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(8.92 GRM / 7.01 CAP RATE w/ 48% REMAINING RENTAL UPSIDE) MASSIVE UNITS $219.99 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.
| DAYS ON MARKET | 30 | LAST UPDATED | 8/21/2025 |
|---|---|---|---|
| YEAR BUILT | 1965 | COMMUNITY | C42 - Downtown L.A. |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AREA | C42 - Downtown L.A. |
|---|---|
| GARAGE | Attached Garage |
| HEAT | Wall Furnace |
| LOT | 9239 sq ft |
| PARKING | Attached, Attached Carport |
| STORIES | 2 |
| VIEW | Yes |
TOTAL MONTHLY PAYMENT
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