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1740 W 62nd St, Los Angeles, CA 90047
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1740 W 62nd St Los Angeles, CA 90047

$635,000 Sold Price as of 12/16/2019
  • 5 Beds
  • 5 Baths
  • 2,590 Sq.Ft.
Sold
$635,000 Sold Price as of 12/16/2019 Refinance Your Mortgage
Map preview of 1740 W 62nd St, Los Angeles, CA 90047

Property Overview: 1740 W 62nd St Los Angeles, CA has 5 bedrooms, 5 bathrooms, 2,590 living square feet and 4,892 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Great opportunity to own a multi-unit investment property in Los Angeles! This well-maintained fourplex is located minutes from the newly constructed LA Rams stadium in a steadily gentrifying area with great upside potential. All units each have their own gas and electricity meters and the rear building hosts four one-car garages. Well located near shopping and freeways, don’t miss this great opportunity to own your new investment property in the great city of Los Angeles.

Listed by Eric Delgado | BRE #01831579 | Keller Williams Encino-Sherman Oaks
Co-listed by Sandro Bononi | BRE #01401037 | Keller Williams Encino-Sherman Oaks
Last checked: 6 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 17

Home details

Lot Sq. Ft
4,892
HOA Dues
$0/mo
Year built
1926
Garage
4 Car
Property Type:
Multi Family
Status
Sold
MLS#
SR19216488
City
Los Angeles
County
Los Angeles
Time on Site
1224 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
  • # of Leased Units: 4
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,238
  • Total Rent: $14,856
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,200
  • Total Rent: $14,400
  • Pro Forma/Market Rent: $1,450
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Actual Rent: $824
  • Total Rent: $9,888
  • Pro Forma/Market Rent: $1,450
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Actual Rent: $1,300
  • Total Rent: $15,600
  • Pro Forma/Market Rent: $1,450
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $59,544
  • Net Operating Income: $46,657
  • Gross Operating Income: --
  • Other Income Description: 400
Annual Expense Breakdown
  • Total Operating Expense: $12,887
  • New Taxes: $7,987
  • Trash: $500
  • Insurance: $1,400
  • Water/Sewer: $3,000

Property Details for 1740 W 62nd St

Interior Features
Laundry Information
  • No Laundry
  • None
Room Information
  • Kitchen, Living Room, Main Floor Bedroom
Interior Features
  • Levels: One, Two
Exterior Features
Exterior Information
  • Roof: Shingle
  • Has Fence
  • Wrought Iron
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
Lot Information
  • Lot Features: 2-5 Units/Acre
  • Lot Size Source: Assessor
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 4
  • Parcel Number: 6002029017
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: S. Westen Ave & W. 62nd St
Neighborhood Information
  • Community Features: Sidewalks, Street Lights
View more facts & features

Local Los Angeles Agent

Sale History for 1740 W 62nd St

Last sold for $635,000 on December 16th, 2019

  • December, 2019

  • Dec 16, 2019

    Date

    Sold

    CRMLS: SR19216488

    $635,000

    Price

  • Oct 8, 2019

    Date

    Pending

    CRMLS: SR19216488

    $639,900

    Price

  • Oct 4, 2019

    Date

    Active

    CRMLS: SR19216488

    $639,900

    Price

  • Sep 30, 2019

    Date

    Pending

    CRMLS: SR19216488

    $639,900

    Price

  • Sep 12, 2019

    Date

    Active

    CRMLS: SR19216488

    $639,900

    Price

  • December, 2019

  • Dec 16, 2019

    Date

    Sold (Public Records)

    Public Records

    $635,000

    Price

  • July, 2019

  • Jul 25, 2019

    Date

    Canceled

    CRMLS: PW18203098

    $650,000

    Price

  • Jun 27, 2019

    Date

    Active

    CRMLS: PW18203098

    $650,000

    Price

  • May 9, 2019

    Date

    Active Under Contract

    CRMLS: PW18203098

    $650,000

    Price

  • Feb 13, 2019

    Date

    Price Change

    CRMLS: PW18203098

    $650,000

    Price

  • Aug 20, 2018

    Date

    Active

    CRMLS: PW18203098

    $675,000

    Price

  • Listing provided courtesy of CRMLS

    1740 West 62nd Street is a four-unit multifamily investment property in Los Angeles, California. The property is located west of the 110 Freeway in South Los Angeles near the intersection of Gage and Western avenues. This area is a majority-renter market with over 74 percent of housing units occupied by renters. 1740 West 62nd Street comprises three buildings with a total of two two-bedroom units, two one-bedroom units, and a studio. The studio is non-conforming, generating $400/month, and one of the two-bedroom units is a one-bedroom unit operated as a two-bedroom unit. The rear building also offers four single-car garages, three of which will be delivered empty. The property is separately metered for gas and electricity and has solar panels, which are leased from Solar City for $70 per month. Because it is a 1926 construction, this property is subject to rent control. With current rents 38 percent below market rates, 1740 West 62nd Street presents an astute investor with a great opportunity to add value and capture substantial potential upside. Please request and review a copy of the Offering Memorandum for this property for a detailed explanation and description of this investment and its underwriting. NOTE: Seller has made numerous repairs, increased rents, and lowered original listing price during recent weeks.

  • July, 2004

  • Jul 6, 2004

    Date

    Sold (Public Records)

    Public Records

    $389,000

    Price

Show More

Tax History for 1740 W 62nd St

Assessed Value (2020): $635,000
Year Land Value Improved Value Assessed Value
2020 $435,000 $200,000 $635,000

Home Value Compared to the Market

This property vs the competition

1740 W 62nd St sold on December 16, 2019 for 46.23% lower than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $247.07 per/sqft which puts the price per square foot 67.28% lower than the current median sale per square foot for the city of Los Angeles.

About 1740 W 62nd St

Detailed summary of property

1740 W 62nd St is a multi family that recently sold in Los Angeles, CA 90047. This multi family property offered 5 bedrooms, 5 bathrooms, roughly 2,590 living square feet, and sits on an approximately 4,892 square foot lot. 1740 W 62nd St was first listed on ArdentRealEstateGroup.com on January 13, 2021. The homeowner sold the property for $635,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 46.23% lower than the current median priced home. Local homes that are currently for sale include 1507 W 51St St, 5170 S Van Ness Ave and 5175 S Van Ness Ave. While the average home in Los Angeles, CA is selling in 93 days, 1740 W 62nd St has a days on market of 17 days. There are currently 3718 homes for sale in the Los Angeles real estate market and 2495 of them are single family homes while 1123 of them are condos and 94 are townhomes. For more information on this home for sale at 1740 W 62nd St Los Angeles, CA 90047 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1740 W 62nd St

Public county record property details
Beds
5
Baths
5
Year built
1926
Sq. Ft.
2,590
Lot Size
4,892
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
23
APN
6002-029-017

The source for these homes facts are from public records.

90047 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$760,000
Median List Price/Sq.Ft.
$555
Median Sold Price
$660,000
Median Sold Price/Sq.Ft.
$559
Total Inventory
80
Median Sale to List Price %
94.29%
Avg Days on Market
35
Loan Type
Conventional (26.32%), FHA (10.53%), VA (5.26%), Cash (26.32%), Other (0%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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