Two-Tenant Building on Corner
1861 E 62nd Los Angeles, CA 90001
For Sale
$600,000
Two-tenant building on a corner lot with parking.
Property Size2,216 SF
Lot Size0.15 Acres
Price / SF$270.76
Days on Market94
Property Features for 1861 E 62nd
General Information
- Standard status
- Active
- Size
- 2,216 SF
- Lot size
- 0.15 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1914
Listing Agency:
(323) 485-4518
Listed By:
"NINO" CEFERINO ZEPEDA · License #01880762
(323) 485-4518
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 26 at 4:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of "NINO" CEFERINO ZEPEDA
Investment Insights
Based on property information with market context.
This two-tenant building is located at 1861 E 62nd St, situated between Slauson and Gage Ave. The corner lot property is currently occupied by an RV manufacturer and a lunch truck manufacturer. The property includes office spaces. The rear tenant is a wrought iron shop. Storage areas are available. The property has parking for clients' vehicles. Constructed in 1914, the one-story building has a Class C rating. The building size is 2,216 square feet, situated on a 6,708 square foot lot. The property has 51 feet of frontage on 62nd Street. The property is 100% leased. The zoning is LCM3*, supporting commercial, office, and residential mixed uses. The property has a Walk Score of 95, indicating it is a Walker's Paradise, a Bike Score of 58, indicating it is Bikeable, and a Transit Score of 60, indicating Good Transit.
Key Highlights
- High Walk Score (95): Situated in a "Walker's Paradise," indicating excellent walkability and access to amenities.
- Fully Leased Investment Property: Currently 100% leased, providing immediate income for investors.
- Strategic Corner Lot Location: Located on a corner lot between Slauson and Gage Ave, benefiting from high traffic volume and exposure.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.8k | $36.00 |
| − Vacancy | −$8.0k | −$3.60 |
| EGI | $71.8k | $32.40 |
| − OpEx | −$26.9k | −$12.15 |
| NOI | $44.9k | $20.25 |
2,216 SF · lease $36.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$641.1K
$560.9K – $747.9K
NOI $44,874 @ 7.0% cap · market cap 7.48%
Second Best
Industrial
$393.3K
$344.1K – $458.8K
NOI $27,528 @ 7.0% cap · market cap 4.59%
Theoretical Best
Multifamily LT 5
$44.89M
$39.28M – $52.38M
NOI $3,142,638 @ 7.0% cap · market cap 523.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Mixed-use properties
FAQs
What type of property is this?
Mixed-use property - Two-tenant building on a corner lot with parking.
Where is this mixed-use property located?
The property is located at 1861 E 62nd Los Angeles, CA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: High Walk Score (95): Situated in a "Walker's Paradise," indicating excellent walkability and access to amenities.; Fully Leased Investment Property: Currently 100% leased, providing immediate income for investors.; Strategic Corner Lot Location: Located on a corner lot between Slauson and Gage Ave, benefiting from high traffic volume and exposure.
