We are pleased to present for sale an eight-unit apartment community located at 149 South Westmoreland Avenue. Situated just south of 1st Street and west of Virgil Avenue, the property is located near Koreatown in a vibrant and rapidly evolving pocket. Situated on a 6,496-square-foot lot, the property is comprised… Read More of seven two-bedroom units and one one-bedroom unit. The property has 57% remaining rental upside through interior unit renovations. The property is individually metered for gas & electric, and each unit has a separate water heater. This offering provides investors the rare opportunity to acquire a 1920s vintage apartment asset consisting of large two-bedroom units with significant upside. Ongoing neighborhood revitalization, combined with the property's value-add potential, positions 149 South Westmoreland Avenue as an exceptional investment with strong prospects for superior future returns. PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS. Read Less
Property listed by Marcus & Millichap, Sean Rosenzweig 310-909-5500
Listing Snapshot
Days Online
67
Last Updated
Property Type
Other
Beds
15
Square Ft.
8,458
Lot Size
0.15 Acres
Year Built
1926
MLS Number
25580985
30 Days Snapshot Of 90004
$2.20M
-18%
(avg) sold price
18
+50%
homes sold
84
+5%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1926, Building area total: 8,458, Levels: Two, Living area: 8458, 2 stories, 1 building
Income
Gross income: $142,182, Net operating income: $80,396
Lot
0.1492 acres, 6,497 square feet, Size: 6,497
Parking
None
Property
Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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