Description
815 W 62nd Pl is a value add 5-unit apartment fit for any investor looking to capitalize on a growing submarket of Los Angeles. Sandwiched between Inglewood's new SoFi stadium and USC, 815 W 62nd brings an investor the opportunity to purchase a cash-flowing asset withachievable rental upside. With 80% of the property rented with Section 8, this remodeled asset provides an investorthe chance to capitalize on the great rental income Section 8 has to offer. This renovated apartment buildingis located in the 90044 Zip code in Los Angeles and is priced at 13.34 GRM and a 4.77% cap rate.The subject property has a unit mix of (4) 1-Bed/1-Bath and (1) 2-Bed/1-Bath Units. With 4/5 units rented withSection 8, this property has the potential to operate at a 7.66% cap rate and 9.54 GRM. This property offers investors the rare opportunity to cash flow immediately with an achievable rental upside.The subject property is within walking distance of many local restaurants and grocery markets. 815 W 62nd is just 2 milesfrom USC and less than 3 miles from Inglewood.
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0.13ACRES
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01/2 BATHS
School Ratings & Info
Description
815 W 62nd Pl is a value add 5-unit apartment fit for any investor looking to capitalize on a growing submarket of Los Angeles. Sandwiched between Inglewood's new SoFi stadium and USC, 815 W 62nd brings an investor the opportunity to purchase a cash-flowing asset withachievable rental upside. With 80% of the property rented with Section 8, this remodeled asset provides an investorthe chance to capitalize on the great rental income Section 8 has to offer. This renovated apartment buildingis located in the 90044 Zip code in Los Angeles and is priced at 13.34 GRM and a 4.77% cap rate.The subject property has a unit mix of (4) 1-Bed/1-Bath and (1) 2-Bed/1-Bath Units. With 4/5 units rented withSection 8, this property has the potential to operate at a 7.66% cap rate and 9.54 GRM. This property offers investors the rare opportunity to cash flow immediately with an achievable rental upside.The subject property is within walking distance of many local restaurants and grocery markets. 815 W 62nd is just 2 milesfrom USC and less than 3 miles from Inglewood.
Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-19T12:34:09.423. 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 or Massa & Associates Real Estate Group | eXp California Realty Inc. Licensed in the State of California, USA.