Overview
- Updated On:
- August 9, 2024
Property Description
Located on South Figueroa Street in South Los Angeles, this cash-flowing covered land opportunity is an amazing opportunity for a developer seeking in-place cash flow while seeking entitlements. Currently, the property contains (6) – 2 bed / 1 bath units with a strong cap rate of 6.22% in-place. As a development site, there is potential to develop a 100% affordable apartment building containing 157 units (buyer to verify). The identical neighboring property received approvals for 157 units and sold in September of 2023 for $3,910,039.
Address: 7404 S Figueroa Street
City: Los Angeles
Area: Not Applicable
State/County: Los Angeles
Zip: 90003
Country: United States
Open In Google Maps
Property Id : 401382
Price: $ 1,825,000
Property Lot Size: 0 ft2
$ 9,357.14
per month- Principal and Interest
- Property Tax
- HOA fee
$ 7,075.89
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