6613 S Figueroa, Los Angeles, California 90003, Los Angeles, 90003 - bed, bath
ACTIVE UNDER CONTRACT$770,000
6613 S Figueroa, Los Angeles, California 90003
0Bed
0Bath
4,224Sqft
4,803Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Multifamily Investment: A 4-unit building offering multiple income streams and diversification, ideal for investors seeking residential income properties.
Top Cons:
Age of Property: Built in 1949, the property likely requires significant updates to systems and aesthetics, potentially incurring substantial renovation costs.
Compared to the nearby listings
Price:$770.0K vs avg $750.0K (+$20,000)52%
Size:4,224 sqft vs avg 1,902.5 sqft95%
Price/sqft:$182 vs avg $3655%
More Insights
Built in 1949 (76 years old).
Condition: Built in 1949, this property is explicitly marketed as an investment opportunity requiring renovation and repositioning. The exterior images show significant wear, cracked stucco, dated security features, and unkempt grounds, indicating substantial deferred maintenance. The absence of interior photos suggests the kitchens, bathrooms, and other living spaces are likely in very poor, outdated, or even damaged condition, requiring extensive repairs and rehabilitation.
Year Built
1949
Close
-
List price
$770K
Original List price
$770K
Price/Sqft
$182
HOA
-
Days on market
-
Sold On
-
MLS number
DW25263571
Home ConditionPoor
Features
Patio
View-
About this home
Great multifamily investment opportunity, ideal for investors looking to renovate, reposition, or hold long-term. This 4-unit building features two spacious 3BD/2BA units, one 2BD/1BA unit, and one 1BD/1BA unit. Conveniently located minutes from major transportation routes, Downtown LA, USC, and the 110 Freeway. With strong rental demand and continued area growth, this property offers significant upside potential for the savvy investor.
Price History
Date
Event
Price
05/26/17
Sold
$550,000
11/09/09
Sold
$310,000
01/05/06
Sold
$660,000
Condition Rating
Poor
Built in 1949, this property is explicitly marketed as an investment opportunity requiring renovation and repositioning. The exterior images show significant wear, cracked stucco, dated security features, and unkempt grounds, indicating substantial deferred maintenance. The absence of interior photos suggests the kitchens, bathrooms, and other living spaces are likely in very poor, outdated, or even damaged condition, requiring extensive repairs and rehabilitation.
Pros & Cons
Pros
Multifamily Investment: A 4-unit building offering multiple income streams and diversification, ideal for investors seeking residential income properties.
Prime Location: Conveniently located minutes from major transportation routes, Downtown LA, USC, and the 110 Freeway, enhancing tenant appeal and demand.
Strong Market Conditions: Benefits from strong rental demand and continued area growth, indicating a robust market for rental properties.
Significant Upside Potential: Offers substantial opportunity for value appreciation through renovation and repositioning, appealing to savvy investors.
Diverse Unit Mix: Features a varied unit composition (two 3BD/2BA, one 2BD/1BA, one 1BD/1BA) catering to a broad tenant base.
Cons
Age of Property: Built in 1949, the property likely requires significant updates to systems and aesthetics, potentially incurring substantial renovation costs.
Renovation Required: Explicitly marketed for investors looking to 'renovate, reposition,' indicating it is not a turn-key asset and demands considerable capital expenditure and project management.
Potential for Deferred Maintenance: Given its age and investment-focused description, there is a high likelihood of deferred maintenance issues that will need to be addressed, adding to the overall investment.