1053 Figueroa Terrace

Los Angeles, CA 90012

$2,380,000
Price
13
Beds
10
Baths
7,658 Sq. Ft.
$311 / Sq. Ft.
7,658
Sq. Ft.
$311
per Sq. Ft.

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 and Silverlake areas of Los Angeles,and positioned strategically and conveniently near the #2, #5, #134,#110,e freeways,& rapid transit including the Gold Line and bus routes. It is situated in a trendy and up-and-coming strong rental market amidst DTLA, Silverlake,Dodger Stadium,Echo Park and the Financial...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 and Silverlake areas of Los Angeles,and positioned strategically and conveniently near the #2, #5, #134,#110,e freeways,& rapid transit including the Gold Line and bus routes. It is situated in a trendy and up-and-coming strong rental market amidst DTLA, Silverlake,Dodger Stadium,Echo Park and 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 drywalls & 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, and separate metering for gas and electricity utilities, ensuring convenience and efficiency. All 4 units are occupied by long-term tenants on month to month leases. Rent comparable reports indicate a positive upside and added investment potential. Property is not under city’s Rent Stabilization Ordinance (RSO), but subject to State Rent Control AB1482 and Just Cause Ordinance (JCO). Buyer to investigate, seller makes no guarantees and no warranties. Ample parking includes 3 covered spaces and 5 open parking spaces. Residents benefit from an array of culinary delights, cultural experiences, and 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.
  1. Listed by YAN CHOW • DRE #00778558 • Brokerage DRE #01379606 • RE/MAX PREMIER/SANMARINO • 626-807-6800
  2. Listed by Pauline Cheng • DRE #00993691 • Brokerage DRE #01379606 • Re/Max Premier Prop Arcadia

Property Details for 1053 Figueroa Terrace

Architectural Style
Custom Built
View
City Lights, Neighborhood
Parking Spaces Total
10
Private Pool
No
Cooling Type
Other/Remarks
Total Units
5.0
Building Type
Attached
Lot Size Source
Assessor

Location

Listing Courtesy of RE/MAX PREMIER/SANMARINO, YAN CHOW, DRE #00778558; Re/Max Premier Prop Arcadia, Pauline Cheng, DRE #00993691
Add your commute
LISTING UPDATED: 06/10/2024 07:02 AM

Property Details for 1053 Figueroa Terrace

StatusActive
MLS #WS24109540
Days on Market42
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1992
CountyLos Angeles County

Location

Listing Courtesy of RE/MAX PREMIER/SANMARINO, YAN CHOW, DRE #00778558; Re/Max Premier Prop Arcadia, Pauline Cheng, DRE #00993691
Add your commute

Building Information for 1053 Figueroa Terrace

Building/Complex1053 Figueroa TerFloor-Stories3Residences-Pet Policy-Year Built1992Building Size-

Payment Calculator

$14,215 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,989

Property Taxes

$1,226

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1053 Figueroa Terrace

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas, Telephone
Income / Expense / Tax Details
Income Details
  • Gross Income: $137,040
  • Gross Scheduled Income: $137,040
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $132,929
  • Net Operating Income: $99,717
  • Gross Multiplier: 17.37
  • Cap Rate: 4.19
Expense Details
  • Operating Expense: $33,212
  • Electric Expense: $800
  • Insurance Expense: $3,500
  • Maintenance Expense: $6,000
  • Professional Management Expense: $0
  • Other Expense: $5,000
  • Other Expense Description: utilitie
  • Trash Expense: $1,600
  • Water Sewer Expense: $2,600
  • Supplies Expense: $1,500
  • Total Expenses: $33,212
Tax / Assessment Info
  • Tax Tract Number: 0000
  • Tax Census Tract: 1977.00
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 25
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Buyer to Assume, Buyer to Verify, Unknown
  • Community Features: Sidewalks, Street Lights
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Free-Standing Range, Disposal, Water Heater
  • Equipment: Dishwasher, Inside
  • Interior Features: Balcony, Living Room Balcony, Storage
  • Room Type: Bonus Room, Den, Jack & Jill, Kitchen, Laundry, Living Room, Primary Suite, Recreation, See Remarks, Walk-In Closet
  • Bedroom Features: WalkInCloset
  • Laundry: Yes
  • Laundry Features: Inside
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: See Remarks
  • Heating Type: Central, Combination, Wall
  • Heating: Central, Combination, Wall Furnace
  • Heat Equipment: Combination Heating
  • Flooring: Carpet, Laminate, Tile, Vinyl
Exterior Features
  • Security Features: Carbon Monoxide Detector(s), Smoke Detector(s), Window Bars
  • Security: Security Bars
  • Construction Materials: Drywall Walls
  • Exterior Features: Rain Gutters
  • Entry Location: front
  • View Description: City Lights
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Lot 6500-9999, Rectangular Lot, No Landscaping
  • Direction Faces: South
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Available, Natural Gas Connected, Sewer Connected, Water Available
  • Electric: Electricity Available, Natural Gas Connected, Sewer Connected, Water Available
  • Water Source: Public
Parking Info
  • Garage Spaces: 2
  • Parking: Yes
  • Parking Garage: Assigned, Carport, Direct Entrance, Garage, Garage - 1 Car, Parking Space
  • Uncovered Spaces: 5
  • Open Other Spaces Total: 5
  • Parking Garage Spaces: 2
  • Carport Spaces: 3
  • Parking Features: Assigned, Carport, Attached Carport, Detached Carport, Covered, Direct Garage Access, Concrete, Paved, Garage, Garage Faces Front, Garage - Single Door, On Site, Parking Space
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $4,800
  • Unit Type Pro Forma: 4800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,950
  • Unit Type Total Rent: $1,950
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,335
  • Unit Type Total Rent: $1,335
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,385
  • Unit Type Total Rent: $1,385
  • Unit Type Pro Forma: 2500
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,950
  • Unit Type Total Rent: $1,950
  • Unit Type Pro Forma: 3500
  • Unit Type Type: 5
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 0

Property History for 1053 Figueroa Terrace

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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$520,539Additions$598,865Total$1,119,404
Tax Record2023$14,712 ($1,226 / 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 7
Public - 9 to 12
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Castelar Street Elementary School
PublicK to 7

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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

1053 Figueroa Terrace is a multi-family home for sale in Los Angeles, CA 90012. This property was listed for sale on June 1, 2024 by RE/MAX PREMIER/SANMARINO, it's currently listed at $2,380,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Castelar Street Elementary School, Edward R. Roybal Learning Center and Belmont Senior High School. 1053 Figueroa Terrace is a 13-bed, 10-bath, 7,658 sqft multi-family home built in 1992.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX PREMIER/SANMARINO, YAN CHOW, DRE #00778558; Re/Max Premier Prop Arcadia, Pauline Cheng, DRE #00993691

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.