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217 E 28Th St, Los Angeles, CA 90011
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217 E 28Th St Los Angeles, CA 90011

$1,075,000 Sold Price as of 06/06/2022
  • 9 Beds
  • 6 Baths
  • 4,348 Sq.Ft.
Sold
$1,075,000 Sold Price as of 06/06/2022 Refinance Your Mortgage
Map preview of 217 E 28Th St, Los Angeles, CA 90011

Property Overview: 217 E 28Th St Los Angeles, CA has 9 bedrooms, 6 bathrooms, 4,348 living square feet and 6,252 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: One of the lowest costs of entry into LA Multi-Family, 217 E 28th Street is a 5-unit priced at $1,170,000 in the heart of South Los Angeles. This income producing property features a unit mix of 3-bedroom, 2-bedroom, and 1-bedroom units. Located in Historic South Central and just East of USC Campus, the subject property is just minutes from where I-10 and I-110 intersect. Soft-Story Retrofit work has already been completed per LADBS regulations and the Certificate of Compliance has been issued. The new owner will enjoy a value-add asset located in an OPPORTUNITY ZONE with approximately 53% rental upside. There is also the potential to build (1) ADU in the rear parking lot (Buyer to Verify). The astute investor will be able to aggressively capture the remaining upside, as 217 E 28th St remains an attractive space to a wide variety of qualified tenants in the ever developing, up and coming city of South LA, one of the largest submarkets in The Greater Los Angeles Area. PLEASE NOTE: 3 bedroom unit is currently vacant and in rent ready condition.

Listed by Chase Simonton | BRE #01766871 | RE/MAX One
Last checked: 6 minutes ago | Last updated: June 6th, 2022 | Source CRMLS | DOM: 52

Home details

Lot Sq. Ft
6,252
HOA Dues
$0/mo
Year built
1919
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22130045
City
Los Angeles
County
Los Angeles
Time on Site
816 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,086
  • Total Rent: $1,086
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,026
  • Total Rent: $1,026
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,700
  • Total Rent: $2,700
  • Pro Forma/Market Rent: $2,700
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,119
  • Total Rent: $1,119
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $997
  • Total Rent: $997
  • Pro Forma/Market Rent: $2,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 14.07
  • Gross Scheduled Income: --
  • Net Operating Income: $55,297
  • Gross Operating Income: $80,643
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 217 E 28Th St

Interior Features
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Security Features: Gated Community, Fire and Smoke Detection System, Carbon Monoxide Detector(s)
Exterior Features
Exterior Information
  • Roof: Shingle
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 6
  • Has Parking
  • Parking Features: Covered
Lot Information
  • Lot Features: Front Yard, Yard
Property Information
  • Has View
  • View: City Lights
  • Total # of Units: 5
  • Parcel Number: 5128002031
  • Architectural Style: Traditional
Location / Neighborhood
Location Information
  • Directions: East of Maple Ave/E Adams Blvd. West of E Jefferson Blvd/S Grand Ave. Just South of the I-10 and I-110 Intersect.
View more facts & features

Local Los Angeles Agent

Sale History for 217 E 28Th St

Last sold for $1,075,000 on June 6th, 2022

  • June, 2022

  • Jun 6, 2022

    Date

    Sold

    CRMLS: 22130045

    $1,075,000

    Price

  • Feb 22, 2022

    Date

    Active

    CRMLS: 22130045

    $1,250,000

    Price

  • March, 2019

  • Mar 1, 2019

    Date

    Sold

    CRMLS: 18415236

    $855,000

    Price

  • Feb 28, 2019

    Date

    Pending

    CRMLS: 18415236

    $885,000

    Price

  • Dec 12, 2018

    Date

    Active

    CRMLS: 18415236

    $885,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to offer a five (5) unit multifamily investment offering, located in the City of Los Angeles (subject to rent control ordinance). The unit mix consists of four (4) 1+1 and one (1) 3+2 units with an approximate 4,348 rentable square feet situated on a 6,251 square foot parcel. Building amenities include a wrought iron gate for secured entry, aluminum windows, four (4) tuck under parking spaces with two (2) additional uncovered spaces, and the property is separately metered both for gas & electricity. This property qualifies for the City of Los Angeles Soft Story Retrofit Requirement.

  • March, 2019

  • Mar 1, 2019

    Date

    Sold (Public Records)

    Public Records

    $855,000

    Price

  • February, 2019

  • Feb 1, 2019

    Date

    Expired

    CRMLS: 18402114

    $899,000

    Price

  • Nov 28, 2018

    Date

    Withdrawn

    CRMLS: 18402114

    $899,000

    Price

  • Oct 30, 2018

    Date

    Active

    CRMLS: 18402114

    $899,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to offer a five (5) unit multifamily investment offering, located in the City of Los Angeles (subject to rent control ordinance). The unit mix consists of four (4) 1+1 and one (1) 3+2 units with an approximate 4,348 rentable square feet situated on a 6,251 square foot parcel. Building amenities include a wrought iron gate for secured entry, aluminum windows, four (4) tuck under parking spaces with two (2) additional uncovered spaces, and the property is separately metered both for gas & electricity. This property qualifies for the City of Los Angeles Soft Story Retrofit Requirement.

  • December, 2017

  • Dec 1, 2017

    Date

    Sold (Public Records)

    Public Records

    $750,000

    Price

  • October, 2012

  • Oct 30, 2012

    Date

    Expired

    CRMLS: 12164018

    $529,000

    Price

  • May 2, 2012

    Date

    Active

    CRMLS: 12164018

    $529,000

    Price

  • Listing provided courtesy of CRMLS

    Fantastic investment opportunity!!!!!!!!!!! The tenancy is very stable within this 5 unit apartment building. Currently all units are occupied, with long term tenants. The building is located within a close proximity to many amenities. The unit mix consists of 4 one bedroom one bath, and one 3 bedroom. Great income and return on your investment!

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Tax History for 217 E 28Th St

Assessed Value (2020): $873,000
Year Land Value Improved Value Assessed Value
2020 $510,000 $363,000 $873,000

Home Value Compared to the Market

This property vs the competition

217 E 28Th St sold on June 6, 2022 for 1.68% lower than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $269.09 per/sqft which puts the price per square foot 64.36% lower than the current median sale per square foot for the city of Los Angeles.

About 217 E 28Th St

Detailed summary of property

217 E 28Th St is a multi family that recently sold in Los Angeles, CA 90011. This multi family property offered 9 bedrooms, 6 bathrooms, roughly 4,348 living square feet, and sits on an approximately 6,252 square foot lot. 217 E 28Th St was first listed on ArdentRealEstateGroup.com on February 22, 2022. The homeowner sold the property for $1,075,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 1.68% lower than the current median priced home. Local homes that are currently for sale include 4355 S Avalon Blvd, 1703 Toberman St and 1156 W 25th St. While the average home in Los Angeles, CA is selling in 92 days, 217 E 28Th St has a days on market of 52 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 217 E 28Th St Los Angeles, CA 90011 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 217 E 28Th St

Public county record property details
Beds
7
Baths
6
Year built
1919
Sq. Ft.
4,348
Lot Size
6,251
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
33
APN
5128-002-031

The source for these homes facts are from public records.

90011 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$659,000
Median List Price/Sq.Ft.
$460
Median Sold Price
$550,000
Median Sold Price/Sq.Ft.
$405
Total Inventory
44
Median Sale to List Price %
104.76%
Avg Days on Market
54
Loan Type
Conventional (33.33%), FHA (25%), VA (0%), Cash (33.33%), Other (8.33%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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