Seven-Unit Multifamily
For Sale
Contact for pricing
1023 E 28TH ST, Los Angeles, CA 90011
Three-building portfolio with a mix of 1-, 2-, and 3-bedroom units, featuring newly built, non-rent-controlled homes and a value-add component.
Property Size5,196 SF
Price / SF$355.85
Days on Market57
Property Features for 1023 E 28TH ST
General Information
Standard status
Active
Size
5,196 SF
Property subtype
Multifamily
Building Details
Year Built
2026
Listing Agency:
Stepp Commercial
(310) 463-2916
Listed By:
Robert Stepp · License #CA 01456379
Source:
Crexi
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 5 at 7:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stepp Commercial
Investment Insights
Based on property information with market context.
This seven-unit multifamily asset is arranged across three buildings and offers a unit mix of one 3BD/1BA, four 2BD/1BA, and two 1BD/1BA units. The front portion includes two newly constructed buildings completed in 2026, consisting of a stand-alone 3BD/1BA unit with a private front yard area and two 2BD/1BA units. These newer buildings are designed with long-term operational efficiency, including solar panels servicing both buildings, separately metered utilities, individual water heaters, all-electric systems, and mini-split HVAC in every unit.
The rear building was originally constructed in 1962 and contains the primary value-add component with two 2BD/1BA units and two 1BD/1BA units. Ownership has already renovated one of the 1BD/1BA units with updated finishes, mini-split HVAC, and in-unit washer/dryer, reaching near-market rents. Recent capital improvements to the 1962 building include a new roof and upgraded main and sub electrical panels.
Additional income opportunities include implementing parking income for four existing parking spaces that are currently included in rent, as well as converting an existing storage room into an onsite laundry facility. On the financial side, the offering states a 7.33% current cap rate on existing income, with a projected 9.57% market cap rate upon completing the proven renovation program and adding income streams.
The rear building was originally constructed in 1962 and contains the primary value-add component with two 2BD/1BA units and two 1BD/1BA units. Ownership has already renovated one of the 1BD/1BA units with updated finishes, mini-split HVAC, and in-unit washer/dryer, reaching near-market rents. Recent capital improvements to the 1962 building include a new roof and upgraded main and sub electrical panels.
Additional income opportunities include implementing parking income for four existing parking spaces that are currently included in rent, as well as converting an existing storage room into an onsite laundry facility. On the financial side, the offering states a 7.33% current cap rate on existing income, with a projected 9.57% market cap rate upon completing the proven renovation program and adding income streams.
Key Highlights
- Seven‑unit, three‑building portfolio at 1023 E. 28th St built in 2026, plus a 1962 rear building.
- Unit mix: 1 three‑bedroom/1‑bath, four two‑bedroom/1‑bath, and two one‑bedroom/1‑bath units.
- Two 2026 newly constructed buildings are exempt from California rent control, supporting future rent flexibility.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,768
Businesses Nearby
Explore this area
Business Placement
Demographics for 90011, CA
102,308
Population
25,119
Households
4.1
Avg Household Size
30
Median Age
6%
College-Educated
43%
High-School Grad
4.3 sq mi
ZIP Area
23,793
Density / Sq Mi
$53,781
Median Household Income
$27,889
Median Earnings
$1,497
Median Rent
$575,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Three-building portfolio with a mix of 1-, 2-, and 3-bedroom units, featuring newly built, non-rent-controlled homes and a value-add component.
Where is this apartment building located?
The property is located at 1023 E 28TH ST Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,849,000.
What are key features of this property?
This property features: Seven‑unit, three‑building portfolio at 1023 E. 28th St built in 2026, plus a 1962 rear building.; Unit mix: 1 three‑bedroom/1‑bath, four two‑bedroom/1‑bath, and two one‑bedroom/1‑bath units.; Two 2026 newly constructed buildings are exempt from California rent control, supporting future rent flexibility.
