821 West 62nd Street

Los Angeles, CA 90044

$998,000
Price
3
Beds
5
Baths
2,194 Sq. Ft.
$455 / Sq. Ft.
2,194
Sq. Ft.
$455
per Sq. Ft.

Description

Pinnacle Real Estate Group is pleased to present a 5-unit investment property with substantial value-add potential. Location! Location! Location! Perfectly situated in the vibrant heart of South Los Angeles, near Exposition Park and rapidly developing city of Inglewood. This 5 unit apartments perfect for either an investor or a first time home buyer who wants to live in one unit and rent the others out. This property comprises Four 1Bedroom/1Bath and one two-bedroom unit. Upon stabilizing at market...Pinnacle Real Estate Group is pleased to present a 5-unit investment property with substantial value-add potential. Location! Location! Location! Perfectly situated in the vibrant heart of South Los Angeles, near Exposition Park and rapidly developing city of Inglewood. This 5 unit apartments perfect for either an investor or a first time home buyer who wants to live in one unit and rent the others out. This property comprises Four 1Bedroom/1Bath and one two-bedroom unit. Upon stabilizing at market rent levels, this asset can achieve a High CAP Rate . The building is 2194 square feet and sits on a 6930square-foot lot. This property is an exceptional investment opportunity. The major attractions such as SoFi Stadium, Kia Forum, and Exposition Park, and close to employment hubs like Los Angeles International Airport and West LA, it appeals to a diverse range of renters. Benefitting from convenient access to key freeways including I-10, I-110, US-101, and I-5, as well as public transportation options, the property offers seamless connectivity across Los Angeles.
  1. Listed by XIAO TU • DRE #01932283 • Brokerage DRE #01918023 • Pinnacle Real Estate Group • 626-510-7189

Property Details for 821 West 62nd Street

Architectural Style
Bungalow
View
City Lights
Parking Spaces Total
3
Private Pool
No
Total Units
5.0
Building Type
Detached
Lot Size Source
Public Records
Living Area
2194
LISTING UPDATED: 11/16/2024 10:43 PM

Property Details for 821 West 62nd Street

StatusActive
MLS #WS24116816
Days on Market118
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1926
CountyLos Angeles County

Building Information for 821 West 62nd Street

Building/Complex821 W 62nd StFloor-Stories1Residences-Pet Policy-Year Built1926Building Size-

Property Information for 821 West 62nd Street

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $55,200
  • Gross Scheduled Income: $70,800
  • Vacancy Allowance Rate: 0
  • Net Operating Income: $56,325
Expense Details
  • Operating Expense: $14,475
  • Insurance Expense: $1,980
  • Professional Management Expense: $300
  • Trash Expense: $120
  • Total Expenses: $2,400
Tax / Assessment Info
  • Tax Tract Number: 291
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 011
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Street Lights
Property / Structure Info
Interior Features
  • Room Type: All Bedrooms Down
  • Bedroom Features: All Bedrooms Down
  • Laundry: No
  • Laundry Features: None
  • Fireplace Features: None
  • Fireplace Rooms: None
Exterior Features
  • Entry Location: W 62nd Street
  • Fence: Yes
  • Fence: Wrought Iron
  • Fencing: Wrought Iron
  • View Description: City Lights
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 36-40 Units/Acre
  • Number Of Units: 5
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Alley Paved
  • Road Frontage Type: City Street
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 1
  • Parking Garage: Assigned, On street
  • Uncovered Spaces: 2
  • Open Other Spaces Total: 2
  • Parking Garage Spaces: 1
  • Carport Spaces: 0
  • Parking Features: Assigned, Street
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $3,300
  • Unit Type Total Rent: $3,300
  • Unit Type Pro Forma: 4500
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,300
  • Unit Type Total Rent: $1,300
  • Unit Type Pro Forma: 1500
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 5
  • Rent Controlled: Yes
  • Number Of Buildings: 5
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 5
  • Number With Dishwasher: 0
  • Number With Range: 5
  • Number With Refrigerator: 5
  • Number Wall AC: 5

Property History for 821 West 62nd Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 821 West 62nd Street

Taxable ValueLand$501,981Additions$111,950Total$613,931
Tax Record2024$8,219 ($685 / month)
Home Facts
Total Finished SqFt2,194 SqFtAbove Grade Finished SqFt2,194 SqFtLot Size6,931 SqFtStyleMulti-Family Res (5+ Units)Year Built1926ZoningLARD2CountyLOS ANGELESAPN6004-012-011

Schools near 821 West 62nd Street

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

John Muir 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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821 West 62nd Street is a multi-family home for sale in Los Angeles, CA 90044. This property was listed for sale on June 8, 2024 by Pinnacle Real Estate Group, it's currently listed at $998,000. It has been on the market for a total of 118 days and was last sold on April 23, 2014. This listing's school district is Los Angeles Unified School District. Nearby schools include Sixty-First Street Elementary School, John Muir Middle School and Augustus F. Hawkins High A Critical Design And Gaming. 821 West 62nd Street is a 3-bed, 5-bath, 2,194 sqft multi-family home built in 1926.

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 Pinnacle Real Estate Group, XIAO TU, DRE #01932283

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.