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815 62nd Place

Los Angeles (City), CA 90044
  • $1,145,000
  • STATUS: Active
  • ON SITE: 57 Days
  • ID#: SB22121279
UPDATED: 19 min ago
$1,145,000
  • 0
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1922
County:

School Ratings & Info

Listing Agent(s): Aaron Jacobson of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)


Description

815 W 62nd Pl is a value add 5-unit apartment fit for any investor looking to capitalize on a growing submarket of Los Angeles. Sandwiched between Inglewood's new SoFi stadium and USC, 815 W 62nd brings an investor the opportunity to purchase a cash-flowing asset withachievable rental upside. With 80% of the property rented with Section 8, this remodeled asset provides an investorthe chance to capitalize on the great rental income Section 8 has to offer. This renovated apartment buildingis located in the 90044 Zip code in Los Angeles and is priced at 13.34 GRM and a 4.77% cap rate.The subject property has a unit mix of (4) 1-Bed/1-Bath and (1) 2-Bed/1-Bath Units. With 4/5 units rented withSection 8, this property has the potential to operate at a 7.66% cap rate and 9.54 GRM. This property offers investors the rare opportunity to cash flow immediately with an achievable rental upside.The subject property is within walking distance of many local restaurants and grocery markets. 815 W 62nd is just 2 milesfrom USC and less than 3 miles from Inglewood.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-11T09:30:03.213. 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 deemed reliable but is not guaranteed accurate by the MLS or Rogers Realty Group/Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.searchsocalrealestate.com/homes/129818837
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815 62nd Place Los Angeles (City), CA 90044

  • Price: $1,145,000
  • Status: Active
  • On Site: 57 Days
  • Updated: 19 min ago
  • ID#: SB22121279
0
Beds
0
Baths
0
½ Baths
0.13
Acres
1922
Built
Neighborhood:
C34 - Los Angeles Southwest
County:
Los Angeles
Area:
C34 - Los Angeles Southwest
Property Description
815 W 62nd Pl is a value add 5-unit apartment fit for any investor looking to capitalize on a growing submarket of Los Angeles. Sandwiched between Inglewood's new SoFi stadium and USC, 815 W 62nd brings an investor the opportunity to purchase a cash-flowing asset withachievable rental upside. With 80% of the property rented with Section 8, this remodeled asset provides an investorthe chance to capitalize on the great rental income Section 8 has to offer. This renovated apartment buildingis located in the 90044 Zip code in Los Angeles and is priced at 13.34 GRM and a 4.77% cap rate.The subject property has a unit mix of (4) 1-Bed/1-Bath and (1) 2-Bed/1-Bath Units. With 4/5 units rented withSection 8, this property has the potential to operate at a 7.66% cap rate and 9.54 GRM. This property offers investors the rare opportunity to cash flow immediately with an achievable rental upside.The subject property is within walking distance of many local restaurants and grocery markets. 815 W 62nd is just 2 milesfrom USC and less than 3 miles from Inglewood.
Exterior Features

Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 5 Parking Total 5 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls Cooling Whole House Fan Cooling YN Yes Interior Features All Bedrooms Down

Property Features

Additional Parcels YN No Cap Rate 4.77 Common Interest Community Apartment Community Features BikingDog ParkHikingParkSidewalksUrban Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 85800 Gross Scheduled Income 85800 Insurance Expense 0 Land Lease YN No Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Conventional Net Operating Income 54566 New Construction YN No Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Operating Expense 28660 Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance Rate 3 Water Sewer Expense 0 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-11T09:30:03.213. 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 deemed reliable but is not guaranteed accurate by the MLS or Rogers Realty Group/Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
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Rogers Realty Group/Berkshire Hathaway HomeServices California Properties
1063 W Sixth Street
Ontario CA, 91762
Listing Agent(s): Aaron Jacobson of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)