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3830 S Figueroa Street, Los Angeles, California 90037, Los Angeles, 90037 - bed, bath

3830 S Figueroa Street, Los Angeles, California 90037 home-pic-0
ACTIVE$2,600,000
3830 S Figueroa Street, Los Angeles, California 90037
0Bed
0Bath
3,584Sqft
7,010Lot
Year Built
1923
Close
-
List price
$2.6M
Original List price
$4.66M
Price/Sqft
$725
HOA
-
Days on market
-
Sold On
-
MLS number
PW25073359
Home ConditionPoor
Features
ViewNeighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $2.60M(96th), sqft - 3584(70th), beds - undefined(50th), baths - undefined(50th).

Multi-Family 3-Unit. Located in a prime Location nearby Downtown LA. This is an outstanding opportunity for an investor or a developer. This property is located across from the BMO Stadium, The Lucas museum of Narrative Art, that will open in 2026. Natural History Museum, Rose Garden and Science Center. Also is nearby Metro Expo Line, walking distance to the University Of Southern California and 110 Freeway. Zoning regulation is LAC2, suitable for future potential development. The rental market in this area has tremendous upside. The 3-Units consist of 3 addresses 3830, 3830 1/2, and 3832. Has 3-bedrooms and 2-bathrooms upstairs and 2 units down stairs with 1-bedroom and 1-bathroom each. The upstairs unit is the only one that has a separate private entry & exit area through back which leads to the garages and open parking area. Has 3 gas meters, 3 electrical meters and 1 water meter. All the units don't have air condition. There is a 4-car garage in the back yard. All units have inside laundry hook ups. All the units are occupied by the owners, therefore there is no operating expenses and income information on the MLS. There are 2 commercial advertising signs in front of this property that produces a monthly income.

Price History

Date
Event
Price
09/19/25
Price Change
$2,600,000
04/04/25
Listing
$4,657,500
Condition Rating
Poor
This property, built in 1923, is over 100 years old and shows significant signs of age and deferred maintenance. The kitchens feature severely outdated cabinets, tiled countertops, and old appliances, with visible water damage above one sink. Bathrooms are equally dated with old tile work and basic fixtures, including a washing machine in one. Flooring is a mix of worn hardwood, dated tile, and stained carpet. A major functional deficiency is the complete lack of air conditioning in all units. Exposed conduit in a bedroom suggests outdated electrical systems. Overall, the property requires substantial repairs and rehabilitation to address its many defects and bring it to a comfortable, modern living standard.
Pros & Cons

Pros

Prime Location & Accessibility: Strategically located near Downtown LA, major attractions like BMO Stadium and the upcoming Lucas Museum, USC, Metro Expo Line, and the 110 Freeway, ensuring high demand and excellent connectivity for tenants.
Strong Development Potential: The LAC2 zoning and a substantial 7,010 sqft lot offer significant upside for future development or expansion, appealing to both investors and developers.
Multi-Unit Income Property: As a triplex with three distinct units (one 3B/2B and two 1B/1B), it provides immediate rental income potential and diversification for an investor.
Additional Income Stream: The presence of two commercial advertising signs on the property generates supplementary monthly income, enhancing the overall cash flow and investment return.
Individual Utility Metering & Amenities: Separate gas and electrical meters for each unit simplify tenant billing, complemented by a 4-car garage and in-unit laundry hookups, adding significant tenant appeal and operational efficiency.

Cons

Lack of Modern Amenities: None of the units are equipped with air conditioning, which is a significant drawback in the Los Angeles climate and may require substantial investment to install for tenant comfort and market competitiveness.
No Current Income/Expense Data: All units are owner-occupied, meaning there is no existing rental income or operating expense history available, making immediate cash flow projections and due diligence challenging for investors.
Age and Potential for Capital Expenditures: Built in 1923, the property is over a century old, likely requiring significant capital expenditures for modernization, system upgrades, and potential deferred maintenance to optimize its value and tenant appeal.

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