4171 S Figueroa St, Pico Place

Price: $1,400,000

Units: 26

4171 S Figueroa Place wasn't the typical product type for MVI.  It can be tough to find buyers for this product type, especially in 2013.  Nowadays people are a bit more open to these older buildings due to the lack of good inventory.  $53k per door just doesn't happen in the 2016 Los Angeles multifamily market.  Nonetheless this was a great purchase for the buyer.  To pick up this many units for this price is fantastic and we are positive that his current cash flow represents that! It's crazy to have seen all of these different pockets become more and more valuable as investors infiltrate the LA investment market.