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1035 S Westmoreland Ave, Los Angeles, CA 90006
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1035 S Westmoreland Ave Los Angeles, CA 90006

$5,975,000 Sold Price as of 11/05/2021
  • 20 Beds
  • 28 Baths
  • 20,730 Sq.Ft.
Sold
$5,975,000 Sold Price as of 11/05/2021 Refinance Your Mortgage
Map preview of 1035 S Westmoreland Ave, Los Angeles, CA 90006

Property Overview: 1035 S Westmoreland Ave Los Angeles, CA has 20 bedrooms, 28 bathrooms, 20,730 living square feet and 30,016 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Courtyard Style Apartments with over 40% upside in rents! We are proud to present this 28 unit apartment community in the Pico-Union/Koreatown neighborhood of Los Angeles . The subject property has a varied unit mix and is only two blocks away from the intersection of Olympic Blvd and Vermont Ave. The building is a spacious 20,730 Sq. Ft. on an enormous 30,016 Sq. Ft. lot zoned LAR4. The large amount of land provides investors with potential development opportunities. On-site parking is accessed off of 11th St. There are 16 covered parking spaces and additional room for uncovered parking. Buyer to verify all information. Drive by only, do not disturb the tenants!

Listed by Michael R. Fukushima | BRE #01380445 | Keller Williams Downtown LA
Co-listed by Stephen F. Watson | BRE #01187813 | Keller Williams Downtown LA
Last checked: 12 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 24

Home details

Lot Sq. Ft
30,016
HOA Dues
$0/mo
Year built
1941
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21769914
City
Los Angeles
County
Los Angeles
Time on Site
1003 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 28
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 12
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $952
  • Total Rent: $11,119
  • Pro Forma/Market Rent: $15,600
Unit Breakdown 2
  • # of Units: 12
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,252
  • Total Rent: $15,029
  • Pro Forma/Market Rent: $20,400
Unit Breakdown 3
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,449
  • Total Rent: $5,794
  • Pro Forma/Market Rent: $9,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 15.5
  • Gross Scheduled Income: --
  • Net Operating Income: $173,159
  • Gross Operating Income: $387,103
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 1035 S Westmoreland Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Interior Features
  • Security Features: Gated Community, Resident Manager
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 16
  • Has Parking
  • Parking Features: Detached Carport
Property Information
  • Has View
  • View: Courtyard
  • Total # of Units: 28
  • Parcel Number: 5076009004
Location / Neighborhood
Location Information
  • Directions: From Downtown LA head West on W Olympic Blvd. At the intersection of W Olympic Blvd & S. Westmoreland Ave. head South. Subject property is located on the North West corner of the intersection of S. Westmoreland Ave and W. 11th St.
View more facts & features

Local Los Angeles Agent

Sale History for 1035 S Westmoreland Ave

Last sold for $5,975,000 on November 5th, 2021

  • September, 2021

  • Sep 14, 2021

    Date

    Pending

    CRMLS: 21769914

    $6,000,000

    Price

  • Aug 20, 2021

    Date

    Active

    CRMLS: 21769914

    $6,000,000

    Price

  • Aug 6, 2021

    Date

    Pending

    CRMLS: 21769914

    $6,000,000

    Price

  • January, 2013

  • Jan 8, 2013

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • January, 2007

  • Jan 8, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 1035 S Westmoreland Ave

Assessed Value (2020): $474,652
Year Land Value Improved Value Assessed Value
2020 $162,511 $312,141 $474,652

Home Value Compared to the Market

This property vs the competition

1035 S Westmoreland Ave sold on November 5, 2021 for 404.2% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $289.44 per/sqft which puts the price per square foot 61.66% lower than the current median sale per square foot for the city of Los Angeles.

About 1035 S Westmoreland Ave

Detailed summary of property

1035 S Westmoreland Ave is a multi family that recently sold in Los Angeles, CA 90006. This multi family property offered 20 bedrooms, 28 bathrooms, roughly 20,730 living square feet, and sits on an approximately 30,016 square foot lot. 1035 S Westmoreland Ave was first listed on ArdentRealEstateGroup.com on August 6, 2021. The homeowner sold the property for $5,975,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 404.2% higher than the current median priced home. Local homes that are currently for sale include 526 W 47th St, 5314 Loma Linda Ave and 5322 Loma Linda Ave. While the average home in Los Angeles, CA is selling in 96 days, 1035 S Westmoreland Ave has a days on market of 24 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 1035 S Westmoreland Ave Los Angeles, CA 90006 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1035 S Westmoreland Ave

Public county record property details
Beds
20
Baths
28
Year built
1941
Sq. Ft.
20,730
Lot Size
30,015
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
41
APN
5076-009-004

The source for these homes facts are from public records.

90006 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$799,000
Median List Price/Sq.Ft.
$611
Median Sold Price
$690,000
Median Sold Price/Sq.Ft.
$600
Total Inventory
36
Median Sale to List Price %
98.71%
Avg Days on Market
36
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (33.33%), Other (0%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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