Prime location! 123 S. Westmoreland Avenue, a 16-unit multifamily asset located in the highly sought-after Koreatown Virgil Village neighborhood of Los Angeles. This property presents a rare opportunity for investors to acquire a value-add asset in one of the city's most dynamic rental markets. Situated just south of 1st Street,… Read More between Virgil Avenue and Vermont Avenue, the property occupies a 6,490 SF lot and benefits from excellent transit connectivity via the Vermont/Beverly Metro Stations, as well as numerous Metro Local Lines. The nearby Virgil Avenue corridor is a vibrant and growing hub, offering a diverse array of restaurants, coffee bars, retail shops, and entertainment options that appeal to both residents and visitors. The asset comprises a well-maintained, two-story apartment building totaling approximately 7,760 gross square feet, featuring 16 studio units, each with a private bathroom. Located within a Qualified Opportunity Zone, the property offers potential for significant tax incentives that may enhance long-term returns (Information regarding Qualified Opportunity Zones is provided for general reference only and does not constitute legal, tax, or financial advice. Buyer to perform buyer's own due diligence to verify all permits, SQFT, bedroom/bathroom count, school, and accuracy of all property related info. Read Less
Listing Snapshot
Days Online
129
Last Updated
Property Type
Other
Square Ft.
7,760
Lot Size
0.15 Acres
Year Built
1925
MLS Number
25537551
30 Days Snapshot Of 90004
$1.84M
-3%
(avg) sold price
7
-22%
homes sold
77
-16%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1925, Building area total: 7,760, 1 building
Community
Gated
Income
Net operating income: $131,510
Lot
0.1492 acres, 6,497 square feet, Size: 6,497
Property
Zoning: LAR3
Roof
Clay, Flat
Security Features
GatedCommunity
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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