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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 3,000,000

Est. payment | -/mo

1 Bed

2 Baths

6,253 Sqft Lot

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$ 3,000,000

Est. payment | -/mo

Save

1 Bed

2 Baths

6,253 Sqft Lot

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 6.62% and a 5.29% 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 8.19% and a Cash-on-Cash return of 10.52%. 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 U

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

+1(619) 302-3010

matt@homecrave.com

San Diego, CA 92124

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440 E 27th Los Angeles, CA 90011