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6616 S Figueroa Street, Los Angeles, California 90003, Los Angeles, 90003 - bed, bath

6616 S Figueroa Street, Los Angeles, California 90003 home-pic-0
ACTIVE$1,199,000
6616 S Figueroa Street, Los Angeles, California 90003
0Bed
0Bath
3,408Sqft
4,200Lot
Year Built
2018
Close
-
List price
$1.2M
Original List price
$1.35M
Price/Sqft
$352
HOA
-
Days on market
-
Sold On
-
MLS number
PW24156942
Home ConditionExcellent
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.20M(93th), sqft - 3408(90th), beds - undefined(50th), baths - undefined(50th).

DRASTIC PRICE REDUCTION as of 12.11.24 FOR A FAST SALE! , NO RENT CONTROLLED !!, Three Bed. two bath townhouse style duplex on the front, one unit two bed. one bath on top of garages on the back , all units feature central air and heat, laminated and porcelain floors. Low maintenance property with separated metered for water, gas, and electricity (tenants pay for all utilities), owner only pays for common area lights and gate , one of a kind excellent investments with high Net Operating Income. A turn key property, Excellent conditions, no capital improvements necessary, buy and start immediately collecting rent. ADU potential by converting the garages on the back for extra income. Please do not disturb or contact tenants, seller is offering two none-occupied units.

Price History

Date
Event
Price
05/22/17
Sold
$160,000
Condition Rating
Excellent
The property was built in 2018, making it only 6 years old, which falls well within the 'built within 10 years' criteria for an excellent rating. The listing explicitly states 'Excellent conditions, no capital improvements necessary' and describes it as a 'turn key property.' It features modern amenities such as central air and heat, laminated, and porcelain floors throughout, indicating new or virtually new components meeting current quality standards with no deferred maintenance.
Pros & Cons

Pros

No Rent Control: The property is explicitly stated as 'NO RENT CONTROLLED', a significant advantage in Los Angeles, allowing for market-rate rent adjustments and maximizing income potential.
Turnkey & Low Maintenance: Built in 2018, the property is described as 'turn key' with 'excellent conditions, no capital improvements necessary'. Tenants pay for all utilities, leading to low owner operating costs and high Net Operating Income.
Modern Construction & Amenities: As a 2018 build, all units feature modern amenities including central air and heat, laminated, and porcelain floors, appealing to tenants and reducing immediate upgrade needs.
Income-Generating Triplex with ADU Potential: The property is a triplex (duplex + unit above garages) offering multiple income streams, with additional 'ADU potential by converting the garages' for future revenue growth.
Motivated Seller & Vacant Units: A 'DRASTIC PRICE REDUCTION' signals a motivated seller, and the offering of 'two none-occupied units' provides immediate flexibility for a new owner, whether for owner-occupancy or quick re-tenanting.

Cons

Location on Major Thoroughfare: The property's address on S Figueroa Street, a major arterial road, may expose residents to increased traffic noise and a less residential environment compared to properties on quieter streets.
Tenant Access Limitations: The instruction 'Please do not disturb or contact tenants' for the occupied unit could complicate thorough inspections, appraisals, and showings for prospective buyers during the due diligence phase.
Unrealized ADU Conversion Costs: While ADU potential is a strength, converting the garages will require additional capital investment, permits, and time, which are not included in the current purchase price and represent future expenses for the buyer.

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