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Listed by Robert Stepp, DRE #01456379 • Keller Williams Realty Downey
$ 1,825,000
Est. payment /mo
Price Dropped by $24K
1023 E 28th Los Angeles, CA 90011
7,501 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26132375
Year Built 1962
Lot Size 7,501 Sqft
Source California Regional MLS
Property Description
1023 E. 28th Street is a seven-unit asset consisting of three buildings with (1) 3BD/1BA, (4) 2BD/1BA, and (2) 1BD/1BA units. This asset presents a strong opportunity to acquire a high-yield, partially repositioned property with substantial remaining rental upside in one of the most rapidly evolving pockets of South Los Angeles. The property combines newly constructed, non-rent- controlled units with an existing value-add component, creating a compelling blend of stable in-place cash flow, operational efficiency, and future NOI growth potential. The front portion of the property includes two newly constructed buildings completed in 2026 and exempt from California rent control, offering investors long-term operational flexibility and unrestricted future rent growth potential. These buildings include a stand-alone 3BD/1BA unit with private front yard space and two 2BD/1BA units. The newly constructed buildings were intentionally designed for long-term operational efficiency and reduced maintenance costs, featuring solar panels servicing both buildings, separately metered utilities, individual water heaters, all-electric systems, and MiniSplit HVAC systems in every unit. The rear four-unit building, originally constructed in 1962, consists of (2) 2BD/1BA units and (2) 1BD/1BA units
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Interior
Laundry Other
Exterior
Garage Spaces 4.0
Pool None
Building
Water District - Public
Others
Tax ID 5128023030
Special Listing Condition Not Applicable
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