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Multifamily

205 E 28th St

205 E 28th St, Los Angeles, CA 90011

Listing Price: $2,420,000

Cap Rate
5.17%
Number of Units
12
Price/Unit
$201,667
Price/Gross SF
$391.59
Gross SF
6,180

Investment Overview

Marcus & Millichap is pleased to present to market 205 East 28th Street, a 12-unit apartment building in Historic South Central Los Angeles. 10 of the 12 units are vacant, making this a major value-add opportunity in a dense rental area that is seeing significant development. The subject property is a two-story 1923 construction with 12 studio units that have laundry hookups and are separately metered for gas and electricity. The building features secure access and a large underutilized backyard. This area just south of Downtown L.A. has been seeing an influx of development as investors push south from Downtown and north from USC. Just blocks from the subject property, a new $125 Million, 296-unit mixed-use development project is underway at Adams and Grand, the expanding Los Angeles Trade Technical College is constructing a new $108 Million construction technology building, and a new 105-unit mixed-use affordable housing project is under construction on Washington Boulevard. Several more projects have been approved and/or proposed nearby.

Investment Highlights

  • Major Value-Add Opportunity: 10 of 12 Units Are Vacant
  • All Studio Units With In-Unit Laundry Hookups
  • Property Features a Large Underutilized Backyard
  • Excellent Value-Add Location in a Dense Rental Area Proximate to Numerous Major Development Projects, the 110 and 10 Freeways, the Metro Expo and A Lines, Los Angeles Trade Technical College, Downtown LA, and a Mile From USC

Exclusively Listed By

Multifamily

205 E 28th St

Listing Price: $2,420,000

Cap Rate
5.17%
Number of Units
12
Price/Unit
$201,667
Price/Gross SF
$391.59
Gross SF
6,180

Investment Highlights

  • Major Value-Add Opportunity: 10 of 12 Units Are Vacant
  • All Studio Units With In-Unit Laundry Hookups
  • Property Features a Large Underutilized Backyard
  • Excellent Value-Add Location in a Dense Rental Area Proximate to Numerous Major Development Projects, the 110 and 10 Freeways, the Metro Expo and A Lines, Los Angeles Trade Technical College, Downtown LA, and a Mile From USC

Investment Overview

Marcus & Millichap is pleased to present to market 205 East 28th Street, a 12-unit apartment building in Historic South Central Los Angeles. 10 of the 12 units are vacant, making this a major value-add opportunity in a dense rental area that is seeing significant development. The subject property is a two-story 1923 construction with 12 studio units that have laundry hookups and are separately metered for gas and electricity. The building features secure access and a large underutilized backyard. This area just south of Downtown L.A. has been seeing an influx of development as investors push south from Downtown and north from USC. Just blocks from the subject property, a new $125 Million, 296-unit mixed-use development project is underway at Adams and Grand, the expanding Los Angeles Trade Technical College is constructing a new $108 Million construction technology building, and a new 105-unit mixed-use affordable housing project is under construction on Washington Boulevard. Several more projects have been approved and/or proposed nearby.

Exclusively Listed By

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