1029 E 28th Street, Los Angeles, CA 90011

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.