140 S Westmoreland Avenue,  Los Angeles CA, 90004 (Residential Income)

4,191 sqft
Status: Pending
MLS#: 16165668
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Last Updated: 12/10/2016 2:39 PM
Description for 140 S Westmoreland Avenue Los Angeles, CA 90004
CALL FOR OFFERS: Thursday 10/6/2016 @5PM. The Westmoreland Apartments is a Rare NON-RENT CONTROL, seven unit asset, located in one of the most Central and Desirable rental pockets in Los Angeles. All units are separately metered for Gas & Electricity, and all units have their own water heaters, keeping landlord expenses extremely LOW. The property features secure, gated entry, on-site laundry facilities, a community garden & 15 PARKING Spaces, including two garages. The property presents the astute investor with a NON-rent controlled asset; the ability to achieve market rents & operate with extremely low expenses & favorable financing, creating a solid income stream in a central & high-demand rental pocket, well positioned for accelerated appreciation. The property is situated on a 7,916 SF R3 lot, providing future development potential. Some expenses are estimates. Records provided upon accepted offer. 5.95% Cap Rate & 12.86 GRM based on market rents.
Price
$1,969,000
Los Angeles
4,191 (approx)
16165668
Pending
Description
CALL FOR OFFERS: Thursday 10/6/2016 @5PM. The Westmoreland Apartments is a Rare NON-RENT CONTROL, seven unit asset, located in one of the most Central and Desirable rental pockets in Los Angeles. All units are separately metered for Gas & Electricity, and all units have their own water heaters, keeping landlord expenses extremely LOW. The property features secure, gated entry, on-site laundry facilities, a community garden & 15 PARKING Spaces, including two garages. The property presents the astute investor with a NON-rent controlled asset; the ability to achieve market rents & operate with extremely low expenses & favorable financing, creating a solid income stream in a central & high-demand rental pocket, well positioned for accelerated appreciation. The property is situated on a 7,916 SF R3 lot, providing future development potential. Some expenses are estimates. Records provided upon accepted offer. 5.95% Cap Rate & 12.86 GRM based on market rents.
Listing Information
Property Type: Cluster, Other
0.18 Acres 791,600 sq.ft. 4,191 (approx)
$469.82 1982
7 Total
Neighborhood
Room Information
Exterior / Lot Features
LAR3
Driving Directions
East of Vermont Avenue; West of Virgil Avenue; North of 3rd Street; South of Beverly Boulevard. Located within close proximity of fine dining, nightlife, entertainment venues, public transportation, major employment hubs and adjoining neighborhoods i.e. >
Financial Considerations
5501016010
,$35,759
Listing Price History

Los Angeles Real Estate

Los Angeles is located in California. Los Angeles, California 90004 has a population of 3,804,503.

The median household income in Los Angeles, California 90004 is $49,745. The median household income for the surrounding county is $56,241 compared to the national median of $53,046. The median age of people living in Los Angeles 90004 is 34.1 years.

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Courtesy: Elijah Korobkin Elijah Korobkin
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Information is deemed reliable but is not guaranteed.

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