Property profile & analytics
7404 Figueroa St Los Angeles, CA 90003-1735
- Apartment buildings
- 4,296 SF
- 0.27 lot acres
OFF-MARKET
Last Sale
Aug 23, 2022
Aug 23, 2022
$985,009
Value Estimations
$950,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US09-8575565
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Current Use by Public Records
- Apartment buildings
Property Details for 7404 Figueroa St
- Year built
- 1923
- Construction
- WOOD
- Lot size
- 0.27 lot acres
- Property size
- 4,296 SF
- Zone code
- LAC2
- Property type
- Apartment buildings
- APN
- 6020-031-010
- APU
- 6020031010
Description
This exceptional multifamily investment property, located at 7404 S Figueroa St, Los Angeles, CA 90003, presents a unique blend of immediate cash flow and significant long-term development potential. Currently operating as a six-unit apartment building (three buildings total, 4,269 square feet) with a strong 6.22% cap rate and a net operating income (NOI) of $113,466, the property offers a solid return on investment from day one. Each unit features two bedrooms and one bathroom, and utilities are individually metered for gas and electric. The property boasts a 11,600 square foot lot, priced at $157 per square foot of land value, and is zoned LAC2-1VL. A pro-forma analysis projects a 6.96% cap rate and a NOI of $127,009. Importantly, the property enjoys a convenient location with easy access to the 110 Freeway and benefits from no trash expenses for the owner. The true potential lies in the redevelopment opportunity. Based on a comparable sale of an identical neighboring property in September 2023 ($3,910,039), the site has the potential to be developed into a 157-unit, 100% affordable apartment building (buyer to verify entitlements). This translates to a price per buildable unit of $11,624. The asking price for this exceptional property is $1,825,000, or $304,167 per unit. This is a rare chance to acquire a cash-flowing asset with substantial upside potential in a rapidly developing area of Los Angeles.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $760,000
- ML approach
- $835,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,189,000
Market price range: $418k - $1.19M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $815,000 Current use
- WAREHOUSE, STORAGE
- $1,200,000 Change: +47% Conversion: Difficult
- RETAIL STORES
- $1,070,000 Change: +31% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $840,000 Change: +3% Conversion: Moderate
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.282
- Latitude
- 33.9724
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$13,287
$816,000
$188,700
$1,004,700
-
$0.00
$0.00
$0.00
