3405 N Figueroa Street, Los Angeles, CA 90065
Local realty services provided by:ERA Excel Realty
3405 N Figueroa Street,Los Angeles, CA 90065
$6,450,000
- 52 Beds
- 29 Baths
- 20,188 sq. ft.
- Multi-family
- Active
Listed by: tony sameyah, david saghian
Office: lyon stahl investment real estate, inc.310-425-9838
MLS#:26844469
Source:CRMLS
Price summary
- Price:$6,450,000
- Price per sq. ft.:$319.5
About this home
We are pleased to present the opportunity to acquire 3401-3405 N. Figueroa Street, a rare mixed use asset located in the highly sought after Cypress Park neighborhood of Los Angeles. Offered for sale for the first time since its development, the property consists of a 26 unit apartment community and two commercial spaces situated across two separate parcels, providing investors with operational flexibility and future value enhancement potential. The asset is being offered at $248,077 per unit and $319 per square foot, representing an attractive 10.37 GRM and 5.47% capitalization rate on current operations. Constructed in 1988, the residential component features an attractive unit mix of one (1) 1 Bedroom/1 Bathroom unit, twenty two (22) 2 Bedroom/1 Bathroom units, two (2) 2 Bedroom/2 Bathroom units, and one (1) 3 Bedroom/2 Bathroom unit. The commercial component includes a restaurant space and an additional commercial suite that is currently vacant, creating an immediate lease up opportunity for a new owner. The property contains approximately 20,188 rentable square feet on a 25,045 square foot LARD2 zoned lot and benefits from two separate APNs, offering potential ownership, financing, or disposition flexibility. Additionally, the asset provides 52 parking spaces, giving each residential unit one tandem parking space. A key investment highlight is the property's 1980s construction, exempting the residential units from the City of Los Angeles Rent Stabilization Ordinance (RSO). Instead, the property is subject only to California's statewide rent control regulations under AB 1482, allowing ownership to increase rents annually by up to 5% plus CPI, subject to state guidelines. Combined with approximately 27% rental upside, a desirable unit mix, and diversified mixed use income, the offering presents an attractive opportunity for investors seeking long term growth and stable cash flow. Ideally located along the N. Figueroa Street corridor, the property is adjacent to Florence Nightingale Middle School and near a growing collection of restaurants, cafes, retail destinations, and neighborhood amenities. Cypress Park continues to experience strong demand driven by ongoing revitalization, limited supply, and increasing interest from both residents and businesses, making opportunities of this scale and quality increasingly rare....
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Home facts
- Year built:1988
- Listing ID #:26844469
- Added:10 day(s) ago
- Updated:June 19, 2026 at 10:54 AM
Rooms and interior
- Bedrooms:52
- Total bathrooms:29
- Kitchen Description:Refrigerator
- Living area:20,188 sq. ft.
Heating and cooling
- Heating:Wall Furnance
Structure and exterior
- Roof:Mansard
- Year built:1988
- Building area:20,188 sq. ft.
- Lot area:0.58 Acres
Finances and disclosures
- Price:$6,450,000
- Price per sq. ft.:$319.5
Features and amenities
- Amenities:Ceiling Fans
Parking
- Total parking spaces:52
- Parking description:Garage, Tandem
- Garage:Yes
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