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$ 999,000
Est. payment /mo
Active
3939 W 28th ST Los Angeles, CA 90018
8 Beds
4 Baths
3,199 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,199 sqft
Price per Sqft $312
MLS Listing ID 26669289
Bedrooms 8
HOA Y/N No
Year Built 1922
Lot Size 8,546 Sqft
Property Description
We are pleased to present 3939 W. 28th Street, a rare four-unit multifamily opportunity located in the highly desirable West Adams / Jefferson Park neighborhood of Los Angeles. This well-located asset sits on a large 8,542 square foot R3-zoned lot and offers significant upside through both rental repositioning and future redevelopment potential. The property consists of four spacious two-bedroom, one-bathroom units totaling approximately 3,199 square feet. Two units will be delivered vacant at the close of escrow, providing an immediate opportunity for an owner-user to occupy a unit while generating income from the remaining units, or for an investor to renovate and achieve market rents. Each unit benefits from an outdoor deck space, offering tenants a highly desirable indoor-outdoor living experience that is increasingly sought after in the West Adams market. Additionally, the property is equipped with individual gas meters, electricity meters and water heaters for each unit, helping to minimize operational complexity and reduce shared utility expenses. Current rents are significantly below market, with pro forma rents projected at approximately $2,100 per unit, offering a clear path to increased cash flow and a stabilized return of approximately 7.07% on a pro forma basis . The property also benefits from four on-site parking spaces, a valuable amenity in this supply-constrained rental market. Situated within a TOC Tier 3 designation, the property presents an attractive long-term redevelopment opportunity for investors seeking to capitalize on increased density incentives (buyer to verify). The large lot size and favorable zoning provide flexibility for future expansion or new construction. Additionally, the asset qualifies for residential financing, including 30-year fixed-rate loans, making it accessible to both investors and owner-users. 3939 W. 28th Street represents a unique opportunity to acquire a well-located asset with immediate vacancy upside, strong rental growth potential, and long-term development optionality in one of Los Angeles' most rapidly evolving submarkets.
Location
State CA
County Los Angeles
Area C16 - Mid Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Exterior
Parking Features Assigned
Total Parking Spaces 4
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5051015013
Special Listing Condition Standard
Listed by Benjamin J. Hsiang Realty Investment Advisors, Inc. #01438644
NEARBY SCHOOLS & PROPERTIES
Lisa Bethel
Advisor | Accredited Buyer's Representative | Seniors Real Estate Specialist® | License ID: 02046953