5606 S Figueroa Street,Los Angeles, CA 90037
Los Angeles, CA 90037
Description
PRICE REDUCTION! 16-Unit Value-Add Investment Opportunity in South Los Angeles presenting a rare opportunity to acquire a 16-unit multifamily property in the heart of South Los Angeles, offering strong in-place cash flow and significant upside potential. The property is currently operating at a 7.9% CAP Rate and is offered at an attractive 7.22 GRM, providing investors with an excellent combination of current income and future value growth. Offered at a low $186 per square foot, this asset presents an attractive basis compared to many competing multifamily properties in the Los Angeles market. The property consists of large studio units, each offering approximately 500 square feet or more of living space, a highly desirable feature that continues to attract tenants seeking affordable yet spacious housing options.Several units have already been renovated and remodeled, demonstrating the property's ability to achieve higher market rents. These upgraded units provide a clear blueprint for future ownership to continue enhancing the remaining units and capturing additional rental upside. Through strategic renovations and improved management, investors have the opportunity to further increase income and maximize the property's overall value. Ideally located near some of Los Angeles' most notable destinations, the property offers residents convenient access to Downtown Los Angeles, BMO Stadium, USC, and Exposition Park. These major employment, educational, entertainment, and cultural hubs contribute to strong rental demand and long-term occupancy stability. The property also benefits from excellent transportation access, with major freeways and transportation corridors nearby, allowing residents to conveniently commute throughout Los Angeles County. This accessibility further enhances the property's appeal to working professionals, students, and long-term renters. Situated in a "Very Walkable" location with a Walk Score of 76, residents enjoy easy access to neighborhood-serving retail, restaurants, grocery stores, cafes, and a variety of commercial services. The convenience of nearby amenities creates a desirable living environment that supports tenant retention and rental growth. With strong current returns, proven rental upside, spacious unit layouts, and a highly desirable location, this 16-unit apartment community represents an outstanding value-add investment opportunity in one of Southern California's most dynamic rental markets. Whether for immediate cash flow or long-term appreciation, this property offers investors the opportunity to capitalize on the continued growth and demand throughout South Los Angeles
Details
| MLS # | 26846351 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1927 |
| Days On Site | 153 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. | Sean Namigohar |
Features
| Bed(s) | 1 |
|---|---|
| Bath(s) | 16 |
| SQ Feet | 9,090 |
| Units | 16 |
| Building(s) | 1 |
| Zoning | LAC2 |
| Acreage | 0.14 |
Interior
| Cooling | None |
|---|---|
| Heating | None |
| Heating Yes / No | No |
| Cooling Yes / No | No |
Parking
| Parking Features | None |
|---|
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90037 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90037) | |
Price: $1,695,000 low | high Med: $812,000 sqft: 9,090 low | high Med: 2,059 $ / sqft: $186 low | high Med: $404 On site: 153 low | high Med: 235 | |
Market Activity 90037
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Los Angeles |
| Zip Code | 90037 |
| Area | C42 Downtown L.A. |
| Listing VS Median (in 90037) | |
Price: $1,695,000 low | high Med: $812,000 sqft: 9,090 low | high Med: 2,059 $ / sqft: $186 low | high Med: $404 On site: 153 low | high Med: 235 | |
