| 310.858.5474

519 S WESTMORELAND Avenue

return to properties

519 S WESTMORELAND Avenue | Los Angeles, CA

$5,150,000

9,932 SQ.FT.

Westmoreland Apartments is an 18-unit non rent controlled, value-add opportunity located in the highly desirable Koreatown sub-market. Built in 1984, the subject property is constructed of wood frame and stucco and is situated on an 8,400 square foot parcel, zoned LAR4. The property features efficient floor plans consisting of 18 one-bedroom / one-bath units. Unit amenities include on-site parking and balconies. The property is individually-metered for electric and features all electric appliances. Westmoreland Apartments presents the rare opportunity to acquire a 1980's constructed, value-add multi-family investment which has largely not been renovated since it was built. An investor will be able to immediately implement a comprehensive interior and exterior renovation to re-position the property into a luxury rental community and increase rental income by an estimated 37 percent.
Listing Provided by Sean Rosenzweig, Marcus & Millichap

Based on information from California Regional Multiple Listing Service, Inc. as of October 25, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.