562-257-1200
1421 S Westmoreland Ave, Los Angeles, CA for Sale
Apartments - FOR SALE
1/4
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1421 S Westmoreland Ave
Los Angeles, CA 90006
Harvard Heights


HIGHLIGHTS

  • Excellent Value Add Opportunity. Potential ADU potential at the rear of the property.
  • New electrical wiring and panels throughout, partial plumbing upgrades, resealing of the roof.
  • New asphalt paving, security system, main gate entrance, and parameter fencing.
  • Eight (8) of the eighteen (18) units have been remodeled in recent years.
  • Pico Union Neighborhood adjacent to Downtown Los Angeles, CA. Nearby and easy access to LA Metro Public Transportation and Interstate Freeways.
  • Three (3) mile Average Household Income: $74,348 and 2028 Estimated Population: 661,066. Walking Score: 88. Bike Score: 73.

OVERVIEW

Marcus & Millichap REIS is pleased to present 1421 S. Westmoreland Avenue, Los Angeles, CA located on the west side of S. Westmoreland Avenue between W Pico Blvd and Venice Blvd in the Pico Union neighborhood of Central Los Angeles adjacent to Downtown Los Angeles, CA. The 3-story 18-unit multi-family residential apartment building was originally built in 1925. The subject property consists of approximately 9,834 square feet of building area with wood frame construction and a stucco façade. The entire parcel totals approximately 7,553 sq. ft. of land area with approximately 4-6 uncovered on-site parking spaces located at the rear of the property. The property is zoned: R4. The apartment building consists of (2)-two-bedrooms and one-bathroom, (3)-onebedroom and one-bathroom and (13)-Studio and one-bathroom units. Recent Building and Property Improvements have included new electrical wiring and panels throughout, partial plumbing upgrades, resealing of the roof, as well as new asphalt paving, security system, main gate entrance, and parameter fencing. Two (2) of the units have received recent renovations including new kitchens, bathrooms, and flooring and an additional six (6) units have also been remodeled in the last few years. Buyer to independently verify the condition of the property, building and each of the apartment units. The subject property is located less than two (2) miles from Downtown Los Angeles and its skyline of gleaming office towers providing a great source of employment as well as worldclass dining, arts, and entertainment. The property is also conveniently located near the greater Los Angeles Metro system and multiple freeways. providing easy access to the rest of the city, including Hollywood, Pasadena, and Culver City, that are just 20 minutes away.

FOR SALE DETAILS

PRICE

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# OF UNITS

18

CAP RATE

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% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1925

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,102 SF

ZONING

LAR4

APN/PARCEL ID

5056-002-011

ASK ABOUT THIS PROPERTY

Kevin KingKing Group of Marcus & MillichapMore Info
562-257-1200

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Kevin KingKing Group of Marcus & MillichapMore Info
562-257-1200

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