2938 East 60th Place

Huntington Park, CA 90255

$2,300,000
Price
18
Beds
9
Baths
7,650 Sq. Ft.
$301 / Sq. Ft.
7,650
Sq. Ft.
$301
per Sq. Ft.

Description

New pricing. We are pleased to offer for sale a 9 unit apartment building in the city of Huntington Park. The asset consists of three 3 bedroom-1.5 bathroom and six 2 bedroom-1 bathroom units. This offering presents an opportunity for an investor to add value through management and rehabilitation in a high-density, high-demand in-fill rental market. The city of Huntington Park does not have a rent control ordinance and the owner is only bound by AB 1482, which allows for up to 8.8% rent increases...New pricing. We are pleased to offer for sale a 9 unit apartment building in the city of Huntington Park. The asset consists of three 3 bedroom-1.5 bathroom and six 2 bedroom-1 bathroom units. This offering presents an opportunity for an investor to add value through management and rehabilitation in a high-density, high-demand in-fill rental market. The city of Huntington Park does not have a rent control ordinance and the owner is only bound by AB 1482, which allows for up to 8.8% rent increases annually. Situated in a very attractive, quiet pocket of Huntington Park, the building has 9 carport spaces, on-site laundry, and is separately metered for gas and electricity. The city of Huntington Park is centrally located close to the employment centers of Vernon and Downtown Los Angeles. The property enjoys close proximity to Pacific Boulevard, the city's main retail corridor.
  1. Listed by Darin Spillman • DRE #01366902 • Brokerage DRE #01001040 • Kidder Mathews of California, Inc.

Property Details for 2938 East 60th Place

Zoning
HPR3YY
Parcel Number
6310022007
Total Units
9.0
Living Area
7650
Source Living Area
Assessor
Area
Vernon, Maywood, Hunt Pk & Bell, N of Florence, W of 710
Vacancy Rate
0
Lot Size Area
9002
LISTING UPDATED: 07/08/2024 03:52 PM

Property Details for 2938 East 60th Place

StatusActive
MLS #24-380259
Days on Market200
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size0.21 AC / 9,002 SF
CountyLos Angeles County

Building Information for 2938 East 60th Place

Stories2Residences-Year Built1962Building Size-Lot Size0.21 AC / 9,002 SF

Property Information for 2938 East 60th Place

Community / Development
Community / Development
  • Number Of Units: 9
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: apt
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash To New Loan
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $174,120
  • Net Operating Income: $106,050.00
  • Gross Income: $174,120
  • Cap Rate: 4.60%
  • Gross Rent Multiplier: $13.20
  • Total Annual Expense: 64587
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2067
  • Lot Size Square Feet: 9002
Parking Details
Parking Details
  • Parking Garage: Carport Detached, Carport Attached
  • Total Parking: 9
  • Carport Spaces Total: 9
  • Parking Features: Detached Carport, Attached Carport
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: One
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-15-2024
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,680.00
  • Unit Actual Rent: $3,360.00
  • Unit Projected Rent: $3,360.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,400.00
  • Unit Actual Rent: $1,400.00
  • Unit Projected Rent: $1,400.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,700.00
  • Unit Actual Rent: $3,400.00
  • Unit Projected Rent: $3,400.00
  • Like Units: 2
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,500.00
  • Unit Actual Rent: $6,000.00
  • Unit Projected Rent: $6,000.00
  • Like Units: 4
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $655,571.00
  • Assessed Improvement Percent: 58.93
  • Assessed Land Value: $456,943.00
  • Assessed Land Percent: 41.07
  • Assessed Total Value: $1,112,514.00

Property History for 2938 East 60th Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2938 East 60th Place

Taxable ValueLand$466,081Additions$669,122Total$1,135,203
Tax Record2024$18,903 ($1,575 / month)
Home Facts
Total Finished SqFt7,650 SqFtAbove Grade Finished SqFt7,650 SqFtLot Size9,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningHPR3YYCountyLOS ANGELESAPN6310-022-007

Schools near 2938 East 60th Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
San Antonio Elementary School
PublicK to 5

Henry T. Gage Middle School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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2938 East 60th Place is a multi-family home for sale in Huntington Park, CA 90255. This property was listed for sale on April 14, 2024 by Kidder Mathews of California, Inc., it's currently listed at $2,300,000. This listing's school district is Los Angeles Unified School District. Nearby schools include San Antonio Elementary School, Henry T. Gage Middle School and Linda Esperanza Marquez High B Libra Academy. 2938 East 60th Place is a 18-bed, 9-bath, 7,650 sqft multi-family home built in 1962.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Kidder Mathews of California, Inc., Darin Spillman, DRE #01366902

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.