19 Units | Vacant & Renovated | South LA

Highlights:

• 100% Vacant – Renovated
• 14 Gated Parking Spaces
• 19 Units – Studios & 1BR
• New Roof, Electric & Plumbing
• High Cash Flow Deal
• ADU Potential – Up to 8 Units
• Near 110 Fwy, DTLA & LAX

Description:

The LAAA Team and the SK Group of Marcus & Millichap are pleased to present 10412 S. Figueroa Street, a fully vacant, fully renovated 19-unit multifamily property in the Vermont Vista neighborhood of South Los Angeles. Completely rebuilt to modern standards and well-parked, the asset is ready for immediate lease-up, offering investors a rare plug-and-play opportunity in a high-demand market.

Investment Flexibility
Operators can lease to market-rate tenants, capture higher Section 8 rents, or structure a master lease with a non-profit for guaranteed long-term cash flow. With no affordability restrictions, the property functions as a covenant-free alternative to ED1 new construction, offering the same modern product but without regulatory burden or parking limitations.

Property Highlights
The property features a balanced unit mix of 13 bachelors, 5 studios, and 1 one-bedroom, well-positioned to capture strong renter demand across multiple price points. Utilities are configured with master-metered gas and water, while each unit benefits from separately metered electrical service.

Extensive recent renovations include a new roof, upgraded 400-amp electrical system, all new plumbing, HVAC venting, waterproofed shower pans, new shower valves, and dual-glazed windows. These improvements significantly reduce near-term CapEx exposure while ensuring long-term durability.

Residents benefit from secure gated access and 14 gated parking spaces, a rare level of parking for this submarket and unit mix. In addition, the property offers future value-creation potential with capacity to accommodate up to eight accessory dwelling units (ADUs) if pursued.

Location Overview
Just four blocks from the 110 Freeway, the property offers direct access to Downtown, LAX, and the South Bay. Vermont Vista is one of South LA’s most supply-constrained, transit-oriented neighborhoods, sustaining strong renter demand and long-term growth.

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