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Multifamily

8307 S Figueroa St

8307 S Figueroa St, Los Angeles, CA 90044

Listing Price: $2,250,000

Cap Rate
6.25%
Number of Units
9
GRM
9.97
Price/Unit
$250,000
Price/Gross SF
$296.68
Gross SF
7,584

Investment Overview

Marcus & Millichap is pleased to present a rare non-RSO investment opportunity with the sale of 8307 S. Figueroa Street, a 9-unit multifamily property nestled in the Vermont Knolls neighborhood of South Los Angeles. Constructed in 1991, this newly painted three-story building offers an expansive 7,584 square feet of rentable space stands on a generous 7,499 square-foot lot zoned LAC2-1VL-CPIO as well as a Tier 2 TOC Bonus.
8307 S. Figueroa features a unit mix of exclusively 2-bedroom units, including eight 2-bedroom/1-bathroom units and one 2-bedroom/1.5-bathroom unit. With an average rent of $2,089 per unit, there is a notable rental upside potential of approximately 34%. Investors will benefit from the ability to raise rents 5% + CPI annually, which is currently 8.9% and capped at 10%. Security and convenience are paramount, with features such as each unit benefiting from individual water heaters and separate metering for gas and electricity, gated controlled access, and an on-site parking lot with 18 dedicated spaces that are exempt from earthquake & seismic retrofitting.
This property offers an excellent investment opportunity in a vibrant and densely populated submarket of South Los Angeles, where demand for rental units remains exceptionally high. Prospective buyers are advised to confirm all building records and data to ensure accuracy.
Strategically located just north of Manchester Avenue and east of South Vermont Avenue, the property enjoys seamless connectivity to the 10 and 110 Freeways, facilitating convenient access to all corners of Greater Los Angeles. Tenants are also within a short distance to multiple bus stops along Figueroa St. and Manchester Blvd.

Investment Highlights

  • Built in 1991 – Not Subject to LA RSO (Rent Stabilization Ordinance)
  • Exclusively 2-Bedroom Units & Ideal for Family Living
  • Individually Metered for Gas & Electricity
  • Professionally Managed & Well Maintained
  • (18) Gated and Secure Parking Spaces for Tenants & Guests
  • Secured Gated Entry for Safety
  • Potential for ADU & Additional Income Streams (Buyer to Verify)

Exclusively Listed By

Financing By

Multifamily

8307 S Figueroa St

Listing Price: $2,250,000

Cap Rate
6.25%
Number of Units
9
GRM
9.97
Price/Unit
$250,000
Price/Gross SF
$296.68
Gross SF
7,584

Investment Highlights

  • Built in 1991 – Not Subject to LA RSO (Rent Stabilization Ordinance)
  • Exclusively 2-Bedroom Units & Ideal for Family Living
  • Individually Metered for Gas & Electricity
  • Professionally Managed & Well Maintained
  • (18) Gated and Secure Parking Spaces for Tenants & Guests
  • Secured Gated Entry for Safety
  • Potential for ADU & Additional Income Streams (Buyer to Verify)

Investment Overview

Marcus & Millichap is pleased to present a rare non-RSO investment opportunity with the sale of 8307 S. Figueroa Street, a 9-unit multifamily property nestled in the Vermont Knolls neighborhood of South Los Angeles. Constructed in 1991, this newly painted three-story building offers an expansive 7,584 square feet of rentable space stands on a generous 7,499 square-foot lot zoned LAC2-1VL-CPIO as well as a Tier 2 TOC Bonus. 8307 S. Figueroa features a unit mix of exclusively 2-bedroom units, including eight 2-bedroom/1-bathroom units and one 2-bedroom/1.5-bathroom unit. With an average rent of $2,089 per unit, there is a notable rental upside potential of approximately 34%. Investors will benefit from the ability to raise rents 5% + CPI annually, which is currently 8.9% and capped at 10%. Security and convenience are paramount, with features such as each unit benefiting from individual water heaters and separate metering for gas and electricity, gated controlled access, and an on-site parking lot with 18 dedicated spaces that are exempt from earthquake & seismic retrofitting. This property offers an excellent investment opportunity in a vibrant and densely populated submarket of South Los Angeles, where demand for rental units remains exceptionally high. Prospective buyers are advised to confirm all building records and data to ensure accuracy. Strategically located just north of Manchester Avenue and east of South Vermont Avenue, the property enjoys seamless connectivity to the 10 and 110 Freeways, facilitating convenient access to all corners of Greater Los Angeles. Tenants are also within a short distance to multiple bus stops along Figueroa St. and Manchester Blvd.

Exclusively Listed By

Financing By

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