6817 North Figueroa Street

Los Angeles, CA 90042

$5,030,000
Price
7
Beds
22
Baths
16,388 Sq. Ft.
$307 / Sq. Ft.
16,388
Sq. Ft.
$307
per Sq. Ft.

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.
  1. Listed by Evan Monroe • DRE #02135116 • Brokerage DRE #02201380 • Growth Investment Group Pasade • 626-340-3826
  2. 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 Pool
No
Total Units
21.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
16388
Assessor Parcel Number
5486-004-027
Property Attached YN
true

Location

Listing Courtesy of Growth Investment Group Pasade, Evan Monroe, DRE #02135116; Growth Investment Group Pasade, Justin McCardle, DRE #01895720
Add your commute
LISTING UPDATED: 04/16/2024 07:05 AM

Property Details for 6817 North Figueroa Street

StatusActive Under Contract
MLS #AR24039591
Days on Market50
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1954
CountyLos Angeles County

Location

Listing Courtesy of Growth Investment Group Pasade, Evan Monroe, DRE #02135116; Growth Investment Group Pasade, Justin McCardle, DRE #01895720
Add your commute

Building Information for 6817 North Figueroa Street

Building/Complex6817 N Figueroa StFloor-Stories2Residences-Pet Policy-Year Built1954Building Size-

Payment Calculator

$27,989 per month

30 year fixed, 7.25% Interest

Principal and Interest

$27,451

Property Taxes

$538

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6817 North Figueroa Street

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $558,979
  • Gross Scheduled Income: $558,979
  • Net Operating Income: $385,465
Expense Details
  • Operating Expense: $156,745
  • Fuel Expense: $4,235
  • Electric Expense: $0
  • Insurance Expense: $15,000
  • Professional Management Expense: $6,000
  • Trash Expense: $6,733
  • Water Sewer Expense: $25,219
  • Total Expenses: $156,745
Tax / Assessment Info
  • Tax Tract Number: 10-158
  • Tax Census Tract: 1832.21
  • CFD/Mello-Roos Fee: $2,327
  • Tax Lot: 45
Community / Development
Community / Development
  • Community Features: Foothills, Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: N. Figueroa St.
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 21-25 Units/Acre, Lot 20000-39999 Sqft
  • Number Of Units: 21
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 1
  • Parking: Yes
  • Parking Garage: Carport, Controlled Entrance, Garage, Gated
  • Uncovered Spaces: 15
  • Open Other Spaces Total: 15
  • Parking Garage Spaces: 1
  • Carport Spaces: 3
  • Parking Features: Carport, Controlled Entrance, Garage, Gated
Unit Information
Unit 1
  • Unit Type Units Total: 6
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $380
  • Unit Type Total Rent: $380
  • Unit Type Pro Forma: 11970
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 14
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,280
  • Unit Type Total Rent: $1,280
  • Unit Type Pro Forma: 31500
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $400
  • Unit Type Total Rent: $400
  • Unit Type Pro Forma: 3000
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 22
  • Number Of Separate Gas Meters: 22
  • Number Of Separate Water Meters: 1

Property History for 6817 North 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 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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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 Growth Investment Group Pasade, Evan Monroe, DRE #02135116; Growth Investment Group Pasade, Justin McCardle, DRE #01895720

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.