27th Street Apartments 440 E 27th St 23 Unité Immeuble d’appartements 4 432 050 $ CAD (192 698 $ CAD/Unité) 6,25% Taux de capitalisation Los Angeles, CA 90011

27th Street Apartments in Los Angeles' Historic South Central area offer investors a prime rental opportunity in a bustling location. The 23-unit building, located at 440 E 27th Street, underwent a comprehensive $1.2 million renovation in 2024, resulting in a new Certificate of Occupancy. With updated plumbing, electrical systems, and modern interiors, this turnkey property minimizes immediate maintenance needs for investors. The property's micro-unit model has shown a strong rental yield, making it an attractive investment. Currently boasting a 95% occupancy rate, the 27th Street Apartments generate a solid NOI and offer a promising CAP rate of 8.07%. The prime location also benefits from a continuously growing population and median household income in the surrounding area, ensuring long-term investment potential. Don't miss out on this opportunity to own a high-quality asset with significant value appreciation potential in the heart of Los Angeles.
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.
Substantial Built-In Revenue Upside: Priced at $3,150,000 ($136,957/unit), the offering pairs positive in-place leverage today (1.24 DCR, on buyer-reassessed taxes) with a clear, self-help path to a 7.7% stabilized cap and a 9% cash-on-cash return as legacy leases roll 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.