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244 W 62nd St, Los Angeles, CA 90003
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244 W 62nd St Los Angeles, CA 90003

$750,000 Sold Price as of 01/11/2022
  • 5 Beds
  • 4 Baths
  • 3,385 Sq.Ft.
Sold
$750,000 Sold Price as of 01/11/2022 Refinance Your Mortgage
Map preview of 244 W 62nd St, Los Angeles, CA 90003

Property Overview: 244 W 62nd St Los Angeles, CA has 5 bedrooms, 4 bathrooms, 3,385 living square feet and 4,625 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Amazing opportunity to own this 4 unit property with positive cash flow. All lease agreements in place and proof of payments are in tact. Location is everything and this property is only 10 minutes away from USC and close to the 110 freeway for convenience. Property also has a large gated parking lot to accommodate all tenants. The potential for growth while receiving positive cash flow does not come around often. Take a look now while this investment opportunity is available!

Listed by Robby Moon | BRE #01958214 | Moon Realty
Co-listed by Stmaltzin Torresmalaga | BRE #01988751 | Moon Realty
Last checked: 6 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 33

Home details

Lot Sq. Ft
4,625
HOA Dues
$0/mo
Year built
1922
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
AR21241799
City
Los Angeles
County
Los Angeles
Time on Site
921 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Electric Meters: 2
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 2
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,700
  • Total Rent: $1,700
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,400
  • Total Rent: $1,300
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,200
  • Total Rent: $1,200
  • Pro Forma/Market Rent: $1,700
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,100
  • Total Rent: $1,000
  • Pro Forma/Market Rent: $1,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $65,400
  • Net Operating Income: $51,392
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $11,008
  • Electric: $1,498
  • Gas/Fuel: $1,500
  • Trash: $1,440
  • Insurance: $2,600
  • Water/Sewer: $3,970

Property Details for 244 W 62nd St

Interior Features
Laundry Information
  • Has Laundry
  • Gas & Electric Dryer Hookup, Inside
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 2-5 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 4
  • Parcel Number: 6005021013
  • 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: Large Cross Street is Gage Ave
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Street Lights
View more facts & features

Local Los Angeles Agent

Sale History for 244 W 62nd St

Last sold for $750,000 on January 11th, 2022

  • December, 2021

  • Dec 22, 2021

    Date

    Pending

    CRMLS: AR21241799

    $789,000

    Price

  • December, 2021

  • Dec 22, 2021

    Date

    Pending

    CRMLS: AR21241915

    $789,000

    Price

  • Listing provided courtesy of CRMLS

    Amazing opportunity to own this 4 unit property with positive cash flow. $5,450/month of rent collected. Never missed a payment. All lease agreements in place and proof of payments are in tact. Location is everything and this property is only 10 minutes away from USC and close to the 110 freeway for convenience. Property also has a large gated parking lot to accommodate all tenants. The potential for growth while receiving positive cash flow does not come around often. Take a look now while this investment opportunity is available!

  • June, 2021

  • Jun 1, 2021

    Date

    Expired

    CRMLS: DW21013179

    $829,999

    Price

  • Feb 23, 2021

    Date

    Price Change

    CRMLS: DW21013179

    $829,999

    Price

  • Jan 21, 2021

    Date

    Active

    CRMLS: DW21013179

    $849,999

    Price

  • Listing provided courtesy of CRMLS

    Amazing Investment Opportunity! One building with 4 units fully occupied to collect cash flow from the get go. It is located only 10 min away from USC and in close proximity to the 110 fwy to make it an easy comfortable commute. 3 units consist of 1 Bedroom 1 Bath each and the 4th unit is 2 Bedrooms 1 Bath. Property has rear parking though alley access to accommodate all tenants.

  • August, 2018

  • Aug 6, 2018

    Date

    Sold (Public Records)

    Public Records

    $660,000

    Price

  • January, 2016

  • Jan 29, 2016

    Date

    Sold (Public Records)

    Public Records

    $485,000

    Price

Show More

Tax History for 244 W 62nd St

Assessed Value (2020): $673,200
Year Land Value Improved Value Assessed Value
2020 $367,200 $306,000 $673,200

Home Value Compared to the Market

This property vs the competition

244 W 62nd St sold on January 11, 2022 for 33.7% 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 $233.09 per/sqft which puts the price per square foot 69.13% lower than the current median sale per square foot for the city of Los Angeles.

About 244 W 62nd St

Detailed summary of property

244 W 62nd St is a multi family that recently sold in Los Angeles, CA 90003. This multi family property offered 5 bedrooms, 4 bathrooms, roughly 3,385 living square feet, and sits on an approximately 4,625 square foot lot. 244 W 62nd St was first listed on ArdentRealEstateGroup.com on November 3, 2021. The homeowner sold the property for $750,000. 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 33.7% lower than the current median priced home. Local homes that are currently for sale include 820-822 W 61st St, 837 W Gage Ave and 7407 S Figueroa St. While the average home in Los Angeles, CA is selling in 93 days, 244 W 62nd St has a days on market of 33 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 244 W 62nd 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 244 W 62nd St

Public county record property details
Beds
5
Baths
4
Year built
1922
Sq. Ft.
3,385
Lot Size
4,624
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
180
APN
6005-021-013

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
$590,000
Median List Price/Sq.Ft.
$582
Median Sold Price
$540,000
Median Sold Price/Sq.Ft.
$534
Total Inventory
36
Median Sale to List Price %
100%
Avg Days on Market
66
Loan Type
Conventional (0%), FHA (66.67%), VA (0%), Cash (0%), Other (16.67%)

Thinking of Selling?

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(714) 706-1823

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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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