370%+ Rental Upside | 212 E 62nd St
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370%+ Rental Upside 212 E 62nd St
4 Unit Apartment Building $779,608 CAD ($194,902 CAD/Unit) 1.03% Cap Rate Los Angeles, CA 90003
Executive Summary
We are pleased to present 212 E 62nd St, 4-unit property located in Los Angeles. This opportunity is situated in close proximity to the 110-freeway offering easy access to LAX, Sofi Stadium, Downtown Los Angeles, the Convention Center, USC Coliseum. The property’s central location is also a short drive to neighboring cities such as Crenshaw/Leimert Park, Inglewood, Huntington Park and Walnut, offering tenants numerous nearby amenities.
Priced attractively at $137,000 per unit and at $276/ sf, this value-add opportunity presents over 370% upside in rents to a 4.68 GRM and a 17.23% CAP at market. All units are currently occupied with low rents providing an enormous amount of upside.
The property consists of three separate structures constructed in 1928 with a unit mix of 1 two-bedroom units and 3 one-bedroom units. The property also features four 1-car garages in the rear accessible from the alley providing potential for ADU conversions.
Contact Casey Lins at 714-333-6768 or Casey.Lins@kidder.com for additional information.
Priced attractively at $137,000 per unit and at $276/ sf, this value-add opportunity presents over 370% upside in rents to a 4.68 GRM and a 17.23% CAP at market. All units are currently occupied with low rents providing an enormous amount of upside.
The property consists of three separate structures constructed in 1928 with a unit mix of 1 two-bedroom units and 3 one-bedroom units. The property also features four 1-car garages in the rear accessible from the alley providing potential for ADU conversions.
Contact Casey Lins at 714-333-6768 or Casey.Lins@kidder.com for additional information.
Property Facts
| Price | $779,608 CAD | Building Class | C |
| Price Per Unit | $194,902 CAD | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 1,996 SF |
| Cap Rate | 1.03% | Average Occupancy | 100% |
| Gross Rent Multiplier | 22 | No. Stories | 1 |
| No. Units | 4 | Year Built | 1928 |
| Property Type | Multifamily | Parking Ratio | 2/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $779,608 CAD |
| Price Per Unit | $194,902 CAD |
| Sale Type | Investment |
| Cap Rate | 1.03% |
| Gross Rent Multiplier | 22 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 1,996 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1928 |
| Parking Ratio | 2/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | $778.90 CAD | 499 |
| 2+1 | 1 | $656.29 CAD | 499 |
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PROPERTY TAXES
| Parcel Number | 6006-012-015 | Improvements Assessment | $158,119 CAD |
| Land Assessment | $521,798 CAD | Total Assessment | $679,916 CAD |
PROPERTY TAXES
Parcel Number
6006-012-015
Land Assessment
$521,798 CAD
Improvements Assessment
$158,119 CAD
Total Assessment
$679,916 CAD
zoning
| Zoning Code | LAR2 |
| LAR2 |
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370%+ Rental Upside | 212 E 62nd St
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