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4023-4027 W 28th St 19 Unit Apartment Building £3,043,717 (£160,196/Unit) 7.38% Net Initial Yield Los Angeles, CA 90018
INVESTMENT HIGHLIGHTS
- Located in a prime West Adams location just east of Crenshw Blvd surrounded by trendy restaurants, shopping and nightlife
- No on-site manager required
- Well maintained asset with little deferred maintenance. Most units have been updated
- Property consists of two adjacent buildings totaling 19 units
- Great cash flow opportunity offered at a 7.38% cap rate and 9.29 GRM allowing a new buyer excellent leverage
EXECUTIVE SUMMARY
Price Reduced! We are pleased to present 4023–4027 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 7.38% 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.
This investment is being offered at an attractive 7.38% 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.
PROPERTY FACTS
| Price | £3,043,717 | Costar Property Class | C |
| Price Per Unit | £160,196 | Total Plot Size | 0.38 ac |
| Sale Type | Investment | Property Size | 14,650 sq ft |
| Yield | 7.38% | Average Occupancy | 84% |
| Gross Rent Multiplier | 9.29 | No. Floors | 2 |
| No. Units | 19 | Year Built | 1963 |
| Property Type | Build-to-Rent | Parking Allocation | 1.3/1,000 sq ft |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Use Class | LAR3 - restricted Density Multiple Dwelling | ||
| Price | £3,043,717 |
| Price Per Unit | £160,196 |
| Sale Type | Investment |
| Yield | 7.38% |
| Gross Rent Multiplier | 9.29 |
| No. Units | 19 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.38 ac |
| Property Size | 14,650 sq ft |
| Average Occupancy | 84% |
| No. Floors | 2 |
| Year Built | 1963 |
| Parking Allocation | 1.3/1,000 sq ft |
| Opportunity Zone |
Yes |
| Use Class | LAR3 - restricted Density Multiple Dwelling |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 2+1 | 4 | £1,782 | 700 |
| 1+1 | 14 | £1,485 | 500 |
| 2+2 | 1 | £1,930 | 816 |
Walk Score®
Easily Walkable (75)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £856,839 | |
| Land Assessment | £1,998,420 | Total Assessment | £2,855,259 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£1,998,420
Improvements Assessment
£856,839
Total Assessment
£2,855,259
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4023-4027 W 28th St
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