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$2,150,000
Est. payment /mo
7,584 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,584 sqft
Price per Sqft $283
MLS Listing ID CL25542775
HOA Y/N No
Year Built 1991
Lot Size 7,501 Sqft
Acres 0.17
Property Sub-Type Other
Property Description
8307 S. Figueroa Street-a rare, non-RSO 9-unit multifamily offering located in the high-demand Vermont Knolls neighborhood of South Los Angeles. Constructed in 1991 and newly painted, this three-story building spans 7,584 square feet of rentable space and sits on a 7,499 square-foot lot zoned LAC2-1VL-CPIO with a Tier 2 TOC designation. The unit mix consists entirely of spacious two-bedroom units, including eight -2 bed/1-bath and one 2-bed/1.5-bath layout. The property is 100% occupied, with an average rent of $2,154 per unit and approximately 25% upside potential. Investors benefit from favorable rent control regulations allowing annual increases of 5% + CPI (currently 8.9%, capped at 10%). Each unit is separately metered for gas and electricity and includes its own water heater, minimizing landlord expenses, which are limited to water, common-area electricity, and trash. The building features secure gated access and 18 covered parking spaces-two per unit-which are exempt from seismic retrofit requirements. Strategically positioned near the 10 and 110 Freeways and within proximity to theCrenshaw/LAX rail lines, the property offers exceptional accessibility to Downtown LA, Culver City, Santa Monica, and the South Bay.
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Heating Other
Fireplace No
Building
New Construction No
Others
Tax ID 6032020002
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Listed by Jacqueline Carroll • Compass
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