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812 E 28TH ST LOS ANGELES CA 90011 | MLS 18-361112 - Outland and Associates Real Estate

812 E 28TH ST LOS ANGELES CA 90011 | MLS 18-361112

812 E 28TH ST
LOS ANGELES, CA, 90011
$29,975,000
22 Beds
11 Baths
10,315 SqFt
0.34 Acres
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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.**

Property Details

Price:
$29,975,000
MLS #:
18-361112
Status:
Active
Beds:
22
Baths:
11.00
Address:
812 E 28TH ST
Type:
Residential Income
City:
LOS ANGELES
Listed Date:
Jul 3, 2018 (229 days)
State:
CA
Square Ft (approx):
10,315
ZIP:
90011
Lot Size:
15,002 sqft / 0.34 acres (approx)
Year Built:
1987

Schools

Interior

Cooling
Other
Heating
Other

Exterior

ParkingGarage
Gated

Financial

AssessedImprovementValue
$714,797
AssessedLandValue
$123,680

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et Out There, A Simply Outgoing Approach to Life. James Outland Jr. is one of those rare people who simply has an outgoing approach to life. No matter the activity… from dune buggy riding to skydiving to motorcycling to riding the local Pismo Beach waves… James Outland Jr. approaches life with a “just get out there and do it” kind of attitude. A zest for Life. James’ zest for life is obviously apparent in his many exciting hobbies. In his spare time, he loves riding dune buggies or his…

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Courtesy of David Harrington at Matthews Real Estate Investment Services. The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS) is for the visitor’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing.
Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprised of CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS), CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (Ventura County Regional Data Share). This site was last updated 2019-02-17.
812 E 28TH ST
LOS ANGELES, CA