27th Street Apartments in Los Angeles' Historic South Central area offer investors a prime rental opportunity in a bustling location. The 23-unit building, located at 440 E 27th Street, underwent a comprehensive $1.2 million renovation in 2024, resulting in a new Certificate of Occupancy. With updated plumbing, electrical systems, and modern interiors, this turnkey property minimizes immediate maintenance needs for investors. The property's micro-unit model has shown a strong rental yield, making it an attractive investment. Currently boasting a 95% occupancy rate, the 27th Street Apartments generate a solid NOI and offer a promising CAP rate of 8.07%. The prime location also benefits from a continuously growing population and median household income in the surrounding area, ensuring long-term investment potential. Don't miss out on this opportunity to own a high-quality asset with significant value appreciation potential in the heart of Los Angeles. Comprehensive 2024 Gut Renovation with New COFO: The entire building was gut renovated, resulting in a new Certificate of Occupancy issued in 2024. Over $1.2 million in capital improvements were completed, including all-new plumbing, electrical systems, drywall, paint, flooring, and cabinetry. This turnkey status provides investors with a high-quality asset and minimal immediate maintenance requirements. Proven Micro-Unit Model with Strong Rental Yield: The building features 23 units comprised primarily of micro-units (87% studios) designed to serve budget-oriented residents in Los Angeles. This high-efficiency model yields an impressive rent of $4.94 per square foot, justifying the property's valuation through proven rental demand for smaller, affordable living spaces. Immediate Financial Performance and High Returns: At an asking price of $3,150,000, the property offers a current CAP rate of 8.07% and a 10.12% Cash-on-Cash return. This performance significantly exceeds the market average CAP rate of 7.11%, making it an exceptional opportunity for investors seeking robust, immediate cash flow. Substantial Built-In Revenue Upside: There is significant potential for growth, with the pro forma CAP rate projected at 8.55% and a Cash-on-Cash return of 11.72%. Financial projections show that monthly income can grow from the current $33,661 to a market rate of $41,375, representing a nearly 23% revenue increase as legacy leases are marked to market. Strategic Location in Historic South Central Hub: Located at 440 E 27th Street, the property is nestled in a thriving rental hub near the University of Southern California (USC) and major transit routes like the Expo Line. The neighborhood is experiencing active revitalization and sits within a demographic area projected to have an average household income of $81,857 within a 3-mile radius by 2026.