1053 Figueroa TER Active 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
HOA Y/N No
Year Built 1992
Lot Size 7,426 Sqft
Property Sub-Type Apartment
Property Description
Presenting attractive 1992 custom-built 5-units, with a large & private townhouse style owner's front unit w/ beautiful city view & a 2-car attached garage w/ direct access to the unit.Offering 6.1% Cap Rate. Stable & below market income w/plenty of upside potential and possibility to convert some space to ADU's for additional income (buyer to investigate feasibility, seller makes no guarantees & warranties). Located close to iconic Chinatown, booming Echo Park & Silverlake areas of DTLA & positioned strategically & conveniently near freeways, Metro Line, Union Station,Bus routes & near LA's financial district,LA Fashion & Arts ..etc.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 & many existing condominiums valued at $1 million or more. Comprising three 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 the owner's unit measured approx. 2,641sq ft. (freshly painted & newly carpeted & a new dishwasher) w/ 3-bedroom, 3.5-bathroom & an office/den w/ closets (could be a 4th bedroom), two walk-in closets, kitchen range & wok stove, large recreation room, laundry room & ample storage closets/rooms. The remaining four units is an ideal mix of two spacious 3-bedroom, 2-bathroom units & two good-sized 2-bedroom, 1-bathroom units. New roof & sky light by close of escrow. Each unit has individual water heaters & separate meters for gas and electricity. Owner unit will be available upon COE and the other 4 units are rented to tenants on month-to-month leases. Rent comparable reports indicate a positive upside in rent & added investment potential as units turn over. Property is not under city rent control ordinance (RSO), but subject to State Rent Control & just caused ordinance (JCO). Buyer to investigate, seller makes no guarantees and no warranties. Ample parking includes 3 covered spaces, 5 open parking spaces and a 2-car attached garage for the owner unit. Residents benefit from an array of culinary delights, cultural experiences, and artistic exhibitions open 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
Interior Features Balcony,Storage,Jack and Jill Bath,Primary Suite,Walk-In Closet(s)
Heating Combination,Central,Wall Furnace
Cooling See Remarks
Flooring Carpet,Laminate,Tile,Vinyl
Fireplaces Type None
Fireplace No
Appliance Dishwasher,Free-Standing Range,Disposal,Range Hood,Water Heater
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
Carport Spaces 3
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
Total Parking Spaces 10
Private Pool No
Building
Lot Description No Landscaping,Rectangular Lot
Faces South
Story 3
Sewer Public Sewer
Water Public
Architectural Style Custom
Additional Building Storage
New Construction No
Others
Senior Community No
Tax ID 5406022015
Security Features Carbon Monoxide Detector(s),Fire Sprinkler System,Smoke Detector(s),Window Bars
Acceptable Financing Cash,Cash to New Loan,Conventional
Listing Terms Cash,Cash to New Loan,Conventional
Special Listing Condition Standard