610 E 24th St - Apartments FOR SALE


Los Angeles, CA 90011- Southeast Los Angeles | 
$990,000 USD
310-968-7005
610 E 24th St, Los Angeles, CA for Sale
$990,000 USD
Apartments - FOR SALE
1/7
null | 1% Cap Rate

610 E 24th St
Los Angeles, CA 90011
Southeast Los Angeles


HIGHLIGHTS

  • 610 East 24th St. is a South Central fourplex just minutes from USC, Exposition Park, and Downtown Los Angeles.
  • Includes 3 separate buildings totaling approx. 4,048 SF on a spacious 9,644 SF corner lot.
  • Includes (2) 4-bdrm./2-bath residences and (2) 2-bdrm./1- bath units (larger units than average fourplexes).
  • Approx. 53% rental upside - based on projected market rents, we expect the property to generate $10,300 in gross monthly rental income.
  • Large central parking area provides substantial off-street parking, adding practical day-to-day functionality for residents.
  • The front residence features Craftsman-influenced bungalow character with a covered porch, bay window, and fenced yard.

OVERVIEW

610 East 24th St is a 4-unit property in Historic South Central, offered at $990,000 with approx. 53% rental upside. Built in 1910, the property includes 3 separate buildings totaling approx. 4,048 SF, on a spacious 9,644 SF corner lot. The unit mix is comprised of (2) 4-bdrm. /2-bath residences and (2) 2-bdrm./1-bath units, giving the property larger floor plans than are typically found in a fourplex. The property has a distinctly residential feel, led by a Craftsman-influenced front residence with gabled rooflines, exposed eaves, a covered front porch, bay window, and fenced yard. The additional buildings are positioned toward the rear of the property, creating greater separation between the four units, while a large central parking area provides substantial off-street parking for residents. Current gross rents total $6,730 per month, compared with projected rents of $10,300 per month, representing approx. 53% rental upside. Located just south of Downtown Los Angeles, 610 East 24th Street provides convenient access to USC, Exposition Park, the LA Fashion District, and surrounding South Los Angeles neighborhoods. USC is approx. 1.5 miles away, the Fashion District approx. 1.4 miles, and Exposition Park approx. 1.7 miles, placing education, employment, retail, museums, sports, and entertainment within a relatively compact radius. 610 East 24th Street brings together larger residential units, three separate buildings, and a location with convenient access to USC, Exposition Park, and Downtown Los Angeles. With current rents below the projected rents shown in the property’s rent roll, there is also a clear path for income to grow over time.

FOR SALE DETAILS

PRICE

$990,000 USD

PRICE/SF

$245 USD /SF

# OF UNITS

4

PRICE/UNIT

$247,500

CAP RATE

1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

4 Units Across 3 Buildings | 53% Rent Upside

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1922

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,644 SF

ZONING

R4-2, Los Angeles

APN/PARCEL ID

5127-009-001

ASK ABOUT THIS PROPERTY

Kenny StevensCompassMore Info
310-968-7005

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Kenny StevensCompassMore Info
310-968-7005

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.