9230 S Figueroa, Los Angeles, California 90003, Los Angeles, 90003 - 0 bed, 0 bath
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Los Angeles, California 90003
This 1957-built Quadruplex represents a High-Potential Investment Opportunity, listed at a List Price of $999,000—positioned well below the $972,765 Fair Market Value. Featuring a Condition Rating of 4, the asset offers immediate upside through a nearly completed 1BD/1BA ADU and frictionless unit turnovers. With a documented path to an 8% cap rate and strategic proximity to the SoFi/Inglewood growth corridor, this property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to leverage RSO-compliant rent growth and utility bill-back strategies.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 9230 S Figueroa Subject | $999,000* List Price | 0 | 0 | 3,792 | $257 | - |
A 147 - 149 E 105th Street Sold | $1,000,000 | 0 | 0 | 3,306 | $302 | 0.9 mi |
B 146 E 89th Street Sold | $790,000 | 0 | 0 | 3,522 | $224 | 0.6 mi |
C 212 W 84th Sold | $875,000 | 0 | 0 | 3,952 | $221 | 0.8 mi |
D 213 E 87th Pl Sold | $739,000 | 0 | 0 | 2,723 | $271 | 0.8 mi |
E 126 E 89th Active | $899,999 List Price | 0 | 0 | 3,204 | $281 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is a 1957 build (>20 years) and is marketed as a 'value-add' opportunity. While interior photos show at least one unit has been recently renovated with modern flooring and paint, the description indicates other units are occupied by long-tenured tenants and likely remain in a dated condition. The exterior stucco and concrete show visible aging and wear consistent with a property needing minor cosmetic updates and maintenance.
A fifth unit (1BD/1BA ADU) is currently in the final inspection phase, providing a clear and near-term path to converting the asset into a legal 5-plex with an estimated $1,900/month in additional revenue.
Two units are scheduled for voluntary turnover in the coming months with no relocation or buyout costs, allowing a buyer to immediately reset to market rents or owner-occupy without legal friction.
The property offers a documented path to a stabilized ~8% cap rate, supported by utility bill-back (RUBS) opportunities and a strategic location near the USC and SoFi Stadium growth corridors.
The property is subject to Los Angeles Rent Stabilization Ordinance (RSO), which limits annual rent increases and imposes strict tenant protections on the long-term, below-market units.
The 'drive-by only' restriction and 'do not disturb tenants' requirement limit a buyer's ability to conduct a thorough physical inspection of all interior units prior to entering a contract.
PRICED UNDER $1M — RARE SOUTH L.A. VALUE-ADD WITH NEAR-TERM UPSIDE. 9230 S Figueroa is a 1957-built fourplex on a 5,548 SF LARD2 lot, offered at $999,000 ($249,750/unit). A fifth unit (ADU, 1BD/1BA) is UNDER CONSTRUCTION and in its FINAL INSPECTION PHASE — projected to add ~$1,900/mo upon certificate of occupancy, converting the asset to a legal 5-plex. Exceptional FRICTION-FREE upside: Units 4 ($2,100) and 2 ($1,800) are scheduled to vacate in July and October — voluntary turnovers with NO relocation or buyout cost — letting a buyer reset to market or owner-occupy. Long-term stability is anchored by two below-market, long-tenured RSO units (one reliable Section 8 placement). Added value-add levers: utility bill-back (RUBS) to recover owner-paid utilities, plus predictable RSO/CPI rent growth and vacancy decontrol on future move-outs. Current 4-unit gross $84,012/yr with a clear, documented path to a stabilized ~8% pro-forma cap. Minutes to the 110 & 105 Freeways, USC/Exposition Park, and the SoFi/Inglewood growth corridor. Full OM, rent roll & operating statement available. Buyer to verify units, ADU permits/C of O, rents, RSO status & square footage. Drive-by only — DO NOT DISTURB TENANTS.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 5.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 3,792 | 2,250 |
| Lot Size | 5,550 | 5,864 |
| Price | $999.0K | $826.7K |
| Price per sq ft | $263 | $395 |
| Built year | 1957 | 1925 |
| HOA | $0 | $0 |
| Days on market | 28 | 83 |
Jun 24, 2026
$999,000
Initial Listing
May 14, 2021
$995,000
Public Record
Jan 18, 2008
$450,000
Public Record
Oct 27, 2005
$660,000
Public Record
Jun 10, 2005
$540,000
Public Record
Nov 4, 2004
$500,000
Public Record