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$ 850,000
Est. payment /mo
New
1029 E 28th ST Los Angeles, CA 90011
17 Beds
7 Baths
5,044 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,044 sqft
Price per Sqft $168
MLS Listing ID 26853639
Bedrooms 17
HOA Y/N No
Year Built 1955
Lot Size 7,501 Sqft
Property Description
Value-Add 5-Unit Multifamily Investment Near Downtown Los Angeles. Excellent opportunity to acquire a value-add 5-unit apartment building located just minutes from Downtown Los Angeles. This income-producing asset features a desirable unit mix consisting of four (4) spacious 3-bedroom, 1-bath units and one (1) oversized 5-bedroom, 2-bath unit, offering strong appeal to tenants seeking larger living spaces. The property is currently generating actual rental income with a Gross Operating Income (GOI) of $108,513, a GRM of 7.8, and a 6.9% CAP rate based on current operations. Annual operating expenses total $49,831. While the property requires repairs and improvements, it presents an outstanding value-add opportunity for investors looking to enhance the asset through renovations, operational efficiencies, and long-term appreciation. The large unit configuration and proximity to Downtown Los Angeles provide a solid foundation for future upside. Submit offers subject to inspection. Do not disturb occupants.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LARD1.5
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Driveway
Total Parking Spaces 5
Building
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5128023031
Special Listing Condition Standard
Listed by Melissa Urena Real Broker #01900591