6417 Figueroa StLos Angeles, CA 90042

Property Details for 6417 Figueroa St

Year built

2018

Construction

WOOD

Lot size

0.54 AC

Property size (Sq ft)

24,283 SF

Zone code

LARD1.5

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

5493-004-028

APU

5493004028

Description

This exceptional 21-unit apartment building, constructed in 2020, presents a rare investment opportunity in Los Angeles' vibrant Highland Park neighborhood. The modern, design-centric complex boasts a total of 19,732 square feet on a 0.54-acre lot, featuring a mix of seven one-bedroom, one-and-a-half-bathroom units and fourteen two-bedroom, two-and-a-half-bathroom units. Each unit offers approximately 1,000 square feet of living space, highlighted by high ceilings, in-unit washer/dryers, stainless steel appliances, recessed lighting, and polished concrete floors. Many units include private balconies. Community amenities are extensive and include covered gated parking, a fully equipped gym, a secure package room, EV charging stations, and a well-maintained outdoor courtyard. The property benefits from comprehensive surveillance cameras for enhanced security. Its convenient location near the 110 freeway provides easy access to Downtown Los Angeles, South Pasadena, Pasadena, and the San Gabriel Valley. Currently vacant, this property is zoned LARD1.5 and offers significant potential for immediate income generation. Assumable financing is available with a fixed interest rate of 3.57%, loan amount of $8,011,000, a 120-month term, a 72-month interest-only period, and an origination date of May 26, 2021 (Fannie Mae). This is a turnkey opportunity to acquire a premier multifamily asset in a high-demand location. The property's APN is 5493-004-028.

• CAP approach

  CAP return

  Valuation

  6%

  $9,814,085

  6.5%

  $9,059,156

  7%

  $8,412,073

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,157,366

  Geo Method

  $7,157,366

• Alternative Use

  Use

  Valuation

  Residential

  $9,059,156

  Hospitality

  $8,298,138

  Educational

  $6,903,954

  Medical

  $7,141,391

  Retail

  $10,739,483

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.1184

Longitude

-118.184

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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