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10950 S Figueroa Street

Los Angeles (City), CA 90061
  • $2,000,000
  • STATUS: Active
  • ON SITE: 18 Days
  • ID#: SB24029476
UPDATED: 25 min ago
$2,000,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
2009
County:

School Ratings & Info

Listing Agent(s): Luis Gonzalez of Vista Sotheby’s International Realty (310-349-3000)


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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-29T20:34:09.583. 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 deemed reliable but is not guaranteed accurate by the MLS or Brianna Miller | Synergy Real Estate. Licensed in the State of California, USA.
www.briannasellshomes.com/homes/147514955
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10950 S Figueroa Street Los Angeles (City), CA 90061

  • Price: $2,000,000
  • Status: Active
  • On Site: 18 Days
  • Updated: 25 min ago
  • ID#: SB24029476
0
Beds
0
Baths
0
½ Baths
0.16
Acres
2009
Built
Neighborhood:
C37 - Metropolitan South
County:
Los Angeles
Area:
C37 - Metropolitan South
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.
Exterior Features

Construction Materials DrywallFrameOtherStucco Entry Level 1 Entry Location main Fencing Chain LinkGood ConditionPipe Lot Features 2-5 Units/AcreCorner LotLevelStreet Level Number Of Separate Electric Meters 4 Open Parking Spaces 8 Parking Total 8 Pool Features None Pool Private YN No Property Attached YN No Road Frontage Type City Street Road Surface Type Paved Roof Composition Spa Features None Spa YN No View Neighborhood View YN Yes

Interior Features

Appliances Dishwasher Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Flooring CarpetTile Heating Forced Air Heating YN Yes Interior Features All Bedrooms UpAll Bedrooms Down Window Features Double Pane Windows

Property Features

Additional Parcels YN Yes Association Fee 0 Association YN No Cap Rate 6.05 Common Interest None Community Features CurbsGutter(s)Gated Electric Standard Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 172800 Gross Scheduled Income 172800 Inclusions Two Duplexes on a lot444-446 W 109th Place & 10950-10952 S Figueroa StLos Angeles CA 90061 the 2nd Parcel # 6075-032-011 Insurance Expense 2200 Land Lease YN No Laundry Features Washer HookupGas Dryer HookupLaundry Room Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan1031 ExchangeFHA Net Operating Income 141275 New Construction YN No Number Of Separate Gas Meters 4 Number Of Separate Water Meters 4 Number Of Units Leased 4 Operating Expense 30725 Possession Close Of Escrow Property Condition Turnkey Property Sub Type Quadruplex Rent Control YN Yes Security Features Gated CommunitySecurity LightsWindow Bars Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tax Annual Amount 18085 Tax Year 2023 Tenant Pays All UtilitiesElectricityGasTrash CollectionWater Trash Expense 0 Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedPhone AvailableSewer ConnectedWater Connected Vacancy Allowance 8640 Vacancy Allowance Rate 5 Water Sewer Expense 0 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-29T20:34:09.583. 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 deemed reliable but is not guaranteed accurate by the MLS or Brianna Miller | Synergy Real Estate. Licensed in the State of California, USA.
 
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Brianna Miller | Synergy Real Estate
140 N. Harvard Avenue #341
Claremont CA, 91711
Listing Agent(s): Luis Gonzalez of Vista Sotheby’s International Realty (310-349-3000)