212 E 62nd St Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90003
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,996 sqft
Price per Sqft $275
MLS Listing ID 24-450065
Bedrooms 6
Year Built 1928
Lot Size 5,121 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 Downtown L.A.
Zoning LAR2
Rooms
Other Rooms None
Interior
Heating Wall
Cooling None
Equipment None
Exterior
Garage Garage Is Attached
Garage Spaces 4.0
Building
Story 2
Others
Special Listing Condition Standard