- 23 Beds
- 10 Baths
- 8,864 Sqft
- .21 Acres
240 60th Street
(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.
Essential Information
- MLS® #25581489
- Price$1,895,000
- Bedrooms23
- Bathrooms10.00
- Square Footage8,864
- Acres0.21
- Year Built1965
- TypeResidential Income
- StatusActive
Community Information
- Address240 60th Street
- AreaC42 - Downtown L.A.
- CityLos Angeles
- CountyLos Angeles
- Zip Code90003
Amenities
- Parking Spaces6
- ParkingAttached Carport
- GaragesAttached Carport
- ViewCourtyard
Interior
- HeatingWall Furnace
- # of Stories2
- StoriesTwo
Additional Information
- Date ListedAugust 21st, 2025
- Days on Market38
- ZoningLAR2
Listing Details
- AgentChase Simonton
- OfficeRE/MAX One
Price Change History for 240 60th Street, Los Angeles, (MLS® #25581489)
| Date | Details | Change |
|---|---|---|
| Price Reduced from $1,950,000 to $1,895,000 |
Chase Simonton, RE/MAX One.
Based on information from California Regional Multiple Listing Service, Inc. as of September 28th, 2025 at 12:56pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.