6401 N Figueroa St, Los Angeles, CA 90042

Property Description

Excellent Owner-User or Investment Opportunity! Two separate homes on one gated lot offer flexibility for an owner who wants to live in one and generate rental income from the other, or an investor seeking income from two residences. Each home is separately metered for gas, electric, and water, with tenants responsible for all utilities. The charming front bungalow, built in 1907, features 3 bedrooms, 2 beautifully remodeled baths, a separate office, and an inviting front porch. Hardwood floors add warmth and character, while the dining area features a fireplace and opens to the living room. The kitchen includes granite countertops, vinyl flooring, and a newer stove, refrigerator, washer, and dryer (2024). Wall-unit heating and A/C. The front home is currently vacant, providing an immediate opportunity for an owner-user or new tenant. The rear residence, 6401 1/2, was built in 1991 and is a spacious two-story, Spanish-style 4-bedroom, 3-bath home. Highlights include hardwood floors in the main living area, high ceilings, a fireplace, and a sunny rear patio. The home features central heat and a newer A/C unit (2025). It is currently tenant-occupied on a month-to-month lease. The property offers three off-street parking spaces between the homes: one for the front residence and two for the rear. With two substantial homes, separate utility meters, gated grounds, and immediate occupancy and existing rental income, this is a compelling opportunity for both investors and owner-users seeking to offset their housing costs with rental income. Gross income and GRM calculated on projected income.