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$ 850,000
Est. payment | /mo
6 Beds
6 Baths
2,652 SqFt
$ 850,000
Est. payment | /mo
6 Beds
6 Baths
2,652 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,652 sqft
Price per Sqft $320
MLS Listing ID 25620441
Bedrooms 6
HOA Y/N No
Year Built 1927
Lot Size 10,153 Sqft
Property Description
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 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.
Location
State CA
County Los Angeles
Area C34 - Los Angeles Southwest
Zoning LAR1
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Door-Single, Garage
Garage Spaces 6.0
Garage Description 6.0
Community Features Gated
View Y/N No
View None
Total Parking Spaces 6
Building
Story 1
Entry Level One
Architectural Style Bungalow
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 6002027029
Security Features Gated Community
Special Listing Condition Standard
Listed by Max Berger Compass