229 S Westlake Ave - Apartments FOR SALE


Los Angeles, CA 90057- Westlake North
$1,895,000 USD
818-448-4415
229 S Westlake Ave, Los Angeles, CA for Sale
$1,895,000 USD
Apartments - FOR SALE
1/7
null | 7.56% Cap Rate

229 S Westlake Ave
Los Angeles, CA 90057
Westlake North


HIGHLIGHTS

  • Recent Capital Improvements Include a New Sewer Line, Upgraded Electrical Systems, and Upgraded Copper Lateral Plumbing Lines
  • Distinctive Interior Details Include Vintage Chandeliers and Sunken Bathtubs Throughout the Units
  • Separately Metered for Gas and Electric
  • On-Site Laundry Facility
  • Multiple ADU Conversion Opportunities
  • Streamlined Unit Mix - Twelve (12) Studios

OVERVIEW

Marcus and Millichap is pleased to present a twelve (12) unit apartment building located at 229 S Westlake Ave in Los Angeles, California. The subject property is located in a good Echo Park-adjacent location, just south of Beverly Blvd and east of Alvarado St. Located in a strong Echo Park-adjacent location, the property features a streamlined unit mix of twelve (12) studio units and classic Spanish-style architecture. Recent capital improvements include a new sewer line, upgraded electrical systems, and upgraded copper lateral plumbing lines. The property is separately metered for gas and electricity and includes an on-site laundry facility. A rear courtyard and basement present potential ADU conversion opportunities for additional rental upside (buyer to verify). The property benefits from immediate access to the 101 and 110 Freeways, the Metro B Line at Westlake/MacArthur Park Station, and major commercial corridors including Beverly Blvd, Alvarado St, Temple St, and 3rd St. Nearby amenities include Echo Park Lake, Vista Hermosa Park, dining, shopping, and entertainment options. With recent capital improvements, attractive ADU conversion potential, classic Spanish-style architecture, and a solid Echo Park-adjacent location near major transit corridors and neighborhood amenities, the property offers a compelling value-add opportunity in one of Los Angeles’ most dynamic rental markets. For OM, please visit: https://www.lamultifamilydeals.com/properties/229-s-westlake-ave

FOR SALE DETAILS

PRICE

$1,895,000 USD

PRICE/SF

$308 USD /SF

# OF UNITS

12

PRICE/UNIT

$157,917

CAP RATE

7.56%

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,254 SF

ZONING

LAR3

APN/PARCEL ID

5154-005-003

ASK ABOUT THIS PROPERTY

Jason TuviaMarcus & MillichapMore Info
818-448-4415

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Jason TuviaMarcus & MillichapMore Info
818-448-4415

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