440 E 27th, Los Angeles, CA 90011
440 E 27th, Los Angeles, CA 90011
440 E 27th, Los Angeles, CA 90011
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$3,150,000
Est. payment /mo
6,250 Sqft Lot
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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR26039501

Construction Status Updated/Remodeled,Turnkey

HOA Y/N No

Year Built 1925

Lot Size 6,250 Sqft

Property Sub-Type Apartment

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 $4.94 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 8.07% and a 10.12% Cash-on-Cash return. This performance significantly exceeds the market average CAP rate of 7.11%, making it an exceptional opportunity for investors seeking robust, immediate cash flow.
• Substantial Built-In Revenue Upside: There is significant potential for growth, with the pro forma CAP rate projected at 8.55% and a Cash-on-Cash return of 11.72%. Financial projections show that monthly income can grow from the current $33,661 to a market rate of $41,375, representing a nearly 23% 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 active revitalization and sits within a demographic area projected to have an average household income of $81,857 within a 3-mile radius by 2026.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning RD1.5-1

Interior

Interior Features Ceiling Fan(s), Multiple Staircases, Quartz Counters

Heating Natural Gas, Wall Furnace

Cooling None

Flooring Laminate

Fireplaces Type None

Fireplace No

Appliance Gas Oven, Gas Range, Refrigerator

Laundry Common Area

Exterior

Parking Features None

Fence Wrought Iron

Pool None

Community Features Sidewalks, Urban

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N Yes

View Mountain(s), Neighborhood

Roof Type Flat

Private Pool No

Building

Lot Description Level, Over 40 Units/Acre, Near Public Transit, Rectangular Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Architectural Style Spanish

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled,Turnkey

Others

Senior Community No

Tax ID 5128009006

Security Features Closed Circuit Camera(s),Carbon Monoxide Detector(s),Fire Rated Drywall,Smoke Detector(s)

Energy Description 5027.0

Acceptable Financing Cash, Cash to New Loan, Conventional, Submit

Listing Terms Cash, Cash to New Loan, Conventional, Submit

Special Listing Condition Standard

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Listed by Logan Altman Altman Apartments LLC 310-903-0222, DRE #01965826

NEARBY SCHOOL & BUSINESS

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