Mixed-Use Apartment and Retail
For Sale
Contact for pricing
3401-3405 N Figueroa St, Los Angeles, CA 90065
26-unit apartment community with restaurant space, a vacant commercial suite, and 52 parking spaces for residents.
Property Size20,188 SF
Lot Size0.58 Acres
Price / SF$319.50
Days on Market58
Property Features for 3401-3405 N Figueroa St
General Information
Standard status
Active
Size
20,188 SF
Total Parking Spaces
52
Lot size
0.58 Acres
Property subtype
Multifamily, Mixed Use
Zoning
LARD2
Additional Details
Cap Rate
5.47%
Multifamily Units
26
Building Details
Year Built
1980
Tenancy
Multi
Listing Agency:
Lyon Stahl
(310) 425-9838
Listed By:
David Saghian · License #01992252
Source:
Crexi
Added: Jun 10
Changed: Jul 10
Last Checked: Aug 5 at 3:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lyon Stahl
Investment Insights
Based on property information with market context.
The property at 3401–3405 N Figueroa Street is a mixed-use asset consisting of a 26-unit apartment community and two commercial spaces across two separate parcels. Constructed in 1988, the residential component includes one 1 bed/1 bath unit, twenty-two 2 bed/1 bath units, two 2 bed/2 bath units, and one 3 bed/2 bath unit. There is also a restaurant space and an additional commercial suite that is currently vacant, providing flexibility for a new owner. The property includes approximately 20,188 rentable square feet and sits on a 25,045 square foot LARD2 zoned lot. The offering provides 52 parking spaces, with each residential unit receiving one tandem parking space.
The building is located along the N. Figueroa Street corridor in the Cypress Park neighborhood of Los Angeles. It is adjacent to Florence Nightingale Middle School and near a mix of restaurants, cafes, retail destinations, and other neighborhood amenities. The two commercial/land parcels are supported by two separate APNs.
For investors or operators, the combination of in-place apartment income and dedicated commercial space can support a diversified operating platform. The presence of a currently vacant commercial suite may allow for new leasing activity following acquisition. The residential units are described as exempt from the City of Los Angeles Rent Stabilization Ordinance (RSO) due to 1980s construction, with the property subject only to California’s statewide rent control regulations under AB 1482, as described in the offering materials.
The building is located along the N. Figueroa Street corridor in the Cypress Park neighborhood of Los Angeles. It is adjacent to Florence Nightingale Middle School and near a mix of restaurants, cafes, retail destinations, and other neighborhood amenities. The two commercial/land parcels are supported by two separate APNs.
For investors or operators, the combination of in-place apartment income and dedicated commercial space can support a diversified operating platform. The presence of a currently vacant commercial suite may allow for new leasing activity following acquisition. The residential units are described as exempt from the City of Los Angeles Rent Stabilization Ordinance (RSO) due to 1980s construction, with the property subject only to California’s statewide rent control regulations under AB 1482, as described in the offering materials.
Key Highlights
- 26‑unit apartment community built in 1980 with unit mix of 1 1BD/1BA, 22 2BD/1BA, 2 2BD/2BA, and 1 3BD/2BA
- Mixed‑use income: restaurant space plus an additional commercial suite currently vacant
- Approx. 20,188 rentable SF on a 25,045 SF LARD2 zoned lot with two separate APNs
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $746.1k | $36.96 |
| − Vacancy | −$17.2k | −$0.85 |
| EGI | $729.0k | $36.11 |
| − OpEx | −$182.2k | −$9.03 |
| NOI | $546.7k | $27.08 |
20,188 SF · lease $36.96/SF/yr · vacancy 2.30% · expense 25.00%
Alternative Uses
Best Use
Apartment 5plus
$356.91M
$312.30M – $416.40M
NOI $24,983,741 @ 7.0% cap · market cap 387.34%
Second Best
Specialty Retail
$7.81M
$6.83M – $9.11M
NOI $546,740 @ 7.0% cap · market cap 8.48%
Theoretical Best
Multifamily LT 5
$409.00M
$357.87M – $477.16M
NOI $28,629,773 @ 7.0% cap · market cap 443.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
26
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,634
Businesses Nearby
Explore this area
Business Placement
Demographics for 90065, CA
44,328
Population
17,197
Households
2.6
Avg Household Size
39
Median Age
40%
College-Educated
81%
High-School Grad
5.5 sq mi
ZIP Area
8,060
Density / Sq Mi
$92,903
Median Household Income
$45,850
Median Earnings
$1,774
Median Rent
$1,043,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 26-unit apartment community with restaurant space, a vacant commercial suite, and 52 parking spaces for residents.
Where is this apartment building located?
The property is located at 3401-3405 N Figueroa St Los Angeles, CA.
What is the asking price?
The asking price for this property is $6,450,000.
What are key features of this property?
This property features: 26‑unit apartment community built in 1980 with unit mix of 1 1BD/1BA, 22 2BD/1BA, 2 2BD/2BA, and 1 3BD/2BA; Mixed‑use income: restaurant space plus an additional commercial suite currently vacant; Approx. 20,188 rentable SF on a 25,045 SF LARD2 zoned lot with two separate APNs
