6817 North Figueroa Street
6817 North Figueroa Street
$5,030,000
7
22
16,388
16,388
$307
Active Under Contract
Description
6817-6819 North Figueroa Street is a 21-unit apartment community conveniently located north of the intersection at York Boulevard and Figueroa Street in Highland Park. Built between 1954 and 1955, the property includes an excellent apartment mix of 14 2-bedroom units along with 6 1-bedroom units and a converted/permitted (combined) 4-bedroom unit. The 2-story garden-style apt. building consists of 16,388 SF of bldg. area sitting upon over 21,000 SF of lot area zoned RD1.5-1. The property has not...6817-6819 North Figueroa Street is a 21-unit apartment community conveniently located north of the intersection at York Boulevard and Figueroa Street in Highland Park. Built between 1954 and 1955, the property includes an excellent apartment mix of 14 2-bedroom units along with 6 1-bedroom units and a converted/permitted (combined) 4-bedroom unit. The 2-story garden-style apt. building consists of 16,388 SF of bldg. area sitting upon over 21,000 SF of lot area zoned RD1.5-1. The property has not been renovated to top-of-market standards for 2024-2025, presenting a new owner/investor with a unique value-add opportunity to maximize income and value through a robust rehab/renovation strategy. Built between 1954 and 1955, 6817-6819 N. Figueroa Street is fully subject to LA’s Citywide RSO. It is separately metered for Gas/Electricity. The section of the property facing Figueroa Street between the two “arms” of the U-Shaped structure currently houses A) a 1-car garage used for storage, B) a machine storage room, and C) an exercise room. All three of these spaces may be converted for additional garage parking, ADU’s, or additional common space. (Buyer to Verify) 6817-6819 N. Figueroa St.' s current ownership is a Non-Profit Organization, and has established artificially low rental rates over the years. The property has enormous rental upside with a proforma cap rate of 6.46% and a proforma GRM of 10.67 post-rehab/renovation. 6817-6819 North Figueroa Street can operate as a traditional apartment complex (w/ regular rental unit registration, SCEP inspections, etc.) The apartments feature a unique notification alarm/light system which helps to ensure security. Overall, 6817-6819 North Figueroa Street represents a very rare opportunity to own a mid-sized apt. asset with a strong unit mix, tremendous upside potential, and a strategic central location in a popular rental market. Only approx. 6-8% of the apt. properties in 90042 are 16+ units in total. Residents of 6817-6819 N. Figueroa St. also enjoy easy access to transit, with the Metro Gold Line station and 110 Fwy nearby.
6817-6819 N. Figueroa St. may be purchased individually or together with 2 adjacent parcels: 6079 La Prada St. (13-Unit Apt. 1985 Constr.) and 6801 N. Figueroa St. (4-Suite Corner Retail 1974 Constr.) Altogether, the portfolio covers just over 1 Acre of contiguous residential land in Highland Park.
6817-6819 N. Figueroa St. may be purchased individually or together with 2 adjacent parcels: 6079 La Prada St. (13-Unit Apt. 1985 Constr.) and 6801 N. Figueroa St. (4-Suite Corner Retail 1974 Constr.) Altogether, the portfolio covers just over 1 Acre of contiguous residential land in Highland Park.
- Listed by Evan Monroe • DRE #02135116 • Brokerage DRE #02201380 • Growth Investment Group Pasade • 626-340-3826
- Listed by Justin McCardle • DRE #01895720 • Brokerage DRE #02201380 • Growth Investment Group Pasade
Property Details for 6817 North Figueroa Street
Parking Spaces Total
19
Private PoolNo
Total Units21.0
Building TypeAttached
Lot Size SourceAssessor
Living Area16388
Assessor Parcel Number5486-004-027
Property Attached YNtrue
Location
LISTING UPDATED: 04/16/2024 07:05 AM
Property Details for 6817 North Figueroa Street
Status | Active Under Contract |
---|---|
MLS # | AR24039591 |
Days on Market | 50 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1954 |
County | Los Angeles County |
Location
Building Information for 6817 North Figueroa Street
Building/Complex6817 N Figueroa StFloor-Stories2Residences-Pet Policy-Year Built1954Building Size-
Payment Calculator
$27,989 per month
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Property Information for 6817 North Figueroa Street
Property History for 6817 North Figueroa Street
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 6817 North Figueroa Street
Taxable ValueLand$114,361Additions$531,032Total$645,393
Tax Record2023$6,455 ($538 / month)
Home Facts
Total Finished SqFt16,388 SqFtAbove Grade Finished SqFt16,388 SqFtLot Size21,453 SqFtStyleMulti-Family Res (5+ Units)Year Built1954ZoningLARD1.5CountyLOS ANGELESAPN5486-004-027
Schools near 6817 North Figueroa Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Charter - | K to 8 | |||
Public - | 7 to 12 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
PUC International Preparatory Academy CharterK to 8 | ||
Eagle Rock High School Public7 to 12 | ||
Luther Burbank Middle School Public6 to 8 | ||
Highland Park Continuation 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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