217 E 28TH Street, Los Angeles, CA 90011

About this property

One of the lowest costs of entry into LA Multi-Family, 217 E 28th Street is a 5-unit priced at $1,170,000 in the heart of South Los Angeles. This income producing property features a unit mix of 3-bedroom, 2-bedroom, and 1-bedroom units. Located in Historic South Central and just East of USC Campus, the subject property is just minutes from where I-10 and I-110 intersect. Soft-Story Retrofit work has already been completed per LADBS regulations and the Certificate of Compliance has been issued. The new owner will enjoy a value-add asset located in an OPPORTUNITY ZONE with approximately 53% rental upside. There is also the potential to build (1) ADU in the rear parking lot (Buyer to Verify). The astute investor will be able to aggressively capture the remaining upside, as 217 E 28th St remains an attractive space to a wide variety of qualified tenants in the ever developing, up and coming city of South LA, one of the largest submarkets in The Greater Los Angeles Area. PLEASE NOTE: 3 bedroom unit is currently vacant and in rent ready condition.

Listing description from the June 2022 sale, as reported to CRMLS.

Sale history

$1,075,000

Sold June 2022 · listed $1,170,000, orig. $1,250,000, on market February 2022 · MLS #22130045 · Source: CRMLS

Listing Agent: Chase Simonton · Listing Office: RE/MAX One · Contact: 818-366-3300 · Bought with: Michelle Pine · KW Advisors

$855,000

Sold March 2019 · listed $885,000, on market December 2018 · MLS #18415236 · Source: CRMLS

Listing Agent: Ian Hollinger · Listing Office: BRC Advisors- BH · Bought with: Subscriber Non · Non-Participant Office

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