Los Angeles, CA 90025 1256 S Westgate Avenue
$3,300,000
6 more
Presented By: Peter James with Lyon Stahl Investment Real Estate, Inc.;
Home Details
We are pleased to present 1256 S. Westgate Ave in a prime West Los Angeles submarket just a block south of Wilshire Blvd and adjacent to Brentwood, another premier rental pocket of LA's westside. The subject property is a 10 unit apartment building built in 1960. The building boasts an excellent unit mix including (7) 1 bed / 1 bath and (3) 2 bed / 1 bath units spread out over 7,391 square feet and sits on a 7,202 square foot LAR3 zoned lot. 1256 Westgate is a unique value-add opportunity in one of the best rental pockets of Los Angeles. With approximately 72% upside in rents a future investor will benefit from a well located asset and long term growth potential. LA's Westside has continued to prove to be one of the, if not the best, rental pockets in all of Los Angeles. With continued rent growth and low vacancy rates renters continue to seek out opportunities in the immediate area surrounding the subject property. With Santa Monica directly to the west, Brentwood directly to the north and Westwood just a short distance to the east, the property is strategically positioned. Area amenities include high end restaurants, bars and nightlife along with shopping and a robust office market making it a perennial economic hub in Southern California. The location and rental upside make this an opportunity to own a generational asset in one of LA's best neighborhoods.
Presented By: Peter James with Lyon Stahl Investment Real Estate, Inc.;
Interior Features for 1256 S Westgate Avenue
Bedrooms
Total Bedrooms13
Bathrooms
1/4 Baths0
3/4 Baths0
Full Baths
Half Baths
Total Baths11
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace FeaturesNone
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Street SuffixAvenue
Total Stories2
General for 1256 S Westgate Avenue
Additional Parcels Y/NNo
AppliancesRefrigerator, Dryer, Washer
Architectural StyleMidCenturyModern
Attached Garage No
Buyer FinancingCash
Cap Rate2.74
Carport Y/NNo
CityLos Angeles
Construction MaterialsStucco
CoolingNone
CountyLos Angeles
Days on Market49
DirectionsWestgate Ave south of Wilshire Blvd north of Texas Ave
Facing DirectionWest
Garage Spaces0.0
Garage Y/NNo
Gross Income170495.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet7204.0
MLS AreaWLA - West Los Angeles
MobileHomeRemainsYNNo
Net Operating Income90349.0
New ConstructionNo
Occupancy TypeTenant
Pool FeaturesNone
Private PoolNo
Property Attached Y/NNo
Property TypeResidentialIncome
Rent Control Y/NYes
Security FeaturesCarbonMonoxideDetectors, SmokeDetectors
Senior Community Y/NNo
SewerOther
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Street NameWestgate
Tenant PaysElectricity, Gas
Total Units10
ViewCityLights
View Y/NYes
Waterfront Y/NNo
Year Built1960
ZoningLAR3
Exterior for 1256 S Westgate Avenue
Building Area Total7391.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesRectangularLot
Lot Size Acres0.1654
Lot Size Area7204.0
Lot Size UnitsSquareFeet
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesCovered, OneSpace, SideBySide
SpaNo
Total Parking10.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480