212 E 62nd St, Los Angeles, CA 90003

Property Description

We are pleased to present 212 E 62nd St, 4-unit property located in Los Angeles. This opportunity is situated in close proximity to the 110-freeway offering easy access to LAX, Sofi Stadium, Downtown Los Angeles, the Convention Center, USC Coliseum. The property's central location is also a short drive to neighboring cities such as Crenshaw/Leimert Park, Inglewood, Huntington Park and Walnut, offering tenants numerous nearby amenities. Priced attractively at $137,000 per unit and at $276/ sf, this value-add opportunity presents over 370% upside in rents to a 4.68 GRM and a 17.23% CAP at market. All units are currently occupied with low rents providing an enormous amount of upside. The property consists of three separate structures constructed in 1928 with a unit mix of 1 two-bedroom units and 3 one-bedroom units. The property also features four 1-car garages in the rear accessible from the alley providing potential for ADU conversions.