15
See all 15 photos
$3,000,000
Est. payment /mo
1 Bed
2 Baths
6,253 Sqft Lot
Price Dropped by $150K
440 E 27th Los Angeles, CA 90011
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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 $3,000,000, the property offers a current CAP rate of 8.54% on the buyer's reassessed tax basis, with substantial mark-to-market upside as legacy leases are brought to the property's own recently-achieved renovated rents. Substantial Built-In Revenue Upside: 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 University of Southern California (USC) and major transit routes like the Expo Line. The neighborhood is experiencing activ
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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