10950 SW Figueroa Street, Los Angeles, CA 90061 | MLS #SB24023846 | Vista Sotheby’s International Realty
 
  • 66 days on site
  • 45 views

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.

Listed by:

Vista Sotheby's International Realty

Source: CRMLS, MLS#: SB24023846

  • Property Type
    CommercialSale
  • Lot
    0.16 Acres
  • Price / Sq Ft
    $362

Get in Contact

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Luis Gonzalez
  • Median Age
    32
  • Population Density
    10,801
  • College Educated
    17%
  • Estimated Median Monthly Income
    $47,468
  • Estimated Total Home Owners
    3,156
  • Estimated Total Renters
    4,371
  • Owner / Renter Divide
    42% / 58%
  • Estimated Average Household Size
    4
  • Total Population
    28,755
  • Community data courtesy of LiveBy, Inc.

Owning this Home

$
$ %
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*Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

Life at 10950 SW Figueroa Street


Schools

1
Avalon Gardens Elementary
  • Grades: KG-6
  • Public
2
One Hundred Eighteenth Street
  • Grades: KG-5
  • Public
3
One Hundred Twenty-Second Street Elementary
  • Grades: KG-5
  • Public
2
Animo Mae Jemison Charter Middle
  • Grades: 6-8
  • Public
1
Avalon Gardens Elementary
  • Grades: KG-6
  • Public
1
New Designs Charter School-Watts
  • Grades: 6-12
  • Public
1
Alain Leroy Locke College Preparatory Academy
  • Grades: 9-12
  • Public
2
Animo Watts College Preparatory Academy
  • Grades: 9-12
  • Public
1
New Designs Charter School-Watts
  • Grades: 6-12
  • Public
2
University Pathways Medical Magnet Academy
  • Grades: 9-12
  • Public
School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

History

Date Event Value Agent
2/8/2024Source: CRMLS Added to Database
February 08, 2024
Luis Gonzalez
Listing Agent