Residential Income - 138 S Westmoreland Avenue, Los Angeles, CA

$3,400,000

138 S Westmoreland Avenue, Los Angeles, CA

138 S Westmoreland Avenue, Los Angeles, CA 90004 - $3,400,000 · 32 ba Multi-Family Home for Sale, photo 3

138 S Westmoreland Avenue, Los Angeles, CA 90004 - $3,400,000 · 32 ba Multi-Family Home for Sale, photo 4

138 S Westmoreland Avenue, Los Angeles, CA 90004 - $3,400,000 · 32 ba Multi-Family Home for Sale, photo 5

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Description

138 S Westmoreland Ave | 33-Unit Value-Add Multifamily, Los Angeles. The property is a 1926-built asset totaling 18,604 SF on a 7,922 SF lot in Rampart Village, on the northern edge of Koreatown and within walking distance of the Metro B Line. It features (31) studio units averaging 445 SF and (2) 1+1 units at 625 SF. Twenty-eight units are currently occupied, and 21 of them rent below market. Four long-term tenancies dating to 20052011 sit 34%67% below the $1,395 studio market rent, and four vacant studios are ready to lease at market. Offered at $3,400,000 ($103,030/unit | $182.76/SF) with a 6.30% current cap rate, the real story is the rent-to-market gap a 7.71% pro forma cap and an entry roughly 12.7% below the ~$118K/unit average of recent comparable sales.

Property details

Bathrooms

Square feet

18,604

Year built

1926

Property type

Residential Income

Lot size

7,924 sqft

Location

138 S Westmoreland Avenue • Los Angeles, CA 90004

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Listed by

Taylor Avakian · Lyon Stahl Investment Real Estate, Inc.

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101 N Kenmore Avenue: Sold $1,340,000 · 8 bd · 8 ba · 7,680 sqft · Aug 2026 · 0.5 mi
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Closed sales reported in 90004, nearest first, last 12 months. All recent sales in Los Angeles →