1023 E 28th, Los Angeles, CA 90011
Local realty services provided by:Better Homes and Gardens Real Estate Property Shoppe
1023 E 28th,Los Angeles, CA 90011
$1,825,000
- - Beds
- - Baths
- 5,196 sq. ft.
- Multi-family
- Active
Listed by: robert stepp, todd hawke
Office: keller williams realty downey562-334-1500
MLS#:PW26132375
Source:CRMLS
Price summary
- Price:$1,825,000
- Price per sq. ft.:$351.23
About this home
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 and offers the primary
value-add opportunity at the property. Ownership has already demonstrated the achievable rental upside by fully renovating one of the 1BD/1BA units with updated finishes, MiniSplit HVAC, and in-unit washer/dryer, allowing the unit to achieve near-market rents. The remaining classic units provide a clear path for a new owner to continue the renovation program and substantially increase income. Additional upside opportunities include implementing parking income for the four existing parking spaces, which are currently included in rent, as well as converting an existing storage room into an onsite laundry facility to create supplemental ancillary income. Recent capital improvements to the 1962 building include a new roof and upgraded main and sub electrical panels, helping reduce near- term capital expenditure requirements. Offered at a 7.29% current cap rate on existing income, the property has the potential to achieve a projected 9.51% market cap rate through the completion of the proven renovation program and implementation of additional income streams....
Contact an agent
Home facts
- Year built:1962
- Listing ID #:PW26132375
- Added:101 day(s) ago
- Updated:September 28, 2026 at 12:21 PM
Rooms and interior
- Living area:5,196 sq. ft.
Structure and exterior
- Year built:1962
- Building area:5,196 sq. ft.
- Lot area:0.17 Acres
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$1,825,000
- Price per sq. ft.:$351.23
Features and amenities
- Laundry features:Inside
Parking
- Total parking spaces:4
New listings near 1023 E 28th
- Coming Soon
$465,000Coming Soon1 beds 1 baths860 sq. ft.738 S Los Angeles Street #707, Los Angeles, CA 90014
MLS# 26993663Listed by: ENGEL & VOLKERS BEVERLY HILLS - Coming SoonOpen Sat, 2 to 4pm
$2,699,900Coming Soon4 beds 4 baths2,123 sq. ft.642 N Cahuenga, Los Angeles, CA 90004
MLS# AR26203502Listed by: RE/MAX PREMIER PROPERTIES - Coming Soon
$535,000Coming Soon2 beds 1 baths892 sq. ft.2700 Cahuenga E, Los Angeles, CA 90068
MLS# SR26210881Listed by: ROKHMAN REALTY - Coming Soon
$840,000Coming Soon3 beds 2 baths1,248 sq. ft.16351 Labrador Street, North Hills, CA 91343
MLS# V1-38953Listed by: CENTURY 21 MASTERS - Coming Soon
$760,000Coming Soon2 beds 2 baths1,455 sq. ft.21500 Califa #141, Woodland Hills, CA 91367
MLS# SR26210616Listed by: KELLER WILLIAMS REALTY WORLD CLASS - Coming SoonOpen Sun, 1:30 to 4pm
$1,349,998Coming Soon3 beds 2 baths1,526 sq. ft.1705 S Genesee, Los Angeles, CA 90019
MLS# PW26210401Listed by: EXP REALTY OF GREATER LOS ANGELES - Coming Soon
$1,475,000Coming Soon3 beds 3 baths1,619 sq. ft.5722 Le Sage Avenue, Woodland Hills, CA 91367
MLS# SR26210463Listed by: THE ONE LUXURY PROPERTIES - Coming SoonOpen Fri, 11am to 2pm
$779,000Coming Soon3 beds 2 baths1,254 sq. ft.17225 Horace, Granada Hills, CA 91344
MLS# SR26209578Listed by: RE/MAX ONE - Coming Soon
$799,000Coming Soon3 beds 2 baths1,490 sq. ft.7523 Craner, Sun Valley, CA 91352
MLS# SR26209794Listed by: CENTURY 21 MASTERS - Coming Soon
$1,349,000Coming Soon4 beds 4 baths2,331 sq. ft.10916 Ruffner Avenue, Granada Hills, CA 91344
MLS# 226004581Listed by: KELLER WILLIAMS EXCLUSIVE PROPERTIES
Protect your home and budget from life's surprises with an Assurant Home Warranty, backed by a partner that supports you through every step of homeownership. Explore Plans.
© 2026 Better Homes and Gardens Real Estate LLC. An Anywhere Real Estate company. All rights reserved. Better Homes and Gardens® Real Estate is a registered trademark owned by Meredith Operations Corporation, licensed to Better Homes and Gardens Real Estate LLC and used with permission. Better Homes and Gardens Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Listing information is deemed reliable but is not guaranteed accurate.
Each office is independently owned and operated.
Any services or products provided by third parties are not provided by, affiliated with or related to Better Homes and Gardens Real Estate LLC, or its affiliated companies.