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Back 240 E 60th St
Off Market

240 E 60th St

Los Angeles CA 90003

23
10
6
8864 sq. ft.
9240 sq. ft.
Other
Last sold for $1,735,000
Chase SimontonChase Simonton, last sold this property on 31 December 2025 after 131 days on market.

Overview

(8.23 GRM / 7.70 CAP RATE w/ 48% REMAINING RENTAL UPSIDE) MASSIVE UNITS $203.07 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.

Features

23 bedrooms
10 bathrooms
6 carspaces
8864 sq. ft. floor area
9240 sq. ft. lot size
Other

Estimated Value

We need at least 3 similar 23 bedroom other properties sold in Los Angeles over the last 12 months.

Property history for 240 E 60th St

2025
Sold
$1,735,000
31 Dec 2025 by Chase Simonton, of RE/MAX One
2024
Sold
$1,775,000
27 Aug 2024 by Max Berger, of Compass
2017
Sold
$1,275,000
12 Dec 2017 by Pablo Hernandez

Happy sellers in Los Angeles

95%
95% of sellers in Los Angeles reported that their sale price either exceeded or met their price expectations.

Los Angeles stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 4 reviews in Los Angeles over the last 12 months.

Local market activity for 23 bedroom other properties in Los Angeles

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