CA > Los Angeles
Los Angeles, CA 90004,132 S Westmoreland Ave
Los Angeles, CA 90004,132 S Westmoreland Ave
Los Angeles, CA 90004,132 S Westmoreland Ave
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Shawn Kormondy

Shawn Kormondy

+1(323) 638-7567
$3,595,000
Est. payment /mo
4 Beds
20 Baths
10,640 SqFt
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UPDATED:

07/02/2024 05:54 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 10,640 sqft

Price per Sqft $337

MLS Listing ID 24-409071

Bedrooms 4

Year Built 1925

Lot Size 7,929 Sqft

Acres 0.182

Property Description

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

Location

State CA

County Los Angeles

Area Mid-Wilshire

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating None

Cooling None

Equipment None

Exterior

Garage None

Building

Level or Stories Multi/Split

Others

Special Listing Condition Standard

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Listed by Marcus & Millichap

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Shawn Kormondy

+1(323) 638-7567

Agent | License ID: 01451888

Agent License ID: 01451888

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