Description

6.74% CAP 15-unit on South Fig with upside! Assumable loan available at 3.500% fixed through June, 2026. 7,591 SF property consists of eight one bedroom/one bathroom units, three two bedroom/one bathroom units, and four studios. With immediate accessibility from the 110 and105 Freeways, 10961-10965 S Figueroa St. is very walkable from schools, retail shops, and restaurants. 45% upside in current rents leaves plenty potential for future ownership. Thirteen units have been turned over since acquisition, with renovations done including: Exterior paint, exterior lights, parking striping, rear stairwell redone, and a new surveillance system installed. This property also includes attached garages with the potential to add 2 ADUs (buyer to investigate). Ample parking is available with ten surface spaces. This property is under a 30 minute drive from University of Southern California and LAX, and just 5 minutes from Cal State Dominguez Hills. 3.5 miles to the southwest of 10961-10965 S. Figueroa St. is Torrance Airport and SpaceX Headquarters, located in the Los Angeles suburb of Hawthorne, California. The neighborhood’s economic growth, new developments, rich diversity, and cultural vibrancy have made it a popular destination for residents, businesses, and visitors alike.