725 S Westlake Ave - Apartments FOR SALE
Los Angeles, CA 90057 |
725 S Westlake Ave
Los Angeles, CA 90057
HIGHLIGHTS
- The Olympic is a unique 172-room apartment building and hotel located in the heart of Westlake between 7th and 8th Street
- Adjacent to MacArthur Park; a location just over one mile to Downtown Los Angeles that is surrounded by new developments, employment and education...
- Built in 1925, the Olympic was originally a hotel which has been partially converted to include 31 apartment units and 141 weekly rentals
- 82% of the building is rented weekly for a rate of $225 per week plus a $25 key deposit, with up to three weeks stay
- All 172 rooms are 150 square foot singles with private bathrooms
- Prime opportunity to acquire a 172-room building in Westlake with a projected 7.06% CAP rate when fully occupied at market rates
FOR SALE DETAILS
PRICE
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# OF UNITS
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CAP RATE
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% LEASED
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BUILDING DETAILS
PROPERTY NAME
Olympic Hotel
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Mid-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
45088
STORIES
4
YEAR BUILT
1925
PARKING SPACES
-
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
-
APN/PARCEL ID
5141-019-013
