9230 S Figueroa
Property Description
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.
Broker Details
Dream Team Real Estate Consultants. Inc (818) 380-5100
MLS ID: SR207068126 State License Number: 02112359
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $999,000 |
| No. of Units: | 4 |
| Year Built: | 1957 |
| Opportunity Zone: | No |
| Price per unit: | $249,750 |
| Number of Bedrooms: | 8 |
| Number of Bathrooms: | 5 |
ID: 3yd-MRMLSCA-SR26137338
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