1053 Figueroa Ter, Los Angeles, CA 90012

Presenting a rare opportunity to acquire this attractive 1992 custom-built and meticulously crafted, 5unit, city view apartment complex. Located adjacent to the iconic Echo Park, Chinatown and Silverlake areas of Los Angeles, and positioned strategically and conveniently near the #5,,2,134,110 &101 freeways, &rapid transit including the Gold Line & bus routes. It is situated in a trendy and up-and-coming strong rental market amidst DTLA, Silverlake, Dodger Stadium,Echo Park & the Financial District Neighborhoods with major employers including USC,Good Samaritan Hosiptal,Paramount Studios & the LA Fashion&Arts Districts & much more. The property offers an excellent opportunity for discerning homeowners or investors to secure a true value-added asset in a highly coveted locale. Comprising 3 stories with a total building size of 7,658 sq.ft/assessor, all units are spacious & the apartment complex boasts a desirable unit mix including an OWNER unit of approx.2,641 sq.ft. (delivered vacant
upon close of escrow with new paint & carpet throughout) featuring a 3-br,3.5bth townhome style front unit with an office/den(could be used as a 4th bedroom), large recreation room,spacious, laundry area,ample storage rooms, a 2car attached garage.The outside laundry & storage rooms with best possibilities for ADU are utility ready with windows & drywalls.
Buyer to investigate feasibility , seller makes no guarantees & no warranties. The remaining 4U are an ideal mix of two larger (over 1,100sq.ft ea)3br,2bth U and two good sized 2br,1bth unit. Each unit boasts an excellent layout, individual water heaters, and separate metering for gas and electricity utilities, ensuring convenience and efficiency. All 4 units are occupied by long-term tenants on month to month leases. Rent comparable reports indicate a positive upside and added investment potential. Property is not under city's Rent Stabilization Ordinance(RSO), but subject to State Rent Control AB1482and Just Cause Ordinance(JCO). Buyer to Investigate , seller makes no warranties. Ample parking includes 3 covered spaces & 5 open parking spaces. Residents benefit from an array of culinary delights, cultural experiences, and artistic exhibitions for all investors, owners and professionals, further enriching the allure of this investment opportunity. Now is the time to seize this exceptional offering in one of the Los Angeles most dynamic and sought after neighborhoods. Drive By Only . Owner unit could be shown with 24 hours advanced notice. Broker and agent do not guarantee the accuracy of the square footage, lot size, permits, or/and all/any other information concerning the property provided by the seller, agents or obtained from public records or other sources. Buyer is advised to independently verify the accuracy of all information.