8307 S. Figueroa Street-a rare, non-RSO 9-unit multifamily offering located in the high-demand Vermont Knolls neighborhood of South Los Angeles. Constructed in 1991 and newly painted, this three-story building spans 7,584 square feet of rentable space and sits on a 7,499 square-foot lot zoned LAC2-1VL-CPIO with a Tier 2 TOC… Read More designation. The unit mix consists entirely of spacious two-bedroom units, including eight -2 bed/1-bath and one 2-bed/1.5-bath layout. The property is 100% occupied, with an average rent of $2,154 per unit and approximately 25% upside potential. Investors benefit from favorable rent control regulations allowing annual increases of 5% + CPI (currently 8.9%, capped at 10%). Each unit is separately metered for gas and electricity and includes its own water heater, minimizing landlord expenses, which are limited to water, common-area electricity, and trash. The building features secure gated access and 18 covered parking spaces-two per unit-which are exempt from seismic retrofit requirements. Strategically positioned near the 10 and 110 Freeways and within proximity to theCrenshaw/LAX rail lines, the property offers exceptional accessibility to Downtown LA, Culver City, Santa Monica, and the South Bay. Read Less
Listing Snapshot
Days Online
48
Last Updated
Property Type
Other
Beds
18
Square Ft.
7,584
Lot Size
0.17 Acres
Year Built
1991
MLS Number
25542775
30 Days Snapshot Of 90003
$508k
-15%
(avg) sold price
8
+33%
homes sold
57
-24%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1991, Building area total: 7,584, Levels: ThreeOrMore, Living area: 7584, 1 building
Heating
Central
Income
Gross income: $250,583, Net operating income: $161,243
Lot
0.1722 acres, 7,501 square feet, Size: 7,501
Parking
18 totals parking, Covered
Property
Zoning: LAC2
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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