325 S WESTLAKE Avenue, Los Angeles, CA 90057

Description

We are pleased to present a ten (10) unit apartment building located at 325 S Westlake Avenue in Los Angeles, California. The subject property is situated in a good Westlake location, south of West 3rd Street and east of South Alvarado Street. Built in 1959, this property contains a great unit mix of seven (7) one bedroom / one bathroom units and three (3) two bedroom / one bathroom units. The property is situated in an opportunity zone which offers tax benefits by exercising a heavy value add on the property. The soft story retrofit was completed by the seller as well and tenants have not been given an increase for the retrofit. The units are large and features plenty of lighting and closet space. The well-maintained building has laundry facilities and ten (10) on-site covered parking spaces available. Tenants will enjoy being within walking distance to incredible restaurant, retail, and recreational amenities. Some of these include Royal Indian Tandoori, Langer's Delicatessen-Restaurant, Mama's International Tamales, Hoho Chicken, The MacArthur, Dynasty Typewriter at the Hayworth, and many more. Outdoor recreation is available just down the street at historic MacArthur Lake Park. The subject property is in a good central location with easy access to the -101, -110, and -10 freeways. Situated in a good Westlake location, this offering presents an excellent opportunity for any investor to capitalize on strong rental upside potential in an opportunity zone adjacent to Downtown Los Angeles.

Listing description from the May 2022 sale, as reported to CRMLS.

Sale history

$2,400,000

Sold May 2022 · on market March 2022, 6 days on market · MLS #22132089 · Source: CRMLS

Listing Agent: Jason Tuvia · Listing Office: Marcus & Millichap · Contact: 818-212-2700 · Bought with: Kyungho Hwang · 4B Advisors Inc.

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