1740 W 62nd Street

    Los Angeles (City), CA 90047
    • $675,000
    • STATUS: Active
    • ON SITE: 85 days
    • ID#: PW18203098
    UPDATED: 115 min ago
    $675,000
    • 0
      BEDS
    • 0.11
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,590
      SQFT
    • $261
      $/SQFT
    Type:
    Multi-Family
    Built:
    1926
    County:

    School Ratings & Info

    Description

    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, 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.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-14T00:30:49.157. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/86733191

    1740 W 62nd Street Los Angeles (City), CA 90047

    • Price: $675,000
    • Status: Active
    • Updated: 115 min ago
    • ID#: PW18203098
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.11
    Acres
    2,590
    SQFT
    $261
    $/SQFT
    1926
    Built
    Neighborhood:
    C34 - Los Angeles Southwest
    County:
    Los Angeles
    Area:
    C34 - Los Angeles Southwest
    Property Description
    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, 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.
    Exterior Features

    Garage Spaces 4.00 Lot Features Lot Shape-Rectangular Lot Size Source Assessor Lot Size Units Square Feet Parking Total 4.00 Pool Features None Pool Private YN No Property Attached YN No

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls No Common Walls Laundry Features None

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features Urban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 0.00 Gross Scheduled Income 57408.00 Insurance Expense 0.00 Land Lease YN No Laundry YN No Net Operating Income 28445.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 0 Operating Expense 27241.00 Professional Management Expense 0.00 Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 27241.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Steven Bogoyevac of Steven M. Bogoyevac, Broker.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-14T00:30:49.157. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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