Property listed by Compass, Max Berger 310-230-5478
$850,000
Offered at just $141,667 per unit, 1500 W. 62nd Street is a South LA multifamily investment that immediately pencils compared to recent sales comps. This property offers approx. 41% rental upside, with clear long-term potential, stabilizing at a 9.76% CAP and 7.36 GRM once rents are brought to market. The… Read More property sits on a sprawling 10,000+ SF lot, creating both functionality and future opportunity. Buyers should verify the potential to add one or more ADUs, which could provide additional cash flow on top of the already strong in-place income. Built in 1927, 1500 W. 62nd features (6) 1-bdrm. units that average approx. 442 SF each. Comprising multiple single-story bungalow-style units, the property carries vintage charm, with arched entryways, stucco faades, and private entrances for each unit. The bungalow-style complex is fully gated, and a wide central walkway connects each residence. Mature shade trees, open green spaces, and a large yard enhance the overall livability. Property amenities include a detached structure at the rear including (6) 1-car garages and community laundry. The property sits within a well-established South LA neighborhood, surrounded by schools, shopping corridors, and community amenities. In addition, it is approx. 2 miles from major Inglewood employers including SoFi Stadium, the Forum, and the newly built InTuit Dome. Read Less
Listing Snapshot
Days Online
15
Last Updated
Beds
6
Square Ft.
2,652
Lot Size
0.23 Acres
Year Built
1927
MLS Number
25620441
Additional Details
Building
Built in 1927, Living area: 2652.0, 2 buildings, 1 storey, Levels: One
Community
Gated
Garage
6 spaces
Income
Gross Income: $81,036, Net Operating Income: $49,903
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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