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(323) 864-4211
Linda Roth Burrell
240 E 60th St, Los Angeles, CA 90003
- $1,735,000
- 23
- BD
- 10
- BA
- 8,864
- SqFt
- Sold Price
- $1,735,000
- List Price
- $1,800,000
- Closing Date
- Dec 31, 2025
- MLS#
- 25581489
- Year Built
- 1965
- Bedrooms
- 23
- Bathrooms
- 10
- Living Sq. Ft
- 8,864
- Lot Size
- 9,240
- Days on Market
- 74
- Property Type
- Multifamily
- Stories
- 2
Property Description
(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 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.
Additional Information
- Other Buildings
- Stall(s)
- Heat
- Wall
- Cooling
- Wall Unit(s)
- View
- Courtyard
- Number of Cars in Garage
- Carport Attached
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Courtesy of RE/MAX One, Chase Simonton - CA DRE#01766871 Selling Office: .
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