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240 E 60Th St, Los Angeles, CA 90003
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240 E 60Th St Los Angeles, CA 90003

$1,850,000
  • 23 Beds
  • 10 Baths
  • 8,864 Sq.Ft.
For Sale
$1,850,000 Get Pre-Qualified
Map preview of 240 E 60Th St, Los Angeles, CA 90003

Property Overview: 240 E 60Th St Los Angeles, CA has 23 bedrooms, 10 bathrooms, 8,864 living square feet and 9,242 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 240 East 60th Street is a 10-unit courtyard-style property located minutes from several South LA thoroughfares including Broadway, Main Street, Manchester Boulevard, and the 110 Freeway. This value-add property is offered at a 5.94% CAP and 9.87 GRM on current rents, $185,000 per unit, and $209 per foot. Built in 1965, 240 East 60th St. consists of (3) 3-bdrm. units and (7) 2-bdrm. units that offer approx. 63% rental upside (compared to renovated units in the area). At projected market rents, the property will stabilize at a 12.09% CAP and 6.05 GRM. Property amenities include gated entry, carport parking, and on-site laundry facilities. 240 E. 60th can be purchased individually or as part of a 5 property South LA portfolio - please contact Listing Agent 1.

Listed by Max Berger | BRE #02054048 | Compass
Last checked: 9 minutes ago | Last updated: June 5th, 2024 | Source CRMLS | DOM: 29
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Home details

Lot Sq. Ft
9,242
HOA Dues
$0/mo
Year built
1965
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24397469
City
Los Angeles
County
Los Angeles
Time on Site
27 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 7
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $980
  • Total Rent: $6,859
  • Pro Forma/Market Rent: $16,100
Unit Breakdown 2
  • # of Units: 3
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,896
  • Total Rent: $8,687
  • Pro Forma/Market Rent: $9,300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.94%
  • Gross Rent Multiplier: 9.87
  • Gross Scheduled Income: --
  • Net Operating Income: $109,842
  • Gross Operating Income: $182,707
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 240 E 60Th St

Interior Features
Laundry Information
  • Has Laundry
  • Community
Fireplace Information
  • No Fireplace
  • None
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
  • Security Features: Gated Community
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Attached Carport
Property Information
  • No View
  • View: None
  • Total # of Units: 10
  • Parcel Number: 6006008006
  • Property Condition: Fixer
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 0.5 miles east of the 110 Freeway, 240 East 60th is between E. Slauson Ave. and E. Gage Ave.
View more facts & features

Local Los Angeles Agent

Sale History for 240 E 60Th St

Last sold on March 5th, 2018

  • May, 2024

  • May 28, 2024

    Date

    Active

    CRMLS: 24397469

    $1,850,000

    Price

  • March, 2018

  • Mar 5, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • February, 2018

  • Feb 26, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • December, 2017

  • Dec 13, 2017

    Date

    Sold

    CRMLS: PW17232165

    $1,275,000

    Price

  • Oct 13, 2017

    Date

    Active

    CRMLS: PW17232165

    $1,500,000

    Price

  • Listing provided courtesy of CRMLS

    GREAT OPPORTUNITY! 10 Units, 20 Bedrooms 10 Bathrooms, Centrally Located! More Photos & Property Details To Come! Just Listed!!

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Tax History for 240 E 60Th St

Assessed Value (2020): $1,326,510
Year Land Value Improved Value Assessed Value
2020 $520,200 $806,310 $1,326,510

Home Value Compared to the Market

This property vs the competition

240 E 60Th St is listed 48.12% higher than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $778 and this home is listed at $208.71 per/sqft which puts the price per square foot 73.17% lower than the median price per square foot for the city of Los Angeles.

About 240 E 60Th St

Detailed summary of property

240 E 60Th St is a multi family located in Los Angeles, CA 90003 and is currently for sale. This multi family property offers 23 bedrooms, 10 bathrooms, roughly 8,864 living square feet, and sits on an approximately 9,242 square foot lot. 240 E 60Th St was first listed on ArdentRealEstateGroup.com on May 29, 2024. The homeowner is currently asking $1,850,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $778. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 48.12% higher than the median priced home. Local competing homes currently for sale include 716 W 81st St, 1229 W Gage Ave and 4529 S Vermont Ave. While the average home in Los Angeles, CA is selling in 98 days, 240 E 60Th St has a days on market of 29 days. There are currently 4006 homes for sale in the Los Angeles real estate market and 2700 of them are single family homes while 1190 of them are condos and 109 are townhomes. For more information on this home for sale at 240 E 60Th St Los Angeles, CA 90003 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 240 E 60Th St

Public county record property details
Beds
20
Baths
10
Year built
1965
Sq. Ft.
8,864
Lot Size
9,239
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
180,181
APN
6006-008-006

The source for these homes facts are from public records.

90003 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$575,000
Median List Price/Sq.Ft.
$583
Median Sold Price
$535,000
Median Sold Price/Sq.Ft.
$575
Total Inventory
39
Median Sale to List Price %
101.9%
Avg Days on Market
34
Loan Type
Conventional (0%), FHA (11.11%), VA (11.11%), Cash (44.44%), Other (33.33%)

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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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