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$ 550,000
Est. payment | /mo
6 Beds
4 Baths
1,996 SqFt
$ 550,000
Est. payment | /mo
6 Beds
4 Baths
1,996 SqFt
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 1,996 sqft
Price per Sqft $275
MLS Listing ID 24450065
Bedrooms 6
HOA Y/N No
Year Built 1928
Lot Size 5,122 Sqft
Property Description
We are pleased to present 212 E 62nd St, 4-unit property located in Los Angeles. This opportunity is situated in close proximity to the 110-freeway offering easy access to LAX, Sofi Stadium, Downtown Los Angeles, the Convention Center, USC Coliseum. The property's central location is also a short drive to neighboring cities such as Crenshaw/Leimert Park, Inglewood, Huntington Park and Walnut, offering tenants numerous nearby amenities. Priced attractively at $137,000 per unit and at $276/ sf, this value-add opportunity presents over 370% upside in rents to a 4.68 GRM and a 17.23% CAP at market. All units are currently occupied with low rents providing an enormous amount of upside. The property consists of three separate structures constructed in 1928 with a unit mix of 1 two-bedroom units and 3 one-bedroom units. The property also features four 1-car garages in the rear accessible from the alley providing potential for ADU conversions.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR2
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Garage Spaces 4.0
Garage Description 4.0
Attached Garage Yes
Total Parking Spaces 4
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6006012015
Special Listing Condition Standard
Listed by Casey Lins • Kidder Mathews of California, Inc.