(8.23 GRM / 7.70 CAP RATE w/ 48% REMAINING RENTAL UPSIDE) MASSIVE UNITS $203.07 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… Read More 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. Read Less
Property listed by RE/MAX One, Chase Simonton 818-366-3300
Listing Snapshot
Days Online
75
Last Updated
Beds
23
Square Ft.
8,864
Lot Size
0.21 Acres
Year Built
1965
MLS Number
25581489
Additional Details
Building
Built in 1965, Living area: 8864.0, 1 building, 2 stories, Levels: Two
Heating
WallFurnace
Income
Gross Income: $218,628, Net Operating Income: $138,529
Lot
0.2121 acres
Parking
6 total parking spaces, AttachedCarport
Property
Courtyard
Taxes
Parcel Number: 6006008006, Zoning: LAR2
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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