$3,595,000
- Beds
- 4
- sq ft
- 10,640
132 S Westmoreland Ave, Los Angeles, CA 90004
132 S Westmoreland Ave
Los Angeles, CA 90004
- 80 days on market
132 S Westmoreland Ave is a 20-unit multifamily investment opportunity in the Koreatown neighborhood of Los Angeles located just south of 1st St between Virgil Ave and Vermont Ave. The property features a unit mix of 15 singles and 5 one-bedrooms; four singles will be delivered vacant; renovated units include new cabinetry, vinyl-plank flooring, stainless-steel appliances, tile bathrooms, and new paint's; ownership has spent $544k on interior unit renovations since 2021. At the asking price, the property is being offered at a 5.19% CAP rate and 10.52 GRM on current income with an additional 21% rental upside achievable as units turn through continued interior renovations. There is significant additional income with RUBS in place, as well as internet service. The property has a secured, gated entrance with intercom access; electricity is also separately metered. High Walk Score of 90, the property is close to the Metro B & D Rail Lines, and multiple Metro Local Lines along Beverly Blvd, Vermont Ave, and 3rd St. The property is ideally located with a short commute to Westlake, Hollywood, Echo Park, and Downtown Los Angeles
Details
Property type
Lot size
7,929 sq ft
Price per sq ft
$338
Year built
1925
HOA
No
Price History
06/17/2024
CLAW #24409071
Listed
$3,595,000
Schools & Community
Neighborhood:
Koreatown
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 09/20/2024 at 1:20 PM
Listing updated: 08/13/2024 at 12:54 PM
Listed by: Neema Ahadian, Marcus & Millichap Phone #: (310) 909-5500
MLS: CLAW #24409071
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