Property Details


Year Built: 1925
Units: 20
Price / Unit: $179,750
Price / SqFt: $337
CAP: 5.19
GRM: 10.52

Executive Summary


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The Neema Group of Marcus & Millichap is pleased to present 132 S Westmoreland Ave, a 20-unit multifamily investment opportunity in the Koreatown neighborhood of Los Angeles located just south of 1st St between Virgil Ave and Vermont Ave

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The property features a unit mix of 15 singles and 5 one-bedrooms; four singles will be delivered vacant; renovated units include new cabinetry, vinyl-plank flooring, stainless-steel appliances, tile bathrooms, and new paint’s; ownership has spent $544k on interior unit renovations since 2021

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At the asking price, the property is being offered at a 5.19% CAP rate and 10.52 GRM on current income with an additional 21% rental upside achievable as units turn through continued interior renovations 

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There is significant additional income with RUBS in place, as well as internet service 

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The property has a secured, gated entrance with intercom access; electricity is also separately metered

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High Walk Score of 90, the property is walking distance to the Metro B & D Rail Lines, and multiple Metro Local Lines along Beverly Blvd, Vermont Ave, and 3rd St

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The property is ideally located with a short commute to Westlake, Hollywood, Echo Park, and Downtown Los Angeles

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