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Request Info$3,150,000
Active
440 E 27th Overview
- Time on Site:
- 127 days
- Visits:
- 0
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.
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440 E 27th Facts & Features
- Type Multi-Family
- Sq. ft. 7,312
- Price/Sq.ft. $431
- Lot 0.14 Acres
Details
General
Association/HOA
- Common Interest: Community Apartment
Income/Expenses
- Cable TV Expense: 6900.0
- Electric Expense: 42248.0
- Fuel Expense: 5027.0
- Gardener Expense: 720.0
- Gross Income: 434869.0
- Gross Scheduled Income: 434869.0
- Insurance Expense: 17104.0
- Maintenance Expense: 17250.0
- Net Operating Income: 254307.0
- New Taxes Expense: 41580.0
- Operating Expense: 159254.0
- Trash Expense: 5838.0
Building Information
- New Construction: No
- Year Built: 1925
Location/Region
- Country: US
- County Or Parish: Los Angeles
- MLS Area Major: C42 - Downtown L.A.
- Postal City: LOS ANGELES
Community/Development
- Community Features: Sidewalks,Urban
Rent/Lease Information
- Land Lease: No
- Tenant Pays: Cable TV,Electricity
General Information
- Disclosures: Familial Relation,Principal is Real Estate Licensed,Rent Control
- Listing Terms: Cash,Cash to New Loan,Conventional,Submit
- Parcel Number: 5128009006
- Property Condition: Updated/Remodeled,Turnkey
- Property Sub Type: Apartment
- Property Type: Residential Income
- Rent Control: Yes
- Senior Community: No
- Special Listing Conditions: Standard
- Zoning: RD1.5-1
Interior
Parking Information
- Garage: No
Building Interior
- Building Area Total: 7312.0
- Building Area Units: Square Feet
General Information
- Appliances: Gas Oven,Gas Range,Refrigerator
- Common Walls: No Common Walls
- Entry Level: 1
- Entry Location: 27th Street
- Fireplace Features: None
- Fireplace: No
- Flooring: Laminate
- Interior Features: Ceiling Fan(s),Multiple Staircases,Quartz Counters
- Laundry Features: Common Area
- Levels: Two
- Security Features: Closed Circuit Camera(s),Carbon Monoxide Detector(s),Fire Rated Drywall,Smoke Detector(s)
- Spa Features: None
- Spa: No
- Stories: 2
- Stories Total: 2
Exterior
Parking Information
- Parking Features: None
Lot Information
- Additional Parcels: No
- Lot Features: Level,Over 40 Units/Acre,Near Public Transit,Rectangular Lot
- Lot Size Acres: 0.1435
- Lot Size Area: 6253.0
- Lot Size Source: Assessor
- Lot Size Square Feet: 6253.0
- Lot Size Units: Square Feet
- Number Of Buildings: 1
- Number Of Separate Electric Meters: 17
- Number Of Separate Gas Meters: 1
- Number Of Separate Water Meters: 1
- Road Surface Type: Paved
- Elevation Units: Feet
- Water Source: Public
Waterfront/View
Building Exterior/Construction
- Architectural Style: Spanish
- Construction Materials: Drywall,Frame,Stucco
- Property Attached: No
- Roof: Flat
General Information
- Fencing: Wrought Iron
- Number Of Units Total: 23
- Pool Features: None
- Pool Private: No
- Road Frontage Type: City Street
- Sewer: Public Sewer
- Utilities: Cable Connected,Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected
440 E 27th Neighborhood
Community
90011 (Los Angeles) Demographics
30
Median Age
25,839
Population Density (per sq. mile)
11%
College Educated
$44,616
Estimated Median Income
6,904
Estimated Total Home Owners
17,923
Estimated Total Renters
28% / 72%
Estimated Owner / Renter Divide
4
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.440 E 27th Monthly Cost
440 E 27th Market Data
Based on the last 30 days in this zip code
$806,529
Average List Price
$435
Average Price per Square Foot
7
Properties Sold
126
Average Days on Market
81
Properties for Sale
440 E 27th History
| Date | Value | Agent |
|---|---|---|
| 2/23/2026Source: CRMLS | February 23, 2026 |
Listing provided courtesy of Altman Apartments LLCLogan Altman- MLS# SR26039501
Contact Information: [email protected] - 310-903-0222
Contact Information: [email protected] - 310-903-0222