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

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