ANOTHER LOS ANGELES CO-OP CONVERTED TO CONDO FIGUEROA ARMS CONDOMINIUMS Property Information Location 4125 S Figueroa Street Los Angeles, CA 90037 LOS ANGELES COUNTY Number of units 75 Converted to Condo 2015 As a Co-op As a Condo Unit values were 1/2 or less than they were at the market height with some own- ers being up-side-down with their mort- gage vs market value of the units. Some owners were forced into foreclosure, fur- ther reducing unit values. The conversion created immediate mar- ket acceptance and lift prices by at least 80%. Owners who wanted to sell can now afford to payoff their loans thereby reducing the foreclosures in the building and increasing unit prices. There were no lenders that were willing to finance new purchasers or refinance existing

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