1053 Figueroa Terrace
$1,999,000
14
10
7,658
7,658
$261
Description
Presenting a rare opportunity to acquire this attractive 1992 custom-built and meticulously crafted,5 unit,city view apartment complex. Located adjacent to the iconic Chinatown, Echo Park & Silverlake areas of Los Angeles,& positioned strategically& conveniently near the #2,5,134,110,&101 freeways,& rapid transit including the Gold Line & bus routes. It is situated in a trendy & up-and-coming strong rental market amidst DTLA, Silverlake,Dodger Stadium,Echo Park & the Financial District neighborhoods...Presenting a rare opportunity to acquire this attractive 1992 custom-built and meticulously crafted,5 unit,city view apartment complex. Located adjacent to the iconic Chinatown, Echo Park & Silverlake areas of Los Angeles,& positioned strategically& conveniently near the #2,5,134,110,&101 freeways,& rapid transit including the Gold Line & bus routes. It is situated in a trendy & up-and-coming strong rental market amidst DTLA, Silverlake,Dodger Stadium,Echo Park & the Financial District neighborhoods with major employers including USC,Good Samaritan Hospital,Paramount Studios,& the Los Angeles Fashion and Arts Districts,& much more. This property offers an excellent opportunity for discerning homeowners or investors to secure a true value-added asset in a highly coveted locale. Comprising 3 stories with a total building size of 7,658 sq.ft. per assessor,all units are spacious & the apartment complex boasts a desirable unit mix including an OWNER unit of approx.2,641 sq.ft. (will be available upon close of escrow with new paint & carpet throughout) featuring a 3br,3.5bth townhome-style front unit with an office /den(could be used as a 4th bedroom),large recreation room, C/A, spacious laundry area, ample storage rooms,a 2-car attached garage. The outside laundry & storage rooms with best possibilities for ADU are utility ready with dry walls & windows. Buyer to Investigate feasibility, seller makes no guarantees and no warranties. The remaining 4 units are an ideal mix of two larger (over 1,100 sq. ft. ea) 3br,2bth U and two good-sized 2-br,1-bth U. Each unit boasts an excellent layout, individual water heaters, & separate metering for gas and electricity utilities, ensuring convenience & efficiency. Four units are occupied by tenants on month to month leases. Rent comparable reports indicate a positive upside & added investment potential. Property is not under city’s Rent Stabilization Ordinance (RSO), but subject to State Rent Control AB1482 & Just Cause Ordinance (JCO). Buyer to investigate, seller makes no guarantees & no warranties. Total 10 parking spaces,3 covered spaces, 5 open parking spaces & a 2 car garage. Great Owner user building. Residents benefit from an array of culinary delights, cultural experiences, & artistic exhibitions for investors,owner or professionals, further enriching the allure of this investment opportunity. Now is the time to seize this exceptional offering in one of Los Angeles’ most dynamic and sought-after neighborhoods.
Property Details for 1053 Figueroa Terrace
Architectural Style
Custom Built
ViewCity Lights, Neighborhood
Parking Spaces Total10
Private PoolNo
Cooling TypeOther/Remarks
Total Units5.0
Building TypeAttached
Lot Size SourceAssessor
LISTING UPDATED: 09/03/2024 09:41 AM
Property Details for 1053 Figueroa Terrace
Status | Active |
---|---|
MLS # | WS24109540 |
Days on Market | 141 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1992 |
County | Los Angeles County |
Building Information for 1053 Figueroa Terrace
Building/Complex1053 Figueroa TerFloor-Stories3Residences-Pet Policy-Year Built1992Building Size-
Property Information for 1053 Figueroa Terrace
Property History for 1053 Figueroa Terrace
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1053 Figueroa Terrace
Taxable ValueLand$530,949Additions$610,842Total$1,141,791
Tax Record2024$14,984 ($1,249 / month)
Home Facts
Total Finished SqFt7,658 SqFtAbove Grade Finished SqFt7,658 SqFtLot Size7,422 SqFtStyleMulti-Family Res (5+ Units)Year Built1992ZoningLARD1.5CountyLOS ANGELESAPN5406-022-015
Schools near 1053 Figueroa Terrace
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Castelar Street Elementary School PublicK to 8 | ||
Edward R. Roybal Learning Center Public9 to 12 | ||
Belmont Senior High School Public9 to 12 | ||
Miguel Contreras Learning Complex School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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