10705 South Figueroa Street

Los Angeles, CA 90044

$4,489,000
Price
30
Beds
20
Baths
10,400 Sq. Ft.
$432 / Sq. Ft.
10,400
Sq. Ft.
$432
per Sq. Ft.

Description

I am proud to present the Figueroa Flats, a ten unit apartment building located in South Central Los Angeles. With immediate access to the 110 and 105 freeways and numerous metro lines Figueroa Flats are well located and central to everything near Downtown LA, Inglewood, Hawthorne and Gardena. The 10,400 square foot two story building sits on .35 acres and is comprised of (10) Three (3) bedroom Two (2) bathroom units. (10 x 3/2). Each unit is 1040 square feet. The building has benefitted from new...I am proud to present the Figueroa Flats, a ten unit apartment building located in South Central Los Angeles. With immediate access to the 110 and 105 freeways and numerous metro lines Figueroa Flats are well located and central to everything near Downtown LA, Inglewood, Hawthorne and Gardena. The 10,400 square foot two story building sits on .35 acres and is comprised of (10) Three (3) bedroom Two (2) bathroom units. (10 x 3/2). Each unit is 1040 square feet. The building has benefitted from new exterior remodeling and paint, new roof, new fiberglass walkways and is looking better than ever. 6 of the 10 units are renovated and achieving market rents. Income is strong with only a 13% upside to rents, much of which will be achieved in November 2024. The building is NOT subject to Los Angeles RSO meaning the owner can raise rents 8.8% annually (CPI+5% currently). There is room to add ADUs on the property to increase rental income. There is an assumable $1,453,936 mortgage at 3.29% interest fixed until October 2030. A down payment of approximately $3,039,000 is required and yields a cash on cash return of 7.69% on current rents and 8.19% after November 2024.
  1. Listed by Sky Minor • DRE #01380933 • Brokerage DRE #01380933 • Sky Minor, Broker

Property Details for 10705 South Figueroa Street

Zoning
LAC2
Parcel Number
6061023030
Total Units
10.0
Living Area
10400
Source Living Area
Vendor Enhanced
Area
Metropolitan Southwest (C36)
Vacancy Rate
0
Lot Size Area
15231

Location

Listing Courtesy of Sky Minor, Broker, Sky Minor, DRE #01380933
Add your commute
LISTING UPDATED: 04/15/2024 12:01 AM

Property Details for 10705 South Figueroa Street

StatusActive
MLS #24-377341
Days on Market24
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1993
Lot Size0.35 AC / 15,231 SF
CountyLos Angeles County

Location

Listing Courtesy of Sky Minor, Broker, Sky Minor, DRE #01380933
Add your commute

Building Information for 10705 South Figueroa Street

Stories2Residences-Year Built1993Building Size-Lot Size0.35 AC / 15,231 SF

Payment Calculator

$27,171 per month

30 year fixed, 7.25% Interest

Principal and Interest

$24,498

Property Taxes

$2,673

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 10705 South Figueroa Street

Community / Development
Community / Development
  • Number Of Units: 10
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartment
  • View: Yes
  • View Description: City Lights
  • View: City Lights
  • Direction Faces: North
  • Water Heaters: Yes
  • Water District: LADWP
Contract Info
Contract Info
  • Financing: Cash To Existing Loan
  • Disclosures: LA/Owner Related
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $318,180
  • Net Operating Income: $236,243.00
  • Gross Income: $318,180
  • Cap Rate: 5.26%
  • Gross Rent Multiplier: $14.11
  • Financial Info as Of: 04/02/2024
  • Owner Pays: Water
  • Total Annual Expense: 81934
  • Water Expense: $11,899.00
  • Trash Expense: $8,475.00
  • Tax Expense: $31,356
  • Expense Licenses: $679.00
  • Insurance Expense: $5,525
  • Management Expense: $12,000.00
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.3497
  • Lot Size Square Feet: 15231
Parking Details
Parking Details
  • Parking Garage: Driveway Gate
  • Total Parking: 14
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Garbage Disposal
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-07-2024
  • Listing Terms: Assumable
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,651.00
  • Unit Actual Rent: $26,515.00
  • Unit Projected Rent: $29,750.00
  • Like Units: 10
Unit Details
  • Unit Type Type: 2106
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $624,240.00
  • Assessed Improvement Percent: 25.0
  • Assessed Land Value: $1,872,720.00
  • Assessed Land Percent: 75
  • Assessed Total Value: $2,496,960.00

Property History for 10705 South Figueroa Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 10705 South Figueroa Street

Taxable ValueLand$1,872,720Additions$624,240Total$2,496,960
Tax Record2023$32,070 ($2,673 / month)
Home Facts
Total Finished SqFt10,400 SqFtAbove Grade Finished SqFt10,400 SqFtLot Size15,227 SqFtStyleMulti-Family Res (5+ Units)Year Built1993ZoningLAC2CountyLOS ANGELESAPN6061-023-030

Schools near 10705 South Figueroa Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Charter - 9 to 12
Public - K to 2
Rating
School
Distance
Figueroa Street Elementary School
PublicK to 5

Alain Leroy Locke College Prep Academy
Charter9 to 12

Washington Primary Center School
PublicK to 2

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

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10705 South Figueroa Street is a multi-family home for sale in Los Angeles, CA 90044. This property was listed for sale on April 7, 2024 by Sky Minor, Broker, it's currently listed at $4,489,000. It has been on the market for a total of 24 days and was last sold on September 21, 2020. This listing's school district is Los Angeles Unified School District. Nearby schools include Figueroa Street Elementary School, Alliance College-Ready Middle Academy No. 4 and Alain Leroy Locke College Prep Academy. 10705 South Figueroa Street is a 30-bed, 20-bath, 10,400 sqft multi-family home built in 1993.

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 Sky Minor, Broker, Sky Minor, DRE #01380933

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.