3405 N Figueroa ST, Los Angeles, CA 90065
3405 N Figueroa ST, Los Angeles, CA 90065
3405 N Figueroa ST, Los Angeles, CA 90065
30
See all 30 photos
$6,450,000
Est. payment /mo
Save
52 Beds
29 Baths
20,188 SqFt
Pending

3405 N Figueroa ST Los Angeles, CA 90065

Save
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Herb Rim

Herb Rim

+1(818) 699-9179

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Pending

Purchase Type For Sale

Square Footage 20,188 sqft

Price per Sqft $319

MLS Listing ID 26844469

Bedrooms 52

HOA Y/N No

Year Built 1988

Lot Size 0.575 Acres

Property Description

We are pleased to present the opportunity to acquire 3401-3405 N. Figueroa Street, a rare mixed use asset located in the highly sought after Cypress Park neighborhood of Los Angeles. Offered for sale for the first time since its development, the property consists of a 26 unit apartment community and two commercial spaces situated across two separate parcels, providing investors with operational flexibility and future value enhancement potential. The asset is being offered at $248,077 per unit and $319 per square foot, representing an attractive 10.37 GRM and 5.47% capitalization rate on current operations. Constructed in 1988, the residential component features an attractive unit mix of one (1) 1 Bedroom/1 Bathroom unit, twenty two (22) 2 Bedroom/1 Bathroom units, two (2) 2 Bedroom/2 Bathroom units, and one (1) 3 Bedroom/2 Bathroom unit. The commercial component includes a restaurant space and an additional commercial suite that is currently vacant, creating an immediate lease up opportunity for a new owner. The property contains approximately 20,188 rentable square feet on a 25,045 square foot LARD2 zoned lot and benefits from two separate APNs, offering potential ownership, financing, or disposition flexibility. Additionally, the asset provides 52 parking spaces, giving each residential unit one tandem parking space. A key investment highlight is the property's 1980s construction, exempting the residential units from the City of Los Angeles Rent Stabilization Ordinance (RSO). Instead, the property is subject only to California's statewide rent control regulations under AB 1482, allowing ownership to increase rents annually by up to 5% plus CPI, subject to state guidelines. Combined with approximately 27% rental upside, a desirable unit mix, and diversified mixed use income, the offering presents an attractive opportunity for investors seeking long term growth and stable cash flow. Ideally located along the N. Figueroa Street corridor, the property is adjacent to Florence Nightingale Middle School and near a growing collection of restaurants, cafes, retail destinations, and neighborhood amenities. Cypress Park continues to experience strong demand driven by ongoing revitalization, limited supply, and increasing interest from both residents and businesses, making opportunities of this scale and quality increasingly rare.

Location

State CA

County Los Angeles

Area Cypk - Cypress Park

Zoning LARD2

Interior

Interior Features Ceiling Fan(s)

Heating Wall Furnace

Fireplaces Type None

Fireplace No

Appliance Refrigerator

Laundry None

Exterior

Parking Features Garage, Tandem

Pool None

View Y/N Yes

View City Lights

Roof Type Mansard

Total Parking Spaces 52

Private Pool No

Building

Story 3

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5446004002

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by Tony Sameyah Lyon Stahl Investment Real Estate, Inc. #02015965

Go tour this home

3405 N Figueroa ST

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

Herb Rim

Herb Rim

Realtor License ID: 01870707

+1(818) 699-9179

Name
Phone*
Message

By checking this box, I agree to receive recurring marketing communication from Herb Rim, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

By checking this box, I agree to the Terms of Service and Privacy Policy of this website.

Experience Matters

Our team offers expert guidance and personalized service to make buying, selling, or investing in property smooth and stress-free. With deep market knowledge and a commitment to clear communication, we focus on achieving your real estate goals efficiently and effectively.

Trust

the best

  • 100
    Homes for Sale
  • $100000
    Sales Price
  • 100
    Total Listings
  • $100000
    Average Listing Price
};