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27th Street Apts – University Park 440 E 27th St 23 Unit Apartment Building $4,136,820 CAD ($179,862 CAD/Unit) 8.54% Cap Rate Los Angeles, CA 90011
Investment Highlights
- Turn-Key 2024 Gut Renovation with New COFO
- High-Efficiency Micro-Unit Model
- 8.54% In-Place Cap on $256,328 NOI
- Deep Mark-to-Market Upside
- Owner-Friendly, Individually-Metered Operations
- Historic South Central / University Park Location
Executive Summary
PRICE IMPROVEMENT — now $3,000,000, reduced $150,000. 27th Street Apartments is a fully gut-renovated 23-unit multifamily asset in Historic South Central / University Park, Los Angeles, offered at an 8.54% in-place cap rate on $256,328 of net operating income.
DEEP MARK-TO-MARKET: 17 of the 23 units are below market or vacant. Marking legacy leases to the property's own recently-achieved renovated rents grows scheduled income materially — the core of the value-add thesis.
TURN-KEY 2024 GUT RENOVATION: The entire building was gut renovated with a new Certificate of Occupancy issued in 2024 — over $1.2 million in capital improvements including all-new plumbing, electrical, HVAC, drywall, flooring and cabinetry, with five additional units created during the renovation. A new owner inherits a de-risked, minimal-capex asset.
HIGH-EFFICIENCY STUDIO MODEL: 20 of 23 units are studios — the most liquid and resilient segment of the Los Angeles rental market, with the lowest turnover cost per unit.
USC-ADJACENT LOCATION: Set in University Park near the USC campus and the Metro Expo Line, with durable workforce and student rental demand and direct access to Downtown Los Angeles.
Offered individually or as part of a 7-asset Central-LA portfolio. Full OM, proforma, T-12 and rent roll available. Full co-broke offered.
DEEP MARK-TO-MARKET: 17 of the 23 units are below market or vacant. Marking legacy leases to the property's own recently-achieved renovated rents grows scheduled income materially — the core of the value-add thesis.
TURN-KEY 2024 GUT RENOVATION: The entire building was gut renovated with a new Certificate of Occupancy issued in 2024 — over $1.2 million in capital improvements including all-new plumbing, electrical, HVAC, drywall, flooring and cabinetry, with five additional units created during the renovation. A new owner inherits a de-risked, minimal-capex asset.
HIGH-EFFICIENCY STUDIO MODEL: 20 of 23 units are studios — the most liquid and resilient segment of the Los Angeles rental market, with the lowest turnover cost per unit.
USC-ADJACENT LOCATION: Set in University Park near the USC campus and the Metro Expo Line, with durable workforce and student rental demand and direct access to Downtown Los Angeles.
Offered individually or as part of a 7-asset Central-LA portfolio. Full OM, proforma, T-12 and rent roll available. Full co-broke offered.
Property Facts
| Price | $4,136,820 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $179,862 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 8.54% | Building Size | 7,312 SF |
| Gross Rent Multiplier | 7.3 | Average Occupancy | 95% |
| No. Units | 23 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1925/2023 |
| Property Subtype | Apartment | ||
| Zoning | LARD1.5 - restricted Density Multiple Dwelling | ||
| Price | $4,136,820 CAD |
| Price Per Unit | $179,862 CAD |
| Sale Type | Investment |
| Cap Rate | 8.54% |
| Gross Rent Multiplier | 7.3 |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 7,312 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built/Renovated | 1925/2023 |
| Zoning | LARD1.5 - restricted Density Multiple Dwelling |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Wi-Fi
- Freezer
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Controlled Access
- Picnic Area
- Basketball Court
- Grill
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | $2,344 CAD | 154 - 322 |
| 1+1 | 3 | $2,930 CAD | 248 - 356 |
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 5128-009-006 | Improvements Assessment | $2,016,122 CAD |
| Land Assessment | $752,285 CAD | Total Assessment | $2,768,407 CAD |
Property Taxes
Parcel Number
5128-009-006
Land Assessment
$752,285 CAD
Improvements Assessment
$2,016,122 CAD
Total Assessment
$2,768,407 CAD
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27th Street Apts – University Park | 440 E 27th St
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