$ 3,595,000
132 S Westmoreland AVE Los Angeles, CA 90004
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$ 3,595,000
Est. payment /mo
Active
132 S Westmoreland AVE Los Angeles, CA 90004
4 Beds
20 Baths
10,640 SqFt
UPDATED:
09/30/2024 06:45 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,640 sqft
Price per Sqft $337
MLS Listing ID 24409071
Bedrooms 4
HOA Y/N No
Year Built 1925
Lot Size 7,927 Sqft
Acres 0.182
Property Description
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
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR3
Interior
Heating None
Cooling None
Fireplace No
Exterior
Garage None
Parking Type None
Building
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5501016008
Special Listing Condition Standard
Listed by Neema Ahadian • Marcus & Millichap