$599,999

600 E 87th St Los Angeles, CA 90002

Green Meadows Neighborhood

Estimated payment $3,756/month

Total Views 2,853
-- Bed
5 Baths
1,872 Sq Ft
$321 Price per Sq Ft

Highlights

  • No HOA
  • Level Lot
  • 1-Story Property

About This Home

600 E 87th Street, Los Angeles — REDUCED TO $599,000. Five units with parking with huge upside at 4% cap rate and rents are way below marekt. Discover a reliable cash-flow opportunity at this five-unit multifamily on a corner lot near Manchester Ave & the 110. All five units are occupied by long-term tenants, delivering immediate, stable income, while practical floor plans and a solid operating history support low vacancy and quick leasing. Clear pathways to increase value include rent optimization and light operational improvements. Recent upgrades feature individual electrical sub-panels for each unit—enhancing safety, efficiency, and compliance. Residents benefit from gated parking and a central LA location with unbeatable access to Downtown, LAX, major employment centers, retail, dining, and transit, fueling strong renter demand and long-term rent growth. Set within a neighborhood seeing active revitalization, this is a rare chance to acquire a stabilized asset with in-place income today and value-add potential tomorrow.

Listing Agent

Bill Mulkey

TR Wealth Management Inc. Brokerage Phone: 310-919-7554 License #00986020 Listed on: 10/18/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1947

Lot Details

  • 5,500 Sq Ft Lot
  • Two or More Common Walls
  • Level Lot
  • Density is up to 1 Unit/Acre

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 5 Bathrooms
  • 1,872 Sq Ft Home
  • 1-Story Property

Parking

  • 5 Open Parking Spaces
  • 5 Parking Spaces
  • Parking Available
  • Paved Parking

Location

  • Urban Location

Listing and Financial Details

  • Tax Lot 85
  • Tax Tract Number 1977
  • Assessor Parcel Number 6042004015
  • $1,466 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 5 Units

Building Details

  • 5 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Fuel Expense $1,174
  • Insurance Expense $2,808
  • Maintenance Expense $860
  • Trash Expense $500
  • Water Sewer Expense $5,063
  • New Taxes Expense $7,800
  • Operating Expense $18,204
  • Gross Income $3,580
  • Net Operating Income $18,179

Property Details

Home Type

Multi-Family

Year Built

Built in 1947

Lot Details

0

Listing Details

  • CapRate: 4.10
  • Property Attached: Yes
  • Water Sewer Expenses: 5063.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 6042004015
  • Year Built: 1947
  • Special Features: None

Interior Features

  • Stories: 1
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 320.51

Exterior Features

  • Pool Private: No

Garage/Parking

  • Parking: Yes
  • Parking Features: Paved, On Site
  • Total Parking Spaces: 5.00
  • Uncovered Spaces: 5.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Trash Expense: 500.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Urban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre, Level with Street
  • Lot Size Sq Ft: 5500.00
  • Lot Size Acres: 0.1263

Multi Family

  • Average Studio Area: 380 Square Feet
  • Fuel Expense: 1174.00
  • Gross Income: 3580.00
  • Gross Multiplier: 13.90
  • Gross Operating Income: 42960.00
  • Gross Scheduled Income: 42960.00
  • Insurance Expense: 2808.00
  • Lot Size Area: 5500.0000 Square Feet
  • Maintenance Expense: 860.00
  • Net Operating Income: 18179.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 5
  • Number Of Units Total: 5
  • Operating Expense: 24781.00
  • Rent Control: Yes
  • Total Actual Rent: 3380.00
  • Total Expenses: 18204.00

Tax Info

  • New Taxes Expense: 7800.00
  • Tax Lot: 85
  • Tax Tract Number: 1977
  • TaxOtherAnnualAssessmentAmount: 1466.00

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/18/2025 10/18/25 For Sale $599,999 -- $321 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SB25238693

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Los Angeles 90002 Green Meadows

600 E 87th St, Los Angeles, CA

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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Bill Mulkey
Listing Agent
Bill Mulkey
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TR Wealth Management Inc.
(310) 919-7554