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Additional details
$ 3,150,000
Est. payment /mo
Active
440 E 27th Los Angeles, CA 90011
1 Bed
2 Baths
6,253 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26039501
Bedrooms 1
Lot Size 6,253 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Investment Highlights Comprehensive 2024 Gut Renovation with New COFO: The entire building was gut renovated, resulting in a new Certificate of Occupancy issued in 2024. Over $1.2 million in capital improvements were completed, including all-new plumbing, electrical systems, drywall, paint, flooring, and cabinetry. This turnkey status provides investors with a high-quality asset and minimal immediate maintenance requirements. Proven Micro-Unit Model with Strong Rental Yield: The building features 23 units comprised primarily of micro-units (87% studios) designed to serve budget-oriented residents in Los Angeles. This high-efficiency model yields an impressive rent of $5.28 per square foot, justifying the property's valuation through proven rental demand for smaller, affordable living spaces. Immediate Financial Performance and High Returns: At an asking price of $3,150,000, the property offers a current CAP rate of 6.25% and a 4.04% Cash-on-Cash return, with substantial mark-to-market upside as legacy leases are brought to the propertys own recently-achieved renovated rents. Substantial Built-In Revenue Upside: There is significant potential for growth, with the pro forma CAP rate projected at 7.74% and a Cash-on-Cash return of 9.02%. Financial projections show that monthly income can grow from the current $34,290 to a market rate of $38,337, representing an approximately 12% revenue increase as legacy leases are marked to market. Strategic Location in Historic South Central Hub: Located at 440 E 27th Street, the property is nestled in a thriving rental hub near the Un
Location
State CA
County Los Angeles
Zoning Assessor
Direction I-10E to South on Maple Ave to Left on 27th Street
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5128009006
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Logan Altman, DRE#01965826 Altman Apartments LLC
NEARBY SCHOOL & BUSINESS
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