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1053 Figueroa Terrace, Los Angeles, CA 90012
Priced at Only: $1,999,000
For more Information Call Mobile: 714.478.6676
Address: 1053 Figueroa Terrace, Los Angeles, CA 90012
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  • MLS#: WS24109540 ( Apartment )
  • Street Address: 1053 Figueroa Terrace
  • Viewed: 3
  • Price: $1,999,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1992
  • Bldg sqft: 0
  • Days On Market: 210
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90012
  • Provided by: RE/MAX PREMIER/SANMARINO
  • Contact: YAN YAN
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    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 citys 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.
Features
Appliances
  1. Dishwasher
  2. Free-Standing Range
  3. Disposal
  4. Water Heater
Architectural Style
  1. Custom Built
Assessments
  1. Buyer to Assume
  2. Buyer to Verify
  3. Unknown
Association Fee
  1. 0.00
Building Area Total
  1. 7658.00
Carport Spaces
  1. 3.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Construction Materials
  1. Drywall Walls
Cooling
  1. See Remarks
Country
  1. US
Days On Market
  1. 197
Direction Faces
  1. South
Electric Expense
  1. 800.00
Entry Location
  1. front
Fireplace Features
  1. None
Flooring
  1. Carpet
  2. Laminate
  3. Tile
  4. Vinyl
Garage Spaces
  1. 2.00
Heating
  1. Central
  2. Combination
  3. Wall Furnace
Insurance Expense
  1. 3500.00
Interior Features
  1. Balcony
  2. Living Room Balcony
  3. Storage
Laundry Features
  1. Inside
Lockboxtype
  1. None
Lot Features
  1. Lot 6500-9999
  2. Rectangular Lot
  3. No Landscaping
Netoperatingincome
  1. 99717.00
Otherexpense
  1. 5000.00
Otherexpensedescription
  1. utilitie
Parcel Number
  1. 5406022015
Parking Features
  1. Assigned
  2. Carport
  3. Attached Carport
  4. Detached Carport
  5. Covered
  6. Direct Garage Access
  7. Concrete
  8. Paved
  9. Garage
  10. Garage Faces Front
  11. Garage - Single Door
  12. On Site
  13. Parking Space
Pool Features
  1. None
Postalcodeplus4
  1. 1395
Professionalmanagementexpense
  1. 0.00
Property Type
  1. Apartment
Security Features
  1. Carbon Monoxide Detector(s)
  2. Smoke Detector(s)
  3. Window Bars
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 415780041:CRM
Spa Features
  1. None
Suppliesexpense
  1. 1500.00
Tenant Pays
  1. Electricity
  2. Gas
  3. Telephone
Totalexpenses
  1. 33212.00
Trash Expense
  1. 1600.00
Uncovered Spaces
  1. 5.00
Utilities
  1. Electricity Available
  2. Natural Gas Connected
  3. Sewer Connected
  4. Water Available
View
  1. City Lights
  2. Neighborhood
Water Sewer Expense
  1. 2600.00
Water Source
  1. Public
Year Built
  1. 1992
Year Built Source
  1. Assessor
Zoning
  1. LARD1.5
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Mobile: 714.478.6676
  5. Fax: 714.975.9953
  6. salesbyxavier@gmail.com
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