1053 Figueroa TER new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90012
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID WS24254754
Year Built 1992
Lot Size 7,426 Sqft
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.
Location
State CA
County Los Angeles
Area C21 - Silver Lake - Echo Park
Zoning LARD1.5
Rooms
Other Rooms Storage
Interior
Heating Combination,Central,Wall Furnace
Cooling See Remarks
Flooring Carpet,Laminate,Tile,Vinyl
Fireplaces Type None
Laundry Inside
Exterior
Exterior Feature Rain Gutters
Parking Features Attached Carport,Assigned,Concrete,Covered,Carport,Detached Carport,Direct Access,Door-Single,Garage Faces Front,Garage,On Site,Paved,One Space
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Street Lights,Sidewalks
Utilities Available Electricity Available,Natural Gas Connected,Sewer Connected,Water Available
View Y/N Yes
View City Lights,Neighborhood
Roof Type Flat,Mixed,Shingle,Tile
Building
Lot Description No Landscaping,Rectangular Lot
Story 3
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to New Loan,Conventional
Listing Terms Cash,Cash to New Loan,Conventional
Special Listing Condition Standard