$561,000
$550,000
2.0%For more information regarding the value of a property, please contact us for a free consultation.
6 Beds
4 Baths
1,996 SqFt
SOLD DATE : 12/20/2024
Key Details
Sold Price $561,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 1,996 sqft
Price per Sqft $281
MLS Listing ID 24450065
Sold Date 12/20/24
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
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Angelica Suarez • Re/Max Estate Properties
GET MORE INFORMATION
REALTOR® | Lic# 02111780