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$850,000
Est. payment /mo
6 Beds
6 Baths
2,652 SqFt
UPDATED:
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
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Listed by Max Berger Compass
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