8307 S Figueroa ST new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90003
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,584 sqft
Price per Sqft $283
MLS Listing ID 25542775
Bedrooms 18
HOA Y/N No
Year Built 1991
Lot Size 7,501 Sqft
Property Description
8307 S. Figueroa Street-a rare, non-RSO 9-unit multifamily offering located in the high-demand Vermont Knolls neighborhood of South Los Angeles. Constructed in 1991 and newly painted, this three-story building spans 7,584 square feet of rentable space and sits on a 7,499 square-foot lot zoned LAC2-1VL-CPIO with a Tier 2 TOC designation. The unit mix consists entirely of spacious two-bedroom units, including eight -2 bed/1-bath and one 2-bed/1.5-bath layout. The property is 100% occupied, with an average rent of $2,154 per unit and approximately 25% upside potential. Investors benefit from favorable rent control regulations allowing annual increases of 5% + CPI (currently 8.9%, capped at 10%). Each unit is separately metered for gas and electricity and includes its own water heater, minimizing landlord expenses, which are limited to water, common-area electricity, and trash. The building features secure gated access and 18 covered parking spaces-two per unit-which are exempt from seismic retrofit requirements. Strategically positioned near the 10 and 110 Freeways and within proximity to theCrenshaw/LAX rail lines, the property offers exceptional accessibility to Downtown LA, Culver City, Santa Monica, and the South Bay.
Location
State CA
County Los Angeles
Area C36 - Metropolitan Southwest
Zoning LAC2
Interior
Heating Central
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Covered
Total Parking Spaces 18
Building
Story 3
Entry Level Three Or More
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 6032020002
Special Listing Condition Standard