Los Angeles, CA 90057 816 S Westlake Avenue
$5,150,000
3 more
Presented By: Sean Rosenzweig with Marcus & Millichap;
Home Details
Do Not Walk the Property or Disrupt Tenants. Contact Listing Team for Property Showing Instructions. We are pleased to offer for sale 816 South Westlake Avenue, an 18-unit apartment community. 816 South Westlake is located south of 8th Street and east of Hoover Street, in the Westlake submarket of Los Angeles. Situated on a 7,502 square foot parcel, the property is comprised of six one-bedroom units and 12 two-bedroom units. Due to its 1990 construction, 816 South Westlake Avenue is not subject to Los Angeles City Rent Control and is subject to AB 1482 State Rent Control allowing for higher annual rental increases. The property has subterranean parking with security gated access and an elevator on-site. 816 South Westlake Avenue in close proximity to multiple venues for the 2028 Summer Olympics in Los Angeles. The property is located a short distance from venues in the "Downtown Sports Park" Including the LA Memorial Coliseum, Crypto.com Arena, BMO Stadium & more, which bode well for the long-term prospects of this neighborhood. 816 South Westlake Avenue presents investor a unique opportunity to attain a 1990's constructed asset in a dense infill Westlake location with in-place yield.
Presented By: Sean Rosenzweig with Marcus & Millichap;
Interior Features for 816 S Westlake Avenue
Bedrooms
Total Bedrooms30
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths30
Other Interior Features
LivingAreaSourceAssessor
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Total Stories3
General for 816 S Westlake Avenue
Additional Parcels Y/NNo
Attached Garage No
Cap Rate6.72
Carport Y/NNo
CityLos Angeles
CountyLos Angeles
Days on Market8
DirectionsEast of South Alvarado Street and South of West 8th Street
Full Baths
Garage Y/NNo
Gross Income550274.0
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsMultiSplit
Lot Size Square Feet7502.0
Lot Size UnitsSquareFeet
MLS AreaC42 - Downtown L.A.
MobileHomeRemainsYNNo
Net Operating Income346020.0
New ConstructionNo
NumberOfUnitsTotal18
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 Built1990
Year Built SourceAssessor
ZoningLAR3
Exterior for 816 S Westlake Avenue
Building Area Total15068.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1722
Lot Size Area7502.0
Lot Size SourceAssessor
Number of Buildings1
Open Parking Y/NNo
Parking FeaturesCovered
SpaNo
Total Parking19.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480