3501 N Figueroa Street

Description

Both units have been rented 3501 1/2 the garden unit has signed a 1 year lease for $3,200. Exceptional Duplex on Oversized Corner Lot in Prime NELA! This rare opportunity to own a well-located duplex on one of the largest corner parcel lots in the neighborhood, offering approximately 5,700 sq ft of land, significantly larger than the area average of approximately 4,300 sq ft. Each unit is approximately 700 sq ft with each residence offering two bedrooms and one bath, a dedicated laundry area with its own washer and dryer, and a thoughtfully designed kitchen with its own refined, contemporary aesthetic flexible property presents multiple ownership and income strategies, including the potential to add an ADU and/or additional structures. Situated in the heart of Northeast Los Angeles' creative and rapidly evolving corridor, the property offers excellent proximity to the 5, 101, 110, 710, 2, and 10 freeways, providing convenient access throughout Los Angeles. Offered at $1,000,000, this property represents a compelling value at approximately $500,000 per unit, a rare find in today's market. With interest rates trending downward and currently in the 5's, ownership can pencil favorably with an estimated 5% cap rate, while offering long-term equity growth and potential tax advantages. The oversized lot may also accommodate the addition of a carport or ADU, ideal for extended family or supplemental rental income. Property features include laminate wood flooring, split systems for heating and air conditioning, private fenced yards, and separate private entrances. One unit enjoys expansive views of the Downtown Los Angeles skyline. Updated kitchens, plumbing and modern baths complement bright, open floor plans that feel fresh and move-in ready. Exterior highlights include lush landscaping, custom fencing, and gated parking, offering privacy, functionality, and curb appeal. Conveniently located near Elysian Park, Highland Park, Dodger Stadium, Griffith Park, Downtown Los Angeles, the Arts District, Chinatown, Japantown, Atwater Village, Silver Lake, and Echo Park, with nearby access to Metro rail lines serving DTLA to Santa Monica to Long Beach. This property offers an exceptional combination of location, flexibility, income potential, and long-term value in one of Los Angeles' most desirable neighborhoods.