Exclusive Listings

6817-6819 N. Figueroa St. (71% Vacant 21u Apt. in Highland Park, Mostly 2b Units)

Address:
6817-6819 N. Figueroa St.
Los Angeles, CA 90042
Price:
$5,030,000
Status:
In-Contract
Type:
Apartment
# Units:
21
Year Built:
1954-1955
Building Size:
16,388 SF
Lot Size:
21,452 SF
CAP Rate:
6.46%
GRM:
10.67x
Price/Unit:
$239,500
Price/SqFt:
$307

Investment Highlights

• Well maintained by the current ownership over an approx.
45-year hold period.


• High-Vacancy (15/21 units vacant, 71% vacancy); unique
opportunity to realize tremendous rental upside through
rehab and renovation.


• Strategic location in a vibrant and growing Northeast LA
rental market poised for future rent growth.


• Strong proforma cap rate of 6.46% and 10.67 proforma GRM
post-rehab/renovation.


• Can be purchased individually or as part of a portfolio
along with the adjacent lots: 6079 La Prada St. (13-unit apt.
property) and 6801 N. Figueroa St. (4-Suite Corner Retail
Property)



Property Highlights

• 21-Unit apt. property constr. in 1954-1955 w/ garden-style
2-story layout.


• Strong unit mix of 14-2B/1B units, 6-1B/1B units, and a 4B/2B
(combined/permitted) unit on the upper level comprising
16,388 SF of building area in total.


• A large ±21,500 SF lot zoned RD1.5-1 featuring 19 parking
Spaces.


• Communal coin-operated laundry facility in the rear of the
building.


• A deep 1-car garage currently used for storage, a machine
storage room, and an exercise room which may each carry
ADU conversion potential (buyer to verify) or conversion for
additional common space.


• Walking distance (15 mins.) or a short drive (5 mins.) from
lively retail corridors on York Blvd. and N. Figueroa St.


• Partially repiped with copper plumbing; completely reroofed
in 2021.


• Separately metered for gas and electricity; no units
extensively renovated to top-of-market condition.


• Unique gate/alarm alert system for extra resident security.


Due Diligence


Broker Contact

Justin McCardle
Direct: (909) 486-2069
justin@growthinvestmentgroup.com

Evan Monroe
Direct: 626.407.2388
emonroe@growthinvestmentgroup.com

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Office:
GROWTH INVESTMENT GROUP CALIFORNIA
1487 E Colorado Blvd.
Pasadena, CA 91106
By Appointment Only - No Walk-ins
Front Office: 626.594.4901

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