1256 S Westgate Ave - Apartments FOR SALE


Los Angeles, CA 90025- West Los Angeles
$2,750,000 USD
310-467-7581
1256 S Westgate Ave, Los Angeles, CA for Sale
$2,750,000 USD
Apartments - FOR SALE
1/10
null | 3.92% Cap Rate

1256 S Westgate Ave
Los Angeles, CA 90025
West Los Angeles


HIGHLIGHTS

  • First time on the market
  • Value-add opportunity with approximately 72% upside in rents. Will be delivered with 1 vacant unit for immediate access to upside
  • Great mix consisting of (1) 2 bed, 2 bath, (2) 2 bed, 1 bath, (7) 1 bed, 1 bath units
  • One block south of Wilshire, adjacent to Brentwood in a premiere rental pocket of LA's Westside
  • Excellent Walk Score with shops, high-end restaurants and nightlife within walking distance of the subject property
  • Rare opportunity to acquire generational real estate asset in a premiere Westside submarket

OVERVIEW

The James Group is pleased to present 1256 S. Westgate Ave in a prime West Los Angeles submarket just a block south of Wilshire Blvd and adjacent to Brentwood, another premier rental pocket of LA’s westside. The subject property is a 10 unit apartment building built in 1960. The building boasts an excellent unit mix including (7) 1 bed / 1 bath and (3) 2 bed / 1 bath units spread out over 7,391 square feet and sits on a 7,202 square foot LAR3 zoned lot. 1256 Westgate is a unique value-add opportunity in one of the best rental pockets of Los Angeles. With approximately 72% upside in rents a future investor will benefit from a well located asset and long term growth potential.

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$372 USD /SF

# OF UNITS

10

PRICE/UNIT

$275,000

CAP RATE

3.92%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,317 SF

ZONING

LAR3

APN/PARCEL ID

4263-007-025

ASK ABOUT THIS PROPERTY

Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

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Peter JamesLyon Stahl Investment Real EstateMore Info
310-467-7581

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.