1053 Figueroa Terrace

Los Angeles, CA 90012

$1,999,800

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1992

calendar_month Built

Property Description

Presenting a rare opportunity to own this attractive 1992 custom-built 5-units, with a large and private townhouse style owner’s front unit with city views & a 2-car attached garage with direct access to the unit. Stable and below market income with plenty of upside potential and possibility to convert some space to ADU’s for additional income. Buyer to investigate feasibility, seller makes no guarantees and no warranties.Located close to iconic Chinatown, booming Echo Park and Silverlake areas of DTLA, and near several freeway access and rapid transit routes. Trendy and strong rental market. Major employers including USC, Dodgers Stadium, Good Samaritan Hospital, and the Los Angeles Fashion and Arts Districts, and many more. It is also near the Music Center, Disney Concert Hall, Broad Museum and other downtown attractions. This property offers an excellent opportunity for the discerning homeowner or investors to secure a true value-added asset in a highly coveted area. Surrounding neighborhood boasts large future development projects and many existing condominiums valued at $1 million or more. Comprising three stories with a total building size of 7,658 square feet per assessor, all units are spacious and the apartment complex boasts a desirable unit mix including the owner’s unit measured approx. 2,641sq ft. (with new paint and carpet throughout) with 3-bedroom, 3.5-bathroom with an office/den (could be a 4th bedroom), two walk-in closets, large recreation room, laundry room, and ample storage rooms. The remaining four units is an ideal mix of two spacious 3-bedroom, 2-bathroom units and two good-sized 2-bedroom, 1-bathroom units. Each unit has individual water heaters, and separate metering for gas and electricity. All 4 units are occupied by tenants on month-to-month leases. Rent comparable reports indicate a positive upside and added investment potential. Property is not under city rent control ordinance (RSO), but subject to State Rent Control & just caused ordinance (JCO). Buyer to investigate.Ample parking includes 3 covered spaces, 5 open parking spaces and owner unit 2 car attached garage. Residents benefit from an array of culinary delights, cultural experiences, and artistic exhibitions for all. Now is the time to seize this exceptional offering in one of Los Angeles' most dynamic and sought-after neighborhoods.

Listing Information

List Price $1,999,800
Status Active
MLS WS24254754
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1992
Lot Size 7,428
Structure Size N/A
DOM 4
Courtesy Of RE/MAX PREMIER/SANMARINO
Listing Agent YAN CHOW DRE#00778558

Interior Features

Laundry Information
Location(s) Inside
Total Bedroom
Bedrooms N/A
Bathroom Information
Features Jack and Jill Bath
Total Bathroom
Bathrooms N/A
Flooring Information
Material Carpet, Laminate, Tile, Vinyl
Fireplace Information
Features None
Additional Information
Additional Features Balcony, Storage, Jack and Jill Bath, Primary Suite, Walk-In Closet(s)
Cooling Type
Cooling Type See Remarks

Exterior Information

Other Structures
Structures Storage
View Yes

Maps

Listing information courtesy of: YAN CHOW, RE/MAX PREMIER/SANMARINO 626-660-1139. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 7th, 2025 at 8:34 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.