Los Angeles, CA 90003,212 E 62nd St

$550,000

Est. payment /mo
Est.Price: ?

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212 E 62nd St Los Angeles, CA 90003

6 Beds

4 Baths

1,996 SqFt

SOLD DATE : 12/20/2024

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 1,996 sqft

Price per Sqft $281

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

Parking Features Garage Is Attached

Garage Spaces 4.0

Building

Story 2

Others

Special Listing Condition Standard

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TheMLS (CLAW)
Listed by Kidder Mathews of California, Inc.
Bought with Re/Max Estate Properties

Scott Goshorn

Director- Luxury Estates | License ID: 01964409

+1(323) 251-5479

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