldigonzini@thedigonzinigroup.com +1(949) 922-8420

$ 2,250,000

Est. payment | -/mo

18 Beds

10 Baths

7,584 SqFt

Save

$ 2,250,000

Est. payment | -/mo

Save

18 Beds

10 Baths

7,584 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,584 sqft

Price per Sqft $296

MLS Listing ID 24440387

Bedrooms 18

HOA Y/N No

Year Built 1991

Lot Size 7,501 Sqft

Property Description

We are pleased to present a rare non-RSO investment opportunity with the sale of 8307 S. Figueroa Street, a 9-unit multifamily property nestled in the Vermont Knolls neighborhood of South Los Angeles. Constructed in 1991, this newly painted three-story building offers an expansive 7,584 square feet of rentable space stands on a generous 7,499 square-foot lot zoned LAC2-1VL-CPIO as well as a Tier 2 TOC Bonus. 8307 S. Figueroa features a unit mix of exclusively 2-bedroom units, including eight 2-bedroom/1-bathroom units and one 2-bedroom/1.5-bathroom unit. The property is 100% occupied with an average rent of $2,154 per unit and there is a notable rental upside potential of approximately 25%. Investors will benefit from the ability to raise rents 5% + CPI annually, which is currently 8.9% and capped at 10%. Security and convenience are paramount, with features such as each unit benefiting from individual water heaters and separate metering for gas and electricity, gated controlled access, and an on-site parking lot with 18 dedicated spaces that are exempt from earthquake & seismic retrofitting. For additional income streams, an astute investor can explore converting the parking area into multiple ADU's using SB 1211 (Buyer to verify). This property offers an excellent investment opportunity in a vibrant and densely populated submarket of South Los Angeles, where demand for rental units remains exceptionally high. Prospective buyers are advised to confirm all building records and data to ensure accuracy. Strategically located just north of Manchester Avenue and east of South Vermont Avenue, the property enjoys seamless connectivity to the 10 and 110 Freeways, facilitating convenient access to all corners of Greater Los Angeles. Tenants are also within a short distance to multiple bus stops along Figueroa St. and Manchester Blvd.

Location

State CA

County Los Angeles

Area C36 - Metropolitan Southwest

Zoning LAC2

Interior

Heating Wall Furnace

Fireplace No

Exterior

Parking Features Assigned, Covered, Garage, Gated, Community Structure, Tandem

Total Parking Spaces 18

Building

Story 3

Entry Level Three Or More

Level or Stories Three Or More

New Construction No

Others

Senior Community No

Tax ID 6032020002

Special Listing Condition Standard

Listed by Sevak Keshishian • Marcus & Millichap

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(949) 922-8420

ldigonzini@thedigonzinigroup.com

260 Bakerstreet East Suite #200, Costa Mesa, California, 92626, USA

8307 S Figueroa ST Los Angeles, CA 90003