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

$3,300,000
  • 13 Beds
  • 11 Baths
  • 7,391 Sq.Ft.
For Sale
$3,300,000 Get Pre-Qualified
Map preview of 1256 S Westgate Ave, Los Angeles, CA 90025

Property Overview: 1256 S Westgate Ave Los Angeles, CA has 13 bedrooms, 11 bathrooms, 7,391 living square feet and 7,204 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are 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. LA's Westside has continued to prove to be one of the, if not the best, rental pockets in all of Los Angeles. With continued rent growth and low vacancy rates renters continue to seek out opportunities in the immediate area surrounding the subject property. With Santa Monica directly to the west, Brentwood directly to the north and Westwood just a short distance to the east, the property is strategically positioned. Area amenities include high end restaurants, bars and nightlife along with shopping and a robust office market making it a perennial economic hub in Southern California. The location and rental upside make this an opportunity to own a generational asset in one of LA's best neighborhoods.

Listed by Peter James | BRE #01748556 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by William James | BRE #01734419 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 10 minutes ago | Last updated: March 12th, 2024 | Source CRMLS | DOM: 84
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Home details

Lot Sq. Ft
7,204
HOA Dues
$0/mo
Year built
1960
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24351003
City
Los Angeles
County
Los Angeles
Time on Site
94 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 10
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,373
  • Total Rent: $2,746
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 2
  • # of Units: 7
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,541
  • Total Rent: $10,787
  • Pro Forma/Market Rent: $2,295
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $627
  • Total Rent: $627
  • Pro Forma/Market Rent: $2,850
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 2.74%
  • Gross Rent Multiplier: 19.42
  • Gross Scheduled Income: --
  • Net Operating Income: $90,349
  • Gross Operating Income: $170,495
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 1256 S Westgate Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included, Community
Fireplace Information
  • No Fireplace
  • None
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Levels: Two
  • Security Features: Smoke Detector(s), Carbon Monoxide Detector(s)
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 10
  • Has Parking
  • Parking Features: Covered, Side by Side, Parking Space
Lot Information
  • Lot Features: Rectangular Lot
Property Information
  • Has View
  • View: City Lights
  • Total # of Units: 10
  • Parcel Number: 4263007025
  • Architectural Style: Mid Century Modern
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Other
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Westgate Ave south of Wilshire Blvd north of Texas Ave
View more facts & features

Local Los Angeles Agent

Sale History for 1256 S Westgate Ave

Last sold on September 14th, 2007

  • January, 2024

  • Jan 23, 2024

    Date

    Active

    CRMLS: 24351003

    $3,600,000

    Price

  • September, 2007

  • Sep 14, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 1256 S Westgate Ave

Assessed Value (2020): $791,271
Year Land Value Improved Value Assessed Value
2020 $483,709 $307,562 $791,271

Home Value Compared to the Market

This property vs the competition

1256 S Westgate Ave is listed 164.21% higher than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $772 and this home is listed at $446.49 per/sqft which puts the price per square foot 42.16% lower than the median price per square foot for the city of Los Angeles.

About 1256 S Westgate Ave

Detailed summary of property

1256 S Westgate Ave is a multi family located in Los Angeles, CA 90025 and is currently for sale. This multi family property offers 13 bedrooms, 11 bathrooms, roughly 7,391 living square feet, and sits on an approximately 7,204 square foot lot. 1256 S Westgate Ave was first listed on ArdentRealEstateGroup.com on January 23, 2024. The homeowner is currently asking $3,300,000 and was originally asking $3,600,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $772. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 164.21% higher than the median priced home. Local competing homes currently for sale include 3758 Inglewood Blvd, 12028 Venice Blvd and 3344 Keystone Ave. While the average home in Los Angeles, CA is selling in 97 days, 1256 S Westgate Ave has a days on market of 84 days. There are currently 3429 homes for sale in the Los Angeles real estate market and 2324 of them are single family homes while 1008 of them are condos and 91 are townhomes. For more information on this home for sale at 1256 S Westgate Ave Los Angeles, CA 90025 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1256 S Westgate Ave

Public county record property details
Beds
13
Baths
11
Year built
1960
Sq. Ft.
7,391
Lot Size
7,201
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
23
APN
4263-007-025

The source for these homes facts are from public records.

90025 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,199,000
Median List Price/Sq.Ft.
$767
Median Sold Price
$1,250,000
Median Sold Price/Sq.Ft.
$733
Total Inventory
104
Median Sale to List Price %
96.53%
Avg Days on Market
25
Loan Type
Conventional (20%), FHA (0%), VA (0%), Cash (6.67%), Other (6.67%)

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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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