Homes for sale - 1053 Figueroa TER, Los Angeles, CA 90012

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Shawn Kormondy

skor@skorreg.com +1(323) 638-7567

$1,999,800

Est. payment - /mo

7,426 Sqft Lot

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UPDATED:

01/03/2025 05:15 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID WS24254754

HOA Y/N No

Year Built 1992

Lot Size 7,426 Sqft

Property Description

Presenting a rare opportunity to own this attractive 1992 custom-built 5-units, with a large and private townhouse style owner's front unit with city views & a 2-car attached garage with direct access to the unit. Stable and below market income with plenty of upside potential and possibility to convert some space to ADU's for additional income. Buyer to investigate feasibility, seller makes no guarantees and no warranties.Located close to iconic Chinatown, booming Echo Park and Silverlake areas of DTLA, and near several freeway access and rapid transit routes. Trendy and strong rental market. Major employers including USC, Dodgers Stadium, Good Samaritan Hospital, and the Los Angeles Fashion and Arts Districts, and many more. It is also near the Music Center, Disney Concert Hall, Broad Museum and other downtown attractions. This property offers an excellent opportunity for the discerning homeowner or investors to secure a true value-added asset in a highly coveted area. Surrounding neighborhood boasts large future development projects and many existing condominiums valued at $1 million or more. Comprising three stories with a total building size of 7,658 square feet per assessor, all units are spacious and the apartment complex boasts a desirable unit mix including the owner's unit measured approx. 2,641sq ft. (with new paint and carpet throughout) with 3-bedroom, 3.5-bathroom with an office/den (could be a 4th bedroom), two walk-in closets, large recreation room, laundry room, and ample storage rooms. The remaining four units is an ideal mix of two spacious 3-bedroom, 2-bathroom units and two good-sized 2-bedroom, 1-bathroom units. Each unit has individual water heaters, and separate metering for gas and electricity. All 4 units are occupied by tenants on month-to-month leases. Rent comparable reports indicate a positive upside and added investment potential. Property is not under city rent control ordinance (RSO), but subject to State Rent Control & just caused ordinance (JCO). Buyer to investigate.Ample parking includes 3 covered spaces, 5 open parking spaces and owner unit 2 car attached garage. Residents benefit from an array of culinary delights, cultural experiences, and artistic exhibitions for all. Now is the time to seize this exceptional offering in one of Los Angeles' most dynamic and sought-after neighborhoods.

Location

State CA

County Los Angeles

Area C21 - Silver Lake - Echo Park

Zoning LARD1.5

Rooms

Other Rooms Storage

Interior

Interior Features Balcony, Storage, Jack and Jill Bath, Primary Suite, Walk-In Closet(s)

Heating Combination, Central, Wall Furnace

Cooling See Remarks

Flooring Carpet, Laminate, Tile, Vinyl

Fireplaces Type None

Fireplace No

Appliance Dishwasher, Free-Standing Range, Disposal, Range Hood, Water Heater

Laundry Inside

Exterior

Exterior Feature Rain Gutters

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

Garage Spaces 2.0

Carport Spaces 3

Garage Description 2.0

Pool None

Community Features Street Lights, Sidewalks

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

View Y/N Yes

View City Lights, Neighborhood

Roof Type Flat,Mixed,Shingle,Tile

Total Parking Spaces 10

Private Pool No

Building

Lot Description No Landscaping, Rectangular Lot

Faces South

Story 3

Sewer Public Sewer

Water Public

Architectural Style Custom

Additional Building Storage

New Construction No

Others

Senior Community No

Tax ID 5406022015

Security Features Carbon Monoxide Detector(s),Fire Sprinkler System,Smoke Detector(s),Window Bars

Acceptable Financing Cash, Cash to New Loan, Conventional

Listing Terms Cash, Cash to New Loan, Conventional

Special Listing Condition Standard

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Listed by YAN CHOW • RE/MAX PREMIER/SANMARINO • 626-807-6800

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Shawn Kormondy

+1(323) 638-7567

Agent | License ID: 01451888

Agent License ID: 01451888

1053 Figueroa TER Los Angeles, CA 90012

Shawn Kormondy

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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