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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.
Property Type(s):
Residential Income
| Last Updated | 2/23/2026 | Year Built | 1925 |
|---|---|---|---|
| Community | C42 - Downtown L.A. | County | Los Angeles |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Gas Oven, Gas Range, Refrigerator |
| AREA | C42 - Downtown L.A. |
| CONSTRUCTION | Frame, Stucco |
| HEAT | Natural Gas, Wall Furnace |
| INTERIOR | Ceiling Fan(s) |
| LOT | 6251 sq ft |
| LOT DESCRIPTION | Level, Near Public Transit, Rectangular Lot |
| LOT DIMENSIONS | 6253 |
| PARKING | None |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Spanish |
| UTILITIES | Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | Mountain(s), Neighborhood |
| WATER | Public |
Location
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Listed with Altman Apartments LLC
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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