132 Westmoreland Avenue Los Angeles, CA 90004

Cluster Residence

4 Beds

20 Baths

10,640 Sq. Ft.

0.18 Acre Lot

Property Activity

Time on Site

days

Days on Market

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Last updated on 9/28/2024 4:17 AM

Listing Details

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 uni...ts 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 Continue reading

MLS#

24409071

Property Type

Cluster

Status

Bedrooms

Bathrooms

Year Built

1925

Square Feet

10,640 sq. ft

Lot Size