1249 S Westgate Avenue, Los Angeles, CA 90025
Property
Sold December 2024
Listing Agent: Cameron Samimi (DRE #02035763) · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 310-259-7556 · Bought with: Michael Padilla · Lyon Stahl Investment Real Estate, Inc. · MLS #SB24209550 · Source: CRMLS
About this property
First time on the market ever! 7/8 Units are vacant and renovation ready! Once stabilized and ADUs are built, the property will operate at a 7.88% cap rate and 9.09 GRM. 1249 S Westgate provides an investor with the opportunity to own a trophy asset in a desirable pocket of West LA, while also picking their own tenants! The subject property is comprised of (1) 2Bed+1Bath, (6) 1Bed+1Bath, and (1) Studio+1Bath units. Additionally, there is an opportunity to build (2) ADUs for added income. There are currently 9 parking spaces on site, as well as a common laundry area. Beneficial to the new owner, the building has copper plumbing, and all retrofit work has been completed. 1249 S Westgate is conveniently located near Third Street Promenade, UCLA Campus and the Brentwood Country Mart. With an A+ location and ideal curb appeal, the subject property is ideal for any investor looking for immediate upside and an ADU opportunity.
Listing description from the December 2024 sale, as reported to CRMLS.
Sale history