124 N Westmoreland Ave | 30-Unit Rent-Controlled Multifamily Portfolio Offering in Koreatown / East Hollywood. Built in 1927, this well-located urban infill asset is comprised entirely of (30) studio units, a product type that continues to perform well in high-density, transit-oriented submarkets due to affordability, leasing velocity, and operational efficiency.… Read More The property is currently operating with multiple vacant units and below-market in-place rents, providing immediate upside through lease-up and systematic rent optimization across the rent roll. Situated along a dense residential corridor with proximity to major employment centers, neighborhood retail, and public transportation, the asset benefits from durable tenant demand in one of Los Angeles' most supply-constrained rental markets. Offered exclusively as part of a two-property Westmoreland Avenue portfolio, the property must be acquired together with the adjacent asset at 118 N Westmoreland Ave. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Taylor Avakian 310-259-7556
Listing Snapshot
Days Online
11
Last Updated
Square Ft.
17,730
Lot Size
0.19 Acres
Year Built
1927
MLS Number
26648425
Additional Details
Appliances & Equipment
Microwave
Building
Built in 1927, Living area: 17730.0, 1 building, Levels: MultiSplit
Cooling
WallWindowUnits
Heating
WallFurnace
Income
Gross Income: $506,438, Net Operating Income: $317,741
Lot
0.193 acres, Dimensions: 60x140
Parking
None
Taxes
Parcel Number: 5501007016, Zoning: LAM1
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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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