tomo logo

$899,000

Beds
7
sq ft
2,248

8115 S Figueroa St, Los Angeles, CA 90003

8115 S Figueroa St

Los Angeles, CA 90003

  • 95 days on market
    • Price drop $76,000↓
Fantastic development opportunity. Eligible for new CHIP ordinance that can allow additional 50% density increase and significant parking reductions (See Docs). ED1 Eligible. Continue to rent out the property or develop this 6501 Sq Ft lot. Zoned LAC2 , this TOC Tier 1. With a FAR of 2.75 the total buildable area can be 17,877 sq. ft. Buyer to Verify with city planning for accuracy of all information. Property consists of one building with 6 separate units. Units 2,3,4,5 and 6 are studios. Unit 1 is a 2 bedroom / 1 bath and it was modified to a 3 bedroom / 1 bath without permits which is now rented on Airbnb 30day+ . The other 5 units are rented out on a month to month basis.

Details

Property type

Est. home value

$837,919

Lot size

6,501 sq ft

Price per sq ft

$400

Year built

1950

HOA

No

Price History

07/15/2024
CLAW

CLAW #24404581

Price change
$899,000
-7.79%
06/16/2024
CLAW

CLAW #24404581

Listed
$975,000
+24.2%
02/07/2023
CRMLS

CRMLS #IG22254952

Sold
$785,000
+31.05%

Schools & Community

Neighborhood: 

South Los Angeles

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Archwest Funding Llc

Loan start date

May 2023

Original loan amount

$471,000

Est. remaining balance

Not provided

Interest rate

6.28%

Loan type

Commercial, 30 year

Seller

King Capital Inc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 09/20/2024 at 7:55 PM

Listing updated: 09/10/2024 at 10:49 PM

Listed by: Shamim Khorsand Mashhadi, RE/MAX ESTATE PROPERTIES Phone #: (310) 577-5300

MLS: CLAW #24404581

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