Under contract
1053 Figueroa TER
LOS ANGELES CA, 90012
$1,999,000
$261.03 per sqft
Under contract
14 Beds
10 Baths
7,658 sqft
Multi-family
Built in 1992
Presenting a rare opportunity to acquire this attractive 1992 custom-built and meticulously crafted,5 unit,city view apartment complex. Located adjacent to the iconic Chinatown, Echo Park & Silverlake areas of Los Angeles,& positioned strategically& conveniently near the #2,5,134,110,&101 freeways,& rapid transit including the Gold Line & bus routes. It is situated in a trendy & up-and-coming strong rental market amidst DTLA, Silverlake,Dodger Stadium,Echo Park & the Financial District neighborhoods with major employers including USC,Good Samaritan Hospital,Paramount Studios,& the Los Angeles Fashion and Arts Districts,& much more.This property offers an excellent opportunity for discerning homeowners or investors to secure a true value-added asset in a highly coveted locale.Comprising 3 stories with a total building size of 7,658 sq.ft. per assessor,all units are spacious & the apartment complex boasts a desirable unit mix including an OWNER unit of approx.2,641 sq.ft.(will be available upon close of escrow with new paint & carpet throughout) featuring a 3br,3.5bth townhome-style front unit with an office /den(could be used as a 4th bedroom),large recreation room, C/A, spacious laundry area, ample storage rooms,a 2-car attached garage. The outside laundry & storage rooms with best possibilities for ADU are utility ready with dry walls & windows.Buyer to Investigate feasibility, seller makes no guarantees and no warranties. The remaining 4 units are an ideal mix of two larger (over 1,100 sq. ft. ea) 3br,2bth U and two good-sized 2-br,1-bth U. Each unit boasts an excellent layout, individual water heaters, & separate metering for gas and electricity utilities, ensuring convenience & efficiency. Four units are occupied by tenants on month to month leases. Rent comparable reports indicate a positive upside & added investment potential. Property is not under city s Rent Stabilization Ordinance (RSO), but subject to State Rent Control AB1482 & Just Cause Ordinance (JCO). Buyer to investigate, seller makes no guarantees & no warranties. Total 10 parking spaces,3 covered spaces, 5 open parking spaces & a 2 car garage. Great Owner user building. Residents benefit from an array of culinary delights, cultural experiences, & artistic exhibitions for investors,owner or professionals, further enriching the allure of this investment opportunity. Now is the time to seize this exceptional offering in one of Los Angeles most dynamic and sought-after neighborhoods.
WS24109540MR
MLSⓇ ID
June 1, 2024
Listed
December 7, 2024
Updated
Map
1053 Figueroa TER
LOS ANGELES CA, 90012
Interior Features
Total Stories
3
Bedrooms
14
Total Bathrooms
10
Appliances
Dishwasher, Inside
Laundry Description
Inside
Fireplace
No
Fireplace Description
None
Cooling
Yes
Cooling Description
See Remarks
Heating
Yes
Heating Description
Central, Combination, Wall
Exterior/Building Features
Lot Size
0.17 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Silver Lake - Echo Park
Days on Market
186
Garage
Yes
Garage Spaces
2
Parking
Assigned, Carport, Direct Entrance, Garage, Garage - 1 Car, Parking Space
Parking Total
10
View
Yes
View Description
City Lights
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LARD1.5
Listing History
Date | Event | Price |
---|---|---|
12/7/2024 | Under contract | — |
Listed by YAN CHOW with RE/MAX PREMIER/SANMARINO
Listing Contact: 626-660-1139
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor The Angelas Sell Los Angeles | CA DRE# 02050331 | CA DRE# 01917116 shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 12/7/2024