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We are pleased to present a rare non-RSO investment opportunity with the sale of 8307 S. Figueroa Street, a 9-unit multifamily property nestled in the Vermont Knolls neighborhood of South Los Angeles. Constructed in 1991, this newly painted three-story building offers an expansive 7,584 square feet of rentable space stands on a generous 7,499 square-foot lot zoned LAC2-1VL-CPIO as well as a Tier 2 TOC Bonus. 8307 S. Figueroa features a unit mix of exclusively 2-bedroom units, including eight 2-bedroom/1-bathroom units and one 2-bedroom/1.5-bathroom unit. The property is 100% occupied with an average rent of $2,154 per unit and there is a notable rental upside potential of approximately 25%. Investors will benefit from the ability to raise rents 5% + CPI annually, which is currently 8.9% and capped at 10%. Security and convenience are paramount, with features such as each unit benefiting from individual water heaters and separate metering for gas and electricity, gated controlled access, and an on-site parking lot with 18 dedicated spaces that are exempt from earthquake & seismic retrofitting. For additional income streams, an astute investor can explore converting the parking area into multiple ADU's using SB 1211 (Buyer to verify). This property offers an excellent investment opportunity in a vibrant and densely populated submarket of South Los Angeles, where demand for rental units remains exceptionally high. Prospective buyers are advised to confirm all building records and data to ensure accuracy. Strategically located just north of Manchester Avenue and east of South Vermont Avenue, the property enjoys seamless connectivity to the 10 and 110 Freeways, facilitating convenient access to all corners of Greater Los Angeles. Tenants are also within a short distance to multiple bus stops along Figueroa St. and Manchester Blvd.
Property Type(s):
Residential Income
| Last Updated | 2/10/2025 | Year Built | 1991 |
|---|---|---|---|
| Community | Metropolitan Southwest | County | Los Angeles |
Price History
| Prior to Feb 10, '25 | $2,250,000 |
|---|---|
| Feb 10, '25 - Today | $2,195,000 |
Additional Details
| AREA | Metropolitan Southwest |
|---|---|
| GARAGE | Assigned, Community Structure, Covered, Garage, Gated, Tandem, Yes |
| HEAT | Wall Furnace |
| LOT | 7499 sq ft |
| PARKING | Assigned,Covered,Garage,Gated,Community Structure,Tandem |
| STORIES | 3 |
| ZONING | LAC2 |
Location
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Listed with Marcus & Millichap
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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