440 E 27th St Los Angeles, CA 90011
Historic South Central NeighborhoodEstimated payment $18,234/month
Highlights
- Dual Staircase
- Property is near public transit
- Quartz Countertops
- Mountain View
- Spanish Architecture
- Laundry Room
About This Home
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.
Listing Agent
Altman Apartments LLC Brokerage Phone: 310-903-0222 License #01965826 Listed on: 02/23/2026
Property Details
Home Type
- Apartment
Year Built
- Built in 1925 | Remodeled
Lot Details
- 6,253 Sq Ft Lot
- No Common Walls
- Wrought Iron Fence
- Rectangular Lot
- Level Lot
- Density is over 40 Units/Acre
Property Views
- Mountain
- Neighborhood
Home Design
- Spanish Architecture
- Entry on the 1st floor
- Turnkey
- Flat Roof Shape
- Fire Rated Drywall
- Frame Construction
- Stucco
Interior Spaces
- 7,312 Sq Ft Home
- 2-Story Property
- Dual Staircase
- Ceiling Fan
- Laminate Flooring
- Laundry Room
Kitchen
- Gas Oven
- Gas Range
- Quartz Countertops
Bedrooms and Bathrooms
- 1 Bedroom
- 2 Bathrooms
Home Security
- Closed Circuit Camera
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Location
- Property is near public transit
- Urban Location
Utilities
- Heating System Uses Natural Gas
- Wall Furnace
- Natural Gas Connected
- Cable TV Available
Listing and Financial Details
- Legal Lot and Block 6 / 7
- Assessor Parcel Number 5128009006
- $1,391 per year additional tax assessments
Community Details
Building Details
- Rent Control
- 17 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Cable TV Expense $6,900
- Electric Expense $42,248
- Fuel Expense $5,027
- Gardener Expense $720
- Insurance Expense $17,104
- Maintenance Expense $17,250
- Pest Control $1,080
- Professional Management Expense $16,542
- Trash Expense $5,838
- New Taxes Expense $41,580
- Operating Expense $159,254
- Gross Income $434,869
- Net Operating Income $254,307
Additional Features
- 23 Units
- Laundry Facilities
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $24,264 | $1,952,622 | $530,604 | $1,422,018 |
| 2024 | $24,264 | $1,914,336 | $520,200 | $1,394,136 |
| 2023 | $23,808 | $1,876,800 | $510,000 | $1,366,800 |
| 2022 | $22,731 | $1,840,000 | $500,000 | $1,340,000 |
| 2021 | $20,050 | $1,601,420 | $1,010,360 | $591,060 |
| 2020 | $2,037 | $69,400 | $16,561 | $52,839 |
| 2019 | $2,004 | $68,070 | $16,237 | $51,833 |
| 2018 | $1,910 | $66,766 | $15,919 | $50,847 |
| 2016 | $1,719 | $62,703 | $15,301 | $47,402 |
| 2015 | $1,708 | $61,762 | $15,072 | $46,690 |
| 2014 | $1,797 | $60,553 | $14,777 | $45,776 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/23/2026 02/23/26 | For Sale | $3,150,000 | 0.0% | $431 / Sq Ft | |
| 01/04/2026 01/04/26 | Off Market | $1,350 | -- | -- | |
| 10/20/2025 10/20/25 | Price Changed | $1,350 | -32.3% | $4 / Sq Ft | |
| 08/13/2025 08/13/25 | For Rent | $1,995 | 0.0% | -- | |
| 09/13/2021 09/13/21 | Sold | $1,840,000 | -7.1% | $252 / Sq Ft | View Prior Sale |
| 06/28/2021 06/28/21 | Pending | -- | -- | -- | |
| 06/09/2021 06/09/21 | For Sale | $1,980,000 | -- | $271 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SR26039501
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Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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