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240 E 60th St 10 Unit Apartment Building $1,950,000 ($195,000/Unit) 7.01% Cap Rate Los Angeles, CA 90003
INVESTMENT HIGHLIGHTS
- 8.92 GRM and 7.01% CAP RATE
- 3 Units Delivered Vacant and Renovated
- LOW Price Per Foot $219.99
EXECUTIVE SUMMARY
RE/MAX One Commercial presents a 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 6.98% CAP rate, 8.95 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.
PROPERTY HIGHLIGHTS:
• 6.98% CAP | 8.95 GRM | 48% rental upside
• 10 Units: 7 (2 Bed / 1 Bath) + 3 (3 Bed / 1 Bath)
• 3 Vacant Units: One 2 Bed / 1 Bath + Two 3 Bed / 1 Bath — all nicely
renovated
• Large Units: 8,864 SF building on a 9,240 SF lot (˜ $219.99 price per SF)
• Parking: 6 on-site spaces
• Seismic Retrofit: Completed, no further work required
• Zoning: LAR2
• Turnkey Value-Add: Immediate upside with renovated vacancies and strong
in-place cash flow
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 6.98% CAP rate, 8.95 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.
PROPERTY HIGHLIGHTS:
• 6.98% CAP | 8.95 GRM | 48% rental upside
• 10 Units: 7 (2 Bed / 1 Bath) + 3 (3 Bed / 1 Bath)
• 3 Vacant Units: One 2 Bed / 1 Bath + Two 3 Bed / 1 Bath — all nicely
renovated
• Large Units: 8,864 SF building on a 9,240 SF lot (˜ $219.99 price per SF)
• Parking: 6 on-site spaces
• Seismic Retrofit: Completed, no further work required
• Zoning: LAR2
• Turnkey Value-Add: Immediate upside with renovated vacancies and strong
in-place cash flow
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$218,628
|
$16.86
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$218,628
|
$16.86
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$75,416
|
$5.82
|
| Net Operating Income |
$143,212
|
$11.04
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $218,628 |
| Annual Per SF | $16.86 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $218,628 |
| Annual Per SF | $16.86 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $75,416 |
| Annual Per SF | $5.82 |
| Net Operating Income | |
|---|---|
| Annual | $143,212 |
| Annual Per SF | $11.04 |
PROPERTY FACTS
| Price | $1,950,000 | Building Class | C |
| Price Per Unit | $195,000 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 8,864 SF |
| Cap Rate | 7.01% | Average Occupancy | 75% |
| Gross Rent Multiplier | 8.92 | No. Stories | 2 |
| No. Units | 10 | Year Built/Renovated | 1965/2025 |
| Property Type | Multifamily | Parking Ratio | 0.68/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LAR2 | ||
| Price | $1,950,000 |
| Price Per Unit | $195,000 |
| Sale Type | Investment |
| Cap Rate | 7.01% |
| Gross Rent Multiplier | 8.92 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 8,864 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2025 |
| Parking Ratio | 0.68/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LAR2 |
AMENITIES
SITE AMENITIES
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 3 | $8,348 | - |
| 2+1 | 7 | $14,185 | - |
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Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 6006-008-006 | Improvements Assessment | $775,000 (2025) |
| Land Assessment | $1,000,000 (2025) | Total Assessment | $1,775,000 (2025) |
PROPERTY TAXES
Parcel Number
6006-008-006
Land Assessment
$1,000,000 (2025)
Improvements Assessment
$775,000 (2025)
Total Assessment
$1,775,000 (2025)
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240 E 60th St
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