440 E 27th, Los Angeles, CA

Name: 440 E 27th, For Sale in Los Angeles - eXp Realty
Brand: Altman Apartments LLC
SKU: SR26039501
Price: 3150000 USD

Condo

For Sale

Listed price in listed location currency (USD).

$3,150,000

000

MLS® SR26039501

Key Facts
Description
Map

Key Facts

Type Apartment

Levels Residential Income

Size -

Garage No

HOA Fees $17,250

Taxes

Days Active 0

Approx. Age 1925

MLS® Number SR26039501

Property Address: 440 E 27th, Los Angeles, CA, 90011

Average square foot calculated using Size range provided by listing agent.

Description

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.

MLS® NumberSR26039501

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry LevelCommon Area

Exposure

Exterior

GarageNo

Approx. Age1925

Stories2

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Feb 23, 2026List Date

$3,150,000List Price

Commute

Commute

Starting Address

Destination Address

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