140 South Westmoreland Avenue, Los Angeles, CA 90004

$1,969,000 Approx. USD 9 beds, 7 baths
4,191 sqft

Agent Remarks

CALL FOR OFFERS: Thursday 10/6/2016 @5PM. The Westmoreland Apartments is a Rare NON-RENT CONTROL, seven unit asset, located in one of the most Central and Desirable rental pockets in Los Angeles. All units are separately metered for Gas & Electricity, and all units have their own water heaters, keeping landlord expenses extremely LOW. The property features secure, gated entry, on-site laundry facilities, a community garden & 15 PARKING Spaces, including two garages. The property presents the astute investor with a NON-rent controlled asset; the ability to achieve market rents & operate with extremely low expenses & favorable financing, creating a solid income stream in a central & high-demand rental pocket, well positioned for accelerated appreciation. The property is situated on a 7,916 SF R3 lot, providing future development potential. Some expenses are estimates. Records provided upon accepted offer. 5.95% Cap Rate & 12.86 GRM based on market rents.

Listing Details

Property type: (Multi-Family)
Status: Pending
MLS# 16-165668
List price is $1,969,000
Beds: 9
Baths: 7
Built in 1982
4,191 sqft
2 Story stories
County: Los Angeles
Zoning: LAR3
Interior features: Other
Parking description: Controlled Entrance
Heating description: Other
MLS area: Mid-Wilshire (C17)

Last Updated: 11/12/2016

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This listing belongs to the Mid-Wilshire (C17) MLS area

The listing is zoned LAR3.
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Lat/Long: 34.072121, -118.287537.
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Broker: Courtesy of Elijah Korobkin
Listing Agent: Elijah Korobkin

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