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Diego Magdaleno

diego@1visionproperties.com +1(714) 676-7271

$4,600,000

Est. payment - /mo

24 Beds

20 Baths

14,650 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 14,650 sqft

Price per Sqft $313

MLS Listing ID 25535041

Bedrooms 24

HOA Y/N No

Year Built 1959

Lot Size 0.378 Acres

Lot Dimensions Assessor

Property Description

We are pleased to present 40234027 W. 28th Street, a 19-unit multifamily opportunity located in the heart of West Adams. The offering comprises two adjacent apartment buildings situated on separate parcels, totaling 19 units across approximately 14,650 square feet. The unit mix includes four (2-bedroom, 1-bath), fourteen (1-bedroom, 1-bath), and one (2-bedroom, 2-bath + den) units. Combined, the parcels span approximately 16,480 square feet and are zoned LAR3.This investment is being offered at an attractive 6.20% cap rate. The properties currently generate nearly $430,000 in gross annual income, with an additional $70,000 in potential rental upside. The strong existing cash flow supports the opportunity to leverage high loan-to-value financing while preserving consistent income. West Adams continues to experience significant growth and revitalization. Ongoing development and planned improvements along West Adams Boulevard enhance the long-term value and stability of this asset, making it a compelling investment in a rapidly evolving submarket.

Location

State CA

County Los Angeles

Area C16 - Mid Los Angeles

Zoning LAR3

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Appliance Refrigerator

Exterior

Parking Features Assigned

Pool None

View Y/N Yes

View City Lights

Total Parking Spaces 19

Private Pool No

Building

Faces South

Story 2

Entry Level Multi/Split

Sewer Other

Architectural Style Mid-Century Modern

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5051004007

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Special Listing Condition Standard

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Listed by William James • Lyon Stahl Investment Real Estate, Inc.

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4023 -4027 W 28th ST Los Angeles, CA 90018