$4,100,000
$500K PRICE DROP

Estimated payment $26,548/month

Total Views 1,045
24 Beds
20 Baths
14,650 Sq Ft
$280 Price per Sq Ft

Highlights

  • City View
  • Midcentury Modern Architecture
  • South Facing Home
  • 0.38 Acre Lot
  • Laundry Room

About This Home

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 7.4% cap rate and 9.29 GRM. The properties currently generate nearly $441,000 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.

Listing Agent

Will James

Lyon Stahl Investment Real Estate, Inc. License #01734419 Listed on: 05/06/2025

Lyon Stahl Investment Real Estate, Inc.

Co-Listing Agent

Peter James

Lyon Stahl Investment Real Estate, Inc. License #01748556

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1959

Lot Details

  • 0.38 Acre Lot
  • Lot Dimensions are 100x165
  • South Facing Home

Home Design

  • Midcentury Modern Architecture
  • Split Level Home
  • Stucco

Interior Spaces

  • 14,650 Sq Ft Home
  • 2-Story Property
  • City Views
  • Oven or Range

Bedrooms and Bathrooms

  • 24 Bedrooms
  • 20 Bathrooms

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Home Security

  • Security Lights
  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 19 Parking Spaces
  • Assigned Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Mounted To A Wall or Window
  • Gas Water Heater
  • Sewer in Street

Listing and Financial Details

  • The owner pays for water
  • Assessor Parcel Number 5051-004-007

Community Details

Overview

  • 2 Buildings
  • 19 Units

Building Details

  • Rent Control
  • Vacancy Allowance $13,284

Property Details

Home Type

Multi-Family

Year Built

Built in 1959

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Style: Mid-Century
  • Levels: Multi/Split
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: Yes
  • Alley: Yes
  • Living Area: 14650
  • Lot Acreage: 0.3796
  • Lot Dimensions: 100x165
  • Price Per Unit: 215789.00
  • Probate: No
  • Stories: 2
  • Year Built: 1959
  • Number Of Photos: 12
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 24
  • Common Walls: Attached
  • Laundry: Laundry Area
  • Laundry Equipment: Lease
  • Total Bathrooms: 20.00
  • Equipment: Refrigerator, Range/Oven
  • Price Per S Q F T: 279.86

Exterior Features

  • Direction Faces: South
  • Construction: Stucco
  • Other Structures: None
  • Tennis Court Y/N: No
  • Construction: Frame and Stucco
  • Paved: Yes
  • Pool: No
  • Spa Yn: No
  • View: City
  • View: Yes

Garage/Parking

  • Parking Garage: Assigned
  • Total Parking: 19

Utilities

  • Water Heater: Gas
  • Cooling: Wall/Window
  • Heating: Wall
  • Security: Exterior Security Lights, Smoke Detector, Carbon Monoxide Detector(s)
  • Sewer: In Street
  • Water: Public
  • Water Heaters: Yes

Lot Info

  • Assessed Improvement Percent: 30.01
  • Assessed Improvement Value: 565782
  • Assessed Land Percent: 69.99
  • Assessed Land Value: 1319582
  • Total Assessed Value: 1885364
  • Assessor Parcel Number: 5051-004-007
  • Lot Description: 2-4 Lots
  • Lot Size Area: 16480

Rental Info

  • Total Actual Rent: 441411.00
  • Land Lease Type: Fee
  • Owner Pays: Water
  • Rent Control: Yes
  • Tenant Pays: Gas, Electricity

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 9.29
  • Number Of Units: 19
  • Rent Control: 100
  • Total Annual Expense: 126853
  • Type Of Units: 19
  • Vacancy Allow: 13284
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: 3.0

Map

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/07/2025 07/07/25 Price Changed $4,100,000 -4.7% $280 / Sq Ft
06/20/2025 06/20/25 Price Changed $4,300,000 -6.5% $294 / Sq Ft
05/06/2025 05/06/25 For Sale $4,600,000 -- $314 / Sq Ft
Source: The MLS

Similar Homes in Los Angeles, CA

  • 1973 W 22nd St, Los Angeles, CA 90018

    $3,000,000

    • 23 Beds
    • 18 Baths
    • 12,816 Sq Ft
    • 1973 W 22nd St
    • Los Angeles, CA

    We are pleased to present 1973-2015 W. 22nd Street, an 18-unit multifamily opportunity located in the heart of West Adams. The offering comprises two adjacent apartment buildings on one large parcel totaling 24,239 sf. The unit mix includes five (2-bedroom, 1-bath) and thirteen (1-bedroom, 1-bath) units. The unique lot offers parking for 28 individual vehicles allowing a new investor the

    Will James Lyon Stahl Investment Real Estate, Inc.

    Section Image
  • 3653 Halldale Ave, Los Angeles, CA 90018

    $4,799,998

    • 25 Beds
    • 25 Baths
    • 9,700 Sq Ft
    • 3653 Halldale Ave
    • Los Angeles, CA

    Excellent Master Lease opportunity for Investors! This is a brand new Co-Living building constructed in 2024, with 28 bedrooms all with Private En-suite Bathrooms spread across 3 large modern units. Each bedroom can be rented for $1,350 a month. The front unit is 3 stories with 15 bedrooms & 15 ensuite bathrooms, washer/dryer on each floor, and the common kitchen is located on the second floor.

    Christian Ramos Century 21 Realty Masters

    Section Image
  • 1321 W Martin Luther King jr Blvd, Los Angeles, CA 90037

    $3,499,000

    • 22 Beds
    • 20 Baths
    • 11,472 Sq Ft
    • 1321 W Martin Luther King jr Blvd
    • Los Angeles, CA

    Good quality tenants in the units. Great upside as many have been there a long time. Look for a great surge from the Olympics! Easy access to the 110 and 10 Freeways. 3 blocks to USC, football stadium and new soccer stadium.

    Timothy Agee West Shores Realty, Inc.

    Section Image
  • 955 S Normandie Ave, Los Angeles, CA 90006

    $5,000,000

    • 26 Beds
    • 22 Baths
    • 14,652 Sq Ft
    • 955 S Normandie Ave
    • Los Angeles, CA

    1986 built no rent control units. Highly desirable 14 unit apartment,8units large 2bed/2bath, 2 units 1bed/1bath and 4units 1bed/1bath/with den.originally built as condo .new elevator half of air condition been replaced.Laundry income app. $350 monthly.large balcony. no vacancy $323,520 rental plus Lundry income $5400 Total $328,920 income

    Moon Sook Wheaton New Star Realty

    Section Image
  • 423 N Harvard Blvd, Los Angeles, CA 90004

    $4,050,000

    • 22 Beds
    • 19 Baths
    • 11,797 Sq Ft
    • 423 N Harvard Blvd
    • Los Angeles, CA

    Rare opportunity to acquire 423 N Harvard Blvd, a 16-unit value-add property ideally located in one of Los Angeles' most vibrant and rapidly evolving neighborhoods. Situated at the intersection of Beverly Boulevard and Western Avenue, this asset is positioned within close proximity to Koreatown, Hancock Park, Larchmont Village, Hollywood, and Silver Lake areas known for their high demand and

    Janet Neman Kidder Mathews of California, Inc.

    Section Image
  • 372 Columbia Ave, Los Angeles, CA 90017

    $3,050,000

    • 23 Beds
    • 19 Baths
    • 14,526 Sq Ft
    • 372 Columbia Ave
    • Los Angeles, CA

    372 Columbia Avenue is an 18-unit courtyard apartment community in the Westlake District of Los Angeles (90017), immediately adjacent to Downtown LA and Echo Park. It is being offered for sale for the first time in over 40 years, providing investors with an opportunity to acquire a value-add opportunity in one of LA's stable and dynamic neighborhoods. Built in 1940, 372 Columbia Avenue, a

    Nick Astrupgaard KW Commercial Studio City

    Section Image
  • 1000 N Serrano Ave, Los Angeles, CA 90029

    $3,900,000

    • 24 Beds
    • 24 Baths
    • 13,716 Sq Ft
    • 1000 N Serrano Ave
    • Los Angeles, CA

    1000 N. Serrano is a 13,716 SF 3-story complex featuring (24) 1-bdrm. units. The property is offered at 6.75% CAP and 8.63 GRM on current rents, $162,500 per unit, and $284 per foot. There is approx. 52% rental upside compared to renovated units in the area. This value-add opportunity will stabilize at a 12.53% CAP and 5.68 GRM at projected market rents. 1000 N. Serrano is located minutes from

    Max Berger Compass

    Section Image
  • 903 N Edgemont St, Los Angeles, CA 90029

    $3,295,000

    • 22 Beds
    • 8 Baths
    • 5,730 Sq Ft
    • 903 N Edgemont St
    • Los Angeles, CA

    MONEY MAKER! AMAZING and Unique Opportunity! This, City Approved, Boarding House is being offered for sale for the FIRST TIME in Decades! With 22 bedrooms, 8 bathrooms, 2 kitchens and several parking spaces, this is a RARE Opportunity. Located IDEALLY near East Hollywood, this 1920's Pre-Depression Home is in High Demand. All utilities are on one meter, which Owner provides. Absolutely Beautiful

    Jonathan Jay Bruce Jay Associates

    Section Image
  • 1734 Taft Ave, Los Angeles, CA 90028

    $3,950,000

    • 24 Beds
    • 22 Baths
    • 14,029 Sq Ft
    • 1734 Taft Ave
    • Los Angeles, CA

    We are pleased to present a twenty (20) unit apartment building located at 1734-1740 Taft Avenue in Los Angeles, California. The subject property is located in a prime Hollywood location, north of Hollywood Boulevard and west of Western Avenue. Built in 1957 and 1958 respectively, this classic mid-century property is located in a prime Hollywood location, adjacent to the highly desirable Los

    Jason Tuvia Marcus & Millichap

    Section Image

Source: The MLS

MLS Number: 25535041

The MLS