1029 E 28th Street, Los Angeles, CA 90011
- $885,000
- 17
- BD
- 7
- BA
- 5,044
- SqFt
- Sold Price
- $885,000
- List Price
- $850,000
- Closing Date
- Aug 13, 2026
- Status
- CLOSED
- MLS#
- 26853639
- Year Built
- 1955
- Bedrooms
- 17
- Bathrooms
- 7
- Living Sq. Ft
- 5,044
- Lot Size
- 7,500
- Acres
- 0.17
- Days on Market
- 17
- Property Type
- Multifamily
- Stories
- Two Levels
Property Description
Value-Add 5-Unit Multifamily Investment Near Downtown Los Angeles. Excellent opportunity to acquire a value-add 5-unit apartment building located just minutes from Downtown Los Angeles. This income-producing asset features a desirable unit mix consisting of four (4) spacious 3-bedroom, 1-bath units and one (1) oversized 5-bedroom, 2-bath unit, offering strong appeal to tenants seeking larger living spaces. The property is currently generating actual rental income with a Gross Operating Income (GOI) of $108,513, a GRM of 7.8, and a 6.9% CAP rate based on current operations. Annual operating expenses total $49,831. While the property requires repairs and improvements, it presents an outstanding value-add opportunity for investors looking to enhance the asset through renovations, operational efficiencies, and long-term appreciation. The large unit configuration and proximity to Downtown Los Angeles provide a solid foundation for future upside. Submit offers subject to inspection. Do not disturb occupants.
Additional Information
- Heat
- Wall Furnace
- Cooling Description
- None
- Interior Features
- Ceiling Fan(s)
- Attached Structure
- Detached
- Number Of Units Total
- 5
Listing courtesy of Listing Agent: Melissa Urena (melissaurealtor@gmail.com) from Listing Office: Real Broker.
Listing sold by Miriam Carter from Coldwell Banker Envision
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.