Los Angeles, CA 90004 132 S Westmoreland Avenue
$3,595,000
2 more
Presented By: Neema Ahadian with Marcus & Millichap;
Home Details
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
Presented By: Neema Ahadian with Marcus & Millichap;
Interior Features for 132 S Westmoreland Avenue
Bedrooms
Total Bedrooms4
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths20
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Total Stories
General for 132 S Westmoreland Avenue
Additional Parcels Y/NNo
Attached Garage No
Carport Y/NNo
CityLos Angeles
CoolingNone
CountyLos Angeles
Days on Market57
DirectionsLocated in the Koreatown neighborhood ofLos Angeles located just south of 1st St between Virgil Ave and Vermont Ave
Full Baths
Garage Y/NNo
Gross Income341772.0
HeatingNone
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsMultiSplit
Lot Size Square Feet7929.0
Lot Size UnitsSquareFeet
MLS AreaC17 - Mid-Wilshire
MobileHomeRemainsYNNo
Net Operating Income186674.0
New ConstructionNo
NumberOfUnitsTotal20
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
View Y/NNo
Waterfront Y/NNo
Year Built1925
ZoningLAR3
Exterior for 132 S Westmoreland Avenue
Building Area Total10640.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.182
Lot Size Area7929.0
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesNone
SpaNo
Total Parking0.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480