7404 S Figueroa Street, Los Angeles, CA 90003

Located on South Figueroa Street in South Los Angeles, this cash-flowing covered land opportunity is an amazing opportunity for a developer seeking in-place cash flow while seeking entitlements. Currently, the property contains (6) – 2 bed / 1 bath units with a strong cap rate of 6.22% in-place. As a development site, there is potential to develop a 100% affordable apartment building containing 157 units (buyer to verify). The identical neighboring property received approvals for 157 units and sold in September of 2023 for $3,910,039.