Cypress Park (CYPK) Homes with Tandem Parking features

Welcome to Cypress Park (CYPK), a hidden gem nestled in the vibrant heart of Los Angeles, California. This charming neighborhood is known for its rich history, diverse community, and picturesque landscapes. With easy access to downtown LA and the surrounding areas, Cypress Park offers the perfect blend of urban convenience and suburban tranquility.

As you stroll through the tree-lined streets, you’ll discover a delightful mix of architectural styles, from quaint bungalows to modern homes. One of the standout features of many properties in Cypress Park is the availability of tandem parking. This practical amenity is a game-changer in Los Angeles, where parking can often be a challenge. With tandem parking, homeowners can comfortably accommodate multiple vehicles, making it an ideal choice for families or those who enjoy entertaining guests.

Cypress Park is also home to a variety of parks and recreational spaces, including the scenic Rio de Los Angeles State Park, which offers trails, sports fields, and picnic areas. The neighborhood is rich in culture, with local art galleries, community events, and a thriving culinary scene that showcases the diverse flavors of Los Angeles.

Whether you’re a first-time homebuyer or looking to invest in a property that combines comfort and convenience, Cypress Park is an excellent choice. Embrace the charm of this blossoming community and discover the perfect home with tandem parking that suits your lifestyle. Experience the best of Los Angeles living in Cypress Park, where community and convenience meet!

Newest Cypress Park (CYPK) Homes with Tandem Parking features

$6,450,000

52 Beds ⋅ 29 Baths ⋅ 26844469 MLS ⋅ Active Status

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.

3405 N Figueroa Street, Los Angeles

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.