$ 3,400,000
-
$3,400,000
Price -
1
Bed -
2
Bath -
18,604
SqFt -
0.18
Acre
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About the Listing CLW-X82195 - CLW-C138326
138 S Westmoreland Ave | 33-Unit Value-Add Multifamily, Los Angeles. The property is a 1926-built asset totaling 18,604 SF on a 7,922 SF lot in Rampart Village, on the northern edge of Koreatown and within walking distance of the Metro B Line. It features (31) studio units averaging 445 SF and (2) 1+1 units at 625 SF. Twenty-nine units are currently occupied, and 23 of them rent below market. Four long-term tenancies dating to 20052011 carry 34%67% upside to the $1,395 studio market rent, and three vacant studios are ready to lease at market. Offered at $3,400,000 ($103,030/unit | $182.76/SF) with a 6.17% current cap rate, the real story is the rent-to-market gap a 7.71% pro forma cap and an entry roughly 12.7% below the ~$118K/unit average of recent comparable sales.
Listing Highlights for 138 S Westmoreland Ave
Interior Details
- Bedrooms: 1
- Bathrooms: 2 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Lot Dimensions: 52x153
- Zoning: LAR3
- Roof:
- Others: 2+ Total Units
- Sewer:
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5501016009
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
138 S Westmoreland Ave Los Angeles, CA 90004
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