Property
Beds
23
Full Baths
None
1/2 Baths
None
Year Built
1965
Sq.Footage
8,864
(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.
Features & Amenities
Interior
-
Total Bedrooms
23
-
Bathrooms
N/A
-
Heating YN
YES
-
Heating
Wall Furnace
Exterior
-
Garage
No
-
Parking
Attached, Attached Carport
-
Pool
No
Area & Lot
-
Lot Size(acres)
0.2121
-
Property Type
Residential Income
Price
-
Sales Price
$1,950,000
-
Sq. Footage
8, 864
-
Price/SqFt
$219
HOA
-
Association
NO
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
2
-
Senior Community YN
NO
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Location
County
Los Angeles
Elementary School
Middle School
High School
Listing Courtesy of Chase Simonton , RE/MAX One
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