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10950 Figueroa Street

Los Angeles, CA 90061

$1,950,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $353 / sqft

2009

calendar_month Built

Property Description

This 4 unit multi-family building built in 2009 already earning great income that starts with 6% cap rate. The money goes into your bank account at $14,400 per month / annual income at: $172,800 Gross /$141,275 Net (after annual taxes, insurance and every expense the seller pays that is actual Net). The rental income, you do not have to chase the tenants for all the money. The government, via section 8, will send the majority monthly rents on time every month to the bank account of your choice. This means no chasing money or tenants. The Actual Cap rate is 6% Net, after taxes and all expenses the seller pays. Increase the rents $1900 per month to improve the cap Rate to a 7.25%. Additionaly, There is room to add 2 ADU's of which, each unit will rent for going rents of $2,000 per month. This will increase the annual Gross income to $220,000/Net $189,000 after expenses to improve your Cap Rate to 9.40%. With a little work, earn a Cap Rate of 9.40% net annual income of $189,000. The tenants pay for water, gas, electrical and trash. Each unit has separate Water, Electric & Gas Meters. The property consist of 2 separate buildings, side by side, in one gated complex in excellent condition, built in 2009. Each of the 4 units feature 4 bedrooms, 2 bathrooms that include a bath tube and a shower. Tenants will enjoy a laundry room with washer and dryer hook-ups inside each unit. This 4 unit property that comprises of 2 duplexes on one lot, 2 separate parcels, each in excellent condition overall inside all the units and very attractive exterior of the buildings outside with a surrounding security gate and a grassed area for recreation. The tenants will enjoy large kitchens with all the kitchen emenites, such as granite countertops, dishwashers, garbage, disposal, tile floor and lots of wood cabinets, double pan windows throughout each unit. The bedrooms are larger than normal rentals, with newer carpets and with large closets, this helps the tenants enjoy a superb at home family lifestyle. Tenants love that units are close to LAX USC , LA Downtown, 110 & 105 FWY and public transit.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Interior Information
Cooling Type None

Listing Information

Address 10950 Figueroa Street
City Los Angeles
State CA
Zip 90061
County Los Angeles
Listing Agent Luis Gonzalez DRE#01137141
Courtesy Of Vista Sotheby’s International Realty
MLS SB24023846
List Price $1,950,000
Status Active
Type Commercial
Subtype Multi Family
Structure Size N/A
Lot Size N/A
Year Built 2009
DOM 95

Exterior Information

Maps

home_work Nearby Properties

Image

$1,950,000

king_bed N/A
shower N/A
straighten N/A
straighten 6,785
10950 Figueroa Street,

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Image

$610,000

king_bed N/A
shower N/A
straighten N/A
straighten 6,043
411 111th Street,

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Image

$3,150/month

king_bed 3
shower 2
straighten 1,040
straighten 10,359
10705 Figueroa #7,

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Image

$695,000

king_bed N/A
shower N/A
straighten N/A
straighten 5,010
642 109th Place,

Los Angeles, CA 90044
Image

$2,300,000

king_bed N/A
shower N/A
straighten N/A
straighten N/A
10721 Broadway,

Los Angeles, CA 90061

Listing information courtesy of: Luis Gonzalez, Vista Sotheby’s International Realty . *Based on information from the Association of REALTORS/Multiple Listing as of May 13th, 2024 at 1:57 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.