240 E 60th Street, Los Angeles, CA 90003
Local realty services provided by:ERA North Orange County Real Estate
240 E 60th Street,Los Angeles, CA 90003
$1,895,000
- 23 Beds
- 10 Baths
- 8,864 sq. ft.
- Multi-family
- Active
Listed by:chase simonton
Office:re/max one
MLS#:25581489
Source:CRMLS
Price summary
- Price:$1,895,000
- Price per sq. ft.:$213.79
About this home
(8.67 GRM / 7.25 CAP RATE w/ 48% REMAINING RENTAL UPSIDE) MASSIVE UNITS $213.79 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.
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Home facts
- Year built:1965
- Listing ID #:25581489
- Added:40 day(s) ago
- Updated:September 26, 2025 at 10:31 AM
Rooms and interior
- Bedrooms:23
- Total bathrooms:10
- Living area:8,864 sq. ft.
Heating and cooling
- Heating:Wall Furnance
Structure and exterior
- Year built:1965
- Building area:8,864 sq. ft.
- Lot area:0.21 Acres
Finances and disclosures
- Price:$1,895,000
- Price per sq. ft.:$213.79
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