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$1,950,000
Est. payment /mo
23 Beds
10 Baths
8,864 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 8,864 sqft
Price per Sqft $219
MLS Listing ID 25581489
Bedrooms 23
HOA Y/N No
Year Built 1965
Lot Size 9,239 Sqft
Property Description
(8.92 GRM / 7.01 CAP RATE w/ 48% REMAINING RENTAL UPSIDE) MASSIVE UNITS $219.99 PRICE/SQFT This 10-unit multifamily opportunity with strong in-place income and nearly 48% rental upside. The property features a desirable unit mix of seven (7) 2-Bed/1-Bath and three (3) 3-Bed/1-Bath units, all generously sized with a total building area of 8,864 SF on a 9,240 SF lot.Currently, three units are vacant and fully renovated (1 2-Bed/1-Bath and two 3-Bed/1-Bath), providing immediate leasing potential and a head start on capturing market rents. The building is further enhanced with 6 on-site parking spaces and the seismic retrofit already completed, saving a new owner both cost and compliance concerns.Attractive metrics include a 7.01% CAP rate, 8.92 GRM, and $219.99 price per SF, with significant upside remaining through unit turnover. Zoned LAR2, the property offers long-term redevelopment potential in addition to its strong cash flow profile.240 E 60th Street is a turnkey value-add opportunity in a rapidly improving pocket of South Los Angeles, ideal for investors seeking stable income, immediate upside, and long-term growth.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR2
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Attached Carport
View Y/N Yes
View Courtyard
Total Parking Spaces 6
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6006008006
Special Listing Condition Standard
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Listed by Chase Simonton RE/MAX One
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