x
Address
812 E 28TH Street Los Angeles, CA
Price
$ 29,975,000
Property Attributes
  • MLS#18361112
  • TypeContingent
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaDowntown L.A.
  • Zip90011
  • Style
  • Price$ 29,975,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage10315
  • Lot Size0.34 Acres
Listing Provided Courtesy Of:
David Harrington with Matthews Real Estate Investmen.
Property Description

The Griffith Apartments present a very unique opportunity for a new investor. Since its construction in 1987, the property has been held as affordable housing for the community. The 30-year restriction has recently burned off, allowing the existing covenants with the city and state to now be removed from the property. A new owner will be allowed to reposition the asset and increase to market rental rates, which are substantially higher than the current rents at the property today. The floor plans at the building are all two bedroom, one bathroom units with a current average rent of only $1,102 per month. Based on how the market is performing today, we are projecting market rents of $2,100 per month for these unit types that average over 900 square feet each. This equates to an upside potential of nearly 91% from today's levels. ** This propety is being sold as part of a portfolio with 845 E. 28th St. Los Angeles, CA.**

Elementary School Middle School High School
Unknown Elementary School Unknown Middle School Unknown High School
Price History
7/3/2018 Listed $3,350,000
9/7/2018 3% - $3,250,000
1/7/2019 5% - $3,100,000

General Features

Directions Take the Adams Blvd exit from I-110 N, left on W. 28th St.
Listing Agent David Harrington - BRE#01320460
Listing Agent State License 01320460
MLS Area C42 - Downtown L.A.
Price Per Square Foot 2905.96
Special Listing Conditions Standard
Total Units 11
Zoning LARD2

Interior Features

Air Conditioning Y/N Yes
Cooling See Remarks
Laundry Features See Remarks
Laundry Y/N Yes
Total Stories 3

Exterior Features

Building Area Total 10315.00
Lot Size Acres 0.3444
Lot Size Area 15002.0000
Lot Size Square Feet 15002.00
Lot Size Units Square Feet
Number of Buildings 2

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Pets
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 90011

Price
AVG $2.59M
$29.98M
Visits
AVG 30
108
Year Built
AVG 1936
1987
Walkscore
AVG 78
84
Data Provided by Walkscore ® not using MLS data

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