132 S Westmoreland Avenue Los Angeles, CA 90004
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
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site44 Days
- MLS StatusActive
- MLS ID Number24409071
- Home Size Source N/A
- Year Built1925
- Lot Size0.182 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking None
- Parking Spaces 0
- Number of Stories Multi/Split0
- Acreage 0.182
- Zoning LAR3
- Listing Conditions Standard
Interior Features
- Cooling None
- Heating None
Community Features
- Senior Community No
- MLS Area C17 - Mid-Wilshire