1256 S Westgate Ave - Apartments FOR SALE


Los Angeles, CA 90025
$3,200,000 USD
310-467-7581
1256 S Westgate Ave, Los Angeles, CA for Sale
$3,200,000 USD
Apartments - FOR SALE
1/10
null | 3.17% Cap Rate

1256 S Westgate Ave
Los Angeles, CA 90025


HIGHLIGHTS

  • First time on the market. Value-add opportunity with approximately 72% upside in rents.
  • 10 Units in Prime West Los Angeles submarket consisting of (1) 2 Bed / 2 Bath, (2) 2 Bed / 1 Bath and (7) 1 Bed / 1 Bath units
  • One block south of Wilshire, adjacent to Brentwood in a premiere rental pocket of LA’s Westside
  • Excellent Walk Score with shops, high-end restaurants and nightlife within walking distance of the subject property
  • Strategic location with Santa Monica directly west, Brentwood one block north, and Westwood to the east. Surrounded by all of the major Economic hubs.
  • Opportunity to acquire generational real estate asset in a premiere Westside submarket

OVERVIEW

The James Group is 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 continues 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 real estate asset in one of LA’s best neighborhoods.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$433 USD /SF

# OF UNITS

10

PRICE/UNIT

$320,000

CAP RATE

3.17%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

LAR3

APN/PARCEL ID

4263-007-025

ASK ABOUT THIS PROPERTY

Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

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Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.