$3,400,000
Los Angeles, CA 90004
0
Beds
32
Baths
18,604
Sq. Ft.
1926
Year Built
Los Angeles
County
ResidentialIncome
Property Type
138 S Westmoreland Ave | 33-Unit Value-Add Multifamily, Los Angeles. The property is a 1926-built asset totaling 18,604 SF on a 7,922 SF lot in Rampart Village, on the northern edge of Koreatown and within walking distance of the Metro B Line. It features (31) studio units averaging 445 SF and (2) 1+1 units at 625 SF. Twenty-nine units are currently occupied, and 23 of them rent below market. Four long-term tenancies dating to 20052011 carry 34%67% upside to the $1,395 studio market rent, and three vacant studios are ready to lease at market. Offered at $3,400,000 ($103,030/unit | $182.76/SF) with a 6.17% current cap rate, the real story is the rent-to-market gap a 7.71% pro forma cap and an entry roughly 12.7% below the ~$118K/unit average of recent comparable sales.
$18,096/mo
20% down · 7% APR · 30-yr fixed
Estimate only. Does not include taxes, insurance, or HOA.
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