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.
Los Angeles Market Context
Use this listing as a starting point for understanding Los Angeles, California, near ZIP code 90047. You can browse homes in Los Angeles and review homes for sale without leaving the local market path. Nearby market context is also available in Playa Del Rey.
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