8307 S Figueroa St Pending Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90003
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 7,584 sqft
Price per Sqft $283
MLS Listing ID 25542775
Bedrooms 18
Year Built 1991
Lot Size 7,501 Sqft
Acres 0.1722
Property Sub-Type Multi-Family
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 Metropolitan Southwest
Zoning LAC2
Rooms
Other Rooms None
Interior
Heating Central
Cooling Air Conditioning
Equipment Range/Oven, Refrigerator
Exterior
Parking Features Covered Parking
Garage Spaces 18.0
Building
Story 3
Level or Stories Three Or More
Others
Special Listing Condition Standard