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1053 Figueroa Terrace

Los Angeles, CA 90012

– beds
– baths
– sqft
7,428 sqft lot
1992 build
– on site

Presenting a rare opportunity to acquire this attractive 1992 custom-built and meticulously crafted,5 unit,city view apartment complex. Located adjacent to the iconic Chinatown, Echo Park & Silverlake areas of Los Angeles,& positioned strategically& conveniently near the #2,5,134,110,&101 freeways,& rapid transit including the Gold Line & bus routes. It is situated in a trendy & up-and-coming strong rental market amidst DTLA, Silverlake,Dodger Stadium,Echo Park & the Financial District neighborhoods with major employers including USC,Good Samaritan Hospital,Paramount Studios,& the Los Angeles Fashion and Arts Districts,& much more.This property offers an excellent opportunity for discerning homeowners or investors to secure a true value-added asset in a highly coveted locale.Comprising 3 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 an OWNER unit of approx.2,641 sq.ft.(will be available upon close of escrow with new paint & carpet throughout) featuring a 3br,3.5bth townhome-style front unit with an office /den(could be used as a 4th bedroom),large recreation room, C/A, spacious laundry area, ample storage rooms,a 2-car attached garage. The outside laundry & storage rooms with best possibilities for ADU are utility ready with dry walls & windows.Buyer to Investigate feasibility, seller makes no guarantees and no warranties. The remaining 4 units are an ideal mix of two larger (over 1,100 sq. ft. ea) 3br,2bth U and two good-sized 2-br,1-bth U. Each unit boasts an excellent layout, individual water heaters, & separate metering for gas and electricity utilities, ensuring convenience & efficiency. Four units are occupied by tenants on month to month leases. Rent comparable reports indicate a positive upside & added investment potential. Property is not under city’s Rent Stabilization Ordinance (RSO), but subject to State Rent Control AB1482 & Just Cause Ordinance (JCO). Buyer to investigate, seller makes no guarantees & no warranties. Total 10 parking spaces,3 covered spaces, 5 open parking spaces & a 2 car garage. Great Owner user building. Residents benefit from an array of culinary delights, cultural experiences, & artistic exhibitions for investors,owner or professionals, further enriching the allure of this investment opportunity. Now is the time to seize this exceptional offering in one of Los Angeles’ most dynamic and sought-after neighborhoods.

Listed By CRMLS_CA / YAN CHOW / RE/MAX PREMIER/SANMARINO / 626-807-6800

Last checked: Checking… • Last updated Oct 29, 2024 •

MLS# WS24109540 —

The Building

Year Built:

1992
Year Built Source:

Assessor
New Construction:

No
Construction Materials:

Drywall Walls
Architectural Style:

Custom Built
Exterior Features:

Rain Gutters
Entry Level:

1
Common Walls:

2+ Common Walls
Faces:

South
Building Area Total:

7658.00
Building Area Units:

Square Feet
# of Buildings:

1
Total Number Of Units:

5
Stories Total:

3
# of Separate Gas Meters:

5
# of Separate Electric Meters:

5

Interior

Features:

Balcony, Living Room Balcony, Storage
Entry Location:

front
Flooring:

Carpet, Laminate, Tile, Vinyl
Room Type:

Bonus Room, Den, Jack & Jill, Kitchen, Laundry, Living Room, Primary Suite, Recreation, See Remarks, Walk-In Closet
Fireplace:

No
Fireplace:

None
Laundry:

Inside
Laundry:

1

Financial & Terms

Disclosures:

Rent Control

Location

Directions:

N/Sunset, E/White Knoll
Latitude:

34.06949400
Longitude:

-118.24627600

The Property

Property Type:

Residential Income
Subtype:

Apartment
Zoning:

LARD1.5
Lot Features:

Lot 6500-9999, Rectangular Lot, No Landscaping
Lot Size Area:

7428.0000
Lot Size Acres:

0.1705
Lot Size SqFt:

7428.00
Lot Size Source:

Assessor
View:

1
View:

City Lights, Neighborhood
Security Features:

Carbon Monoxide Detector(s), Smoke Detector(s), Window Bars
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

1977.00
Tax Lot:

25

The Listing

Special Listing Conditions:

Standard
Parcel Number:

5406022015

Heating & Cooling

Heating:

1
Heating:

Central, Combination, Wall Furnace
Cooling:

Yes
Cooling:

See Remarks

Utilities

Utilities:

Electricity Available, Natural Gas Connected, Sewer Connected, Water Available
Sewer:

Public Sewer
Water Source:

Public

Appliances

Appliances:

Dishwasher, Free-Standing Range, Disposal, Water Heater
Included:

Yes

The Community

Senior Community:

No
Features:

Sidewalks, Street Lights
Pool:

None
Private Pool:

No
Spa Features:

None
Association:

No
Assessments:

Yes
Assessments:

Buyer to Assume, Buyer to Verify, Unknown

Parking

Parking:

Yes
Parking:

Assigned, Carport, Attached Carport, Detached Carport, Covered, Direct Garage Access, Concrete, Paved, Garage, Garage Faces Front, Garage - Single Door, On Site, Parking Space
Parking Spaces:

10.00
Garage Spaces:

2.00
Uncovered Spaces:

5.00
Carport Spaces:

3.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
7/29/24 Jul 29, 2024	Price Changed	CRMLS_CA	$1,999,000	-16.0%
6/2/24 Jun 2, 2024	Listed / Active	CRMLS_CA	$2,380,000

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This multifamily located in Central LA, Los Angeles, CA 90012 is currently for sale for $1,999,000. 1053 Figueroa Terrace is a – square foot multifamily with – beds and – baths that has been on Estately for 173 days. 1053 Figueroa Terrace is in the Central LA neighborhood of Los Angeles and has a WalkScore® of 71, making it very walkable. This multifamily is in the attendance area of Miguel Contreras Learning Complex - Los Angeles School Of Global Studies, Miguel Contreras Learning Complex - Acdemic Ldrshp Community, Castelar Street Elementary School, Belmont Senior High School, Miguel Contreras Learning Complex - Business And Tourism, Ramon C Cortines School Of Visual And Performing Arts, Florence Nightingale Middle School, Edward R. Roybal Learning Center, and Miguel Contreras Learning Complex - School Of Social Justice.

Listing Courtesy of: CRMLS_CA and RE/MAX PREMIER/SANMARINO. Based on information from California Regional Multiple Listing Service, Inc. as of 06:59 on Nov 22.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.