- – beds
- – baths
- – sqft
- ~1/2 acre lot
- 1959 build
- – on site
We are pleased to present 40234027 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 6.20% cap rate. The properties currently generate nearly $430,000 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.
Last checked:
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Last updated Jun 2, 2025
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MLS# 25535041 —
The Building
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Year Built:1959
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New Construction:No
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Construction Materials:Stucco
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Building Area Total:14650.00
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Total Number Of Units:19
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# of Buildings:2
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Architectural Style:Mid Century Modern
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Stories Total:2
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Faces:South
Interior
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Levels:Multi/Split
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Fireplace:No
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Fireplace:None
Location
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Directions:Head South on Edgehill off W. Adams Blvd. Turn West on W. 28th St, the property is on the North side of the street.
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Latitude:34.03178000
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Longitude:-118.32995500
The Property
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Property Type:Residential Income
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Zoning:LAR3
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Lot Size Area:16480.0000
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Lot Size Dimensions:100x165
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Lot Size Acres:0.3783
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Lot Size SqFt:16480.00
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Lot Size Source:Assessor
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Lot Dimensions Source:Assessor
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View:1
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View:City Lights
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Security Features:Smoke Detector(s), Carbon Monoxide Detector(s)
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Additional Parcels:Yes
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5051004007
Heating & Cooling
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Heating:1
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Heating:Wall Furnace
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Cooling:Yes
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Cooling:Wall/Window Unit(s)
Utilities
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Sewer:Other
Appliances
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Appliances:Refrigerator
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Included:Yes
The Community
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
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Spa Features:None
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Assessments:No
Parking
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Parking:Yes
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Parking:Assigned
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Parking Spaces:19.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
6/2/25
Jun 2, 2025
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Listed / Active | CRMLS_CA | $4,600,000 |