90011 Homes with Apartment Subtype

90011 Homes with Apartment Subtype

Nestled in the heart of Los Angeles, California, zip code 90011 offers a vibrant and diverse community for residents to call home. Located within Los Angeles County, this area is known for its rich cultural heritage and a wide range of amenities.

The city of Los Angeles is renowned for its iconic landmarks, bustling entertainment industry, and beautiful beaches. Zip code 90011 is no exception, providing residents with easy access to all that this vibrant city has to offer.

One notable feature of this area is the abundance of homes with apartment subtypes. Whether you are looking for a cozy studio or a spacious multi-bedroom unit, you'll find a variety of options to suit your needs. These homes offer the convenience of apartment living while still providing a sense of privacy and independence.

Living in zip code 90011 means enjoying a plethora of amenities and attractions nearby. From trendy restaurants and shopping centers to parks and recreational facilities, there is always something to do and explore. The area is also well-connected, with easy access to major highways and public transportation, making it convenient for commuting or exploring the rest of the city.

If you're seeking a vibrant and diverse community with an array of homes with apartment subtypes, zip code 90011 in Los Angeles, California, is the perfect place to call home. Experience the best of city living while enjoying the comfort and convenience of apartment-style living in this lively neighborhood.

Newest 90011 Homes with Apartment Subtype

$3,000,000
SR26039501 MLS Active Status
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 $5.28 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 $3,000,000, the property offers a current CAP rate of 6.62% and a 5.29% Cash-on-Cash return, with substantial mark-to-market upside as legacy leases are brought to the property’s own recently-achieved renovated rents. • Substantial Built-In Revenue Upside: There is significant potential for growth, with the pro forma CAP rate projected at 8.19% and a Cash-on-Cash return of 10.52%. Financial projections show that monthly income can grow from the current $34,290 to a market rate of $38,337, representing an approximately 12% 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.

440 E 27th, Los Angeles

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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.