10904 S Figueroa ST

Property was originally built as a 5 units and converted to a 4-unit building in 1996 - MLS: click "Listing has Supplement" to access Los Angeles Building and Safety Records. (Document # 1996LA50882 | Record ID: 21984005) A four-unit property that consists of two separate buildings on a 5,124 SF lot zoned LAC2 with direct alleyway access and five off-street parking spots at the back of the property. The front building consists of a two-level structure with three units in it. There are two 1-Bedroom / 1-bathroom units on the top floor and a 3-bedroom / 2-bathroom (2b/2b per title) unit on the bottom floor. The freestanding structure at the back of the lot features a 3-bedroom / 1-bathroom unit. The property will be delivered at a 5.48% current cap rate, and it present the opportunity to a savvy investor to benefit from the potential of up to 65% of rent upside. This asset is situated right off the I-110 Imperial Highway; a 5-minute walk to Figueroa Elementary School; and 2.1 miles away from the Evermont Project, a mixed-use development at the Northeast corner of Vermont and Manchester, that will provide 180 units of affordable housing, a transit plaza, a Metro-sponsored jobs training facility, and grocery anchored retail, alongside the state s first public boarding school SEED LA.