(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.
Days on market: 32
Listing updated: September 22, 2025 - 04:00:09
Listed by: Chase Simonton DRE #01766871 818-366-3300, RE/MAX One - Beverly Hills/Greater LA
Source: Beverly Hills/Greater LA, MLS#: CLW-X01091 Originating MLS: CRMLS
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