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7404 S Figueroa St, Los Angeles, CA 90003
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7404 S Figueroa St Los Angeles, CA 90003

$1,825,000
  • 12 Beds
  • 6 Baths
  • 4,269 Sq.Ft.
For Sale
$1,825,000 Get Pre-Qualified
Map preview of 7404 S Figueroa St, Los Angeles, CA 90003

Property Overview: 7404 S Figueroa St Los Angeles, CA has 12 bedrooms, 6 bathrooms, 4,269 living square feet and 11,600 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: Located on South Figueroa Street in South Los Angeles, this cash-flowing covered land opportunity is an amazing opportunity for a developer seeking in-place cash flow while seeking entitlements. Currently, the property contains (6) - 2 bed / 1 bath units with a strong cap rate of 6.22% in-place. As a development site, there is potential to develop a 100% affordable apartment building containing 157 units (buyer to verify). The identical neighboring property received approvals for 157 units and sold in September of 2023 for $3,910,039.

Listed by Casey Picard | BRE #01921866 | Keller Williams Realty
Last checked: 6 minutes ago | Last updated: August 9th, 2024 | Source CRMLS | DOM: 41

Home details

Lot Sq. Ft
11,600
HOA Dues
$0/mo
Year built
1923
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
P1-18776
City
Los Angeles
County
Los Angeles
Time on Site
44 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 4
  • # of Electric Meters: 6
  • # of Gas Meters: 6
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: --
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $2,195
  • Total Rent: --
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 2
  • # of Units: --
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $2,195
  • Total Rent: --
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 3
  • # of Units: --
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $2,350
  • Total Rent: --
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 4
  • # of Units: --
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $2,500
  • Total Rent: --
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 5
  • # of Units: --
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,350
  • Total Rent: $2,350
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 6
  • # of Units: --
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $2,195
  • Total Rent: --
  • Pro Forma/Market Rent: $2,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.22%
  • Gross Rent Multiplier: 11.03
  • Gross Scheduled Income: $165,456
  • Net Operating Income: $113,466
  • Gross Operating Income: $165,456
  • Vacancy Allowance: $3
Annual Expense Breakdown
  • Total Operating Expense: $47,026
  • Electric: $0
  • Gas/Fuel: $0
  • New Taxes: $23,138
  • Trash: $0
  • Gardener: $1,200
  • Insurance: $4,269
  • Maintenance: $4,500
  • Professional Management: $6,420
  • Water/Sewer: $6,900

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Property Details for 7404 S Figueroa St

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Gas Dryer Hookup, Washer Hookup
Fireplace Information
  • No Fireplace
  • None
Kitchen Information
  • No Appliances
  • None
Interior Features
  • Levels: One
Exterior Features
Exterior Information
  • Has Fence
  • Wrought Iron
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Driveway
Lot Information
  • Lot Features: Sprinklers None
Property Information
  • No View
  • View: None
  • Common Walls: No Common Walls
  • Total # of Units: 6
  • Parcel Number: 6020031010
  • Year Built Source: Public Records
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Subdivision Name: Not Applicable
  • Directions: Located on Figueroa Street just south of 74th
Neighborhood Information
  • Community Features: Sidewalks
View more facts & features

Local Los Angeles Agent

Sale History for 7404 S Figueroa St

View property's historical transactions

  • August, 2024

  • Aug 5, 2024

    Date

    Active

    CRMLS: P1-18776

    $1,825,000

    Price

Tax History for 7404 S Figueroa St

Recent tax history for this property
Year Land Value Improved Value Assessed Value
The tax history for this property will expand as we gather information for this property.

Home Value Compared to the Market

This property vs the competition

7404 S Figueroa St is listed 52.08% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768 and this home is listed at $427.5 per/sqft which puts the price per square foot 44.34% lower than the median price per square foot for the city of Los Angeles.

About 7404 S Figueroa St

Detailed summary of property

7404 S Figueroa St is a multi family located in Los Angeles, CA 90003 and is currently for sale. This multi family property offers 12 bedrooms, 6 bathrooms, roughly 4,269 living square feet, and sits on an approximately 11,600 square foot lot. 7404 S Figueroa St was first listed on ArdentRealEstateGroup.com on August 5, 2024. The homeowner is currently asking $1,825,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 52.08% higher than the median priced home. Local competing homes currently for sale include 735 E 82nd St, 324 W 51st St and 645 W 97th St. While the average home in Los Angeles, CA is selling in 106 days, 7404 S Figueroa St has a days on market of 41 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 7404 S Figueroa St Los Angeles, CA 90003 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 7404 S Figueroa St

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
--
Lot Size
--
Stories
--
Type
--
Pool
--
Spa
--
County
--
Lot#
--
APN
--

The source for these homes facts are from public records.

90003 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$599,000
Median List Price/Sq.Ft.
$574
Median Sold Price
$515,000
Median Sold Price/Sq.Ft.
$535
Total Inventory
47
Median Sale to List Price %
103%
Avg Days on Market
31
Loan Type
Conventional (41.67%), FHA (16.67%), VA (0%), Cash (16.67%), Other (25%)

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Recently Sold Homes Near 7404 S Figueroa St

7404 S Figueroa St, Los Angeles, CA 90003
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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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