1701 Westmoreland Boulevard, Los Angeles, CA 90006

About this property

We are pleased to present 1701 Westmoreland Blvd, a 24-unit value-add investment opportunity in the Harvard Heights neighborhood of Los Angeles. The subject property was originally a HUD Project-Based Section 8 property and was opted out of the HUD program in October2011. Ideally positioned between Venice Blvd and W Washington Blvd, the property is just minutes from Downtown Los Angeles and Koreatown, with convenient access to the10 Freeway. Harvard Heights is a densely populated neighborhood known for its historic architecture and strong rental demand, making this an attractive opportunity for investors seeking upside potential in a prime central location.The property features a desirable unit mix of six one-bedroom and 18 two-bedroom units, along with 27 parking spaces. Current rents are significantly below market, offering over 79% rental upside. The property is well positioned for a Naturally Occurring Affordable Housing (NOAH) conversion, as 50% of the current tenants are voucher holders, while the remaining units rent for below approximately 80% of the area's median income (AMI). This favorable rent structure enhances the property's long-term stability and appeals to both value-add and mission-driven affordable housing operators. Residents benefit from a high walk score of 88, with convenient access to public transportation just two blocks away on S Western Ave, as well as proximity to major retailers, Loyola High School, other neighborhood amenities and major employment hubs.

Listing description from the July 2025 sale, as reported to CRMLS.

Sale history

$3,390,000

Sold July 2025 · listed $3,800,000, on market March 2025 · MLS #25523161 · Source: CRMLS

Listing Agent: Neema Ahadian · Listing Office: Marcus & Millichap · Contact: 310-909-5500 · Bought with: Neema Ahadian · Marcus & Millichap

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