240 E 60th St 10 Unit Apartment Building $1,800,000 ($180,000/Unit) 7.70% Cap Rate Los Angeles, CA 90003

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 7.70% CAP rate, 8..23 GRM, and $203..07 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:
• 7.70% CAP | 8.23 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