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132 S Westmoreland Ave, Los Angeles, CA 90004
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132 S Westmoreland Ave Los Angeles, CA 90004

$3,595,000
  • 5 Beds
  • 20 Baths
  • 10,640 Sq.Ft.
For Sale
$3,595,000 Get Pre-Qualified
Map preview of 132 S Westmoreland Ave, Los Angeles, CA 90004

Property Overview: 132 S Westmoreland Ave Los Angeles, CA has 5 bedrooms, 20 bathrooms, 10,640 living square feet and 7,929 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: 132 S Westmoreland Ave is a 20-unit multifamily investment opportunity in the Koreatown neighborhood of Los Angeles located just south of 1st St between Virgil Ave and Vermont Ave. The property features a unit mix of 15 singles and 5 one-bedrooms; four singles will be delivered vacant; renovated units include new cabinetry, vinyl-plank flooring, stainless-steel appliances, tile bathrooms, and new paint's; ownership has spent $544k on interior unit renovations since 2021. At the asking price, the property is being offered at a 5.19% CAP rate and 10.52 GRM on current income with an additional 21% rental upside achievable as units turn through continued interior renovations. There is significant additional income with RUBS in place, as well as internet service. The property has a secured, gated entrance with intercom access; electricity is also separately metered. High Walk Score of 90, the property is close to the Metro B & D Rail Lines, and multiple Metro Local Lines along Beverly Blvd, Vermont Ave, and 3rd St. The property is ideally located with a short commute to Westlake, Hollywood, Echo Park, and Downtown Los Angeles

Listed by Neema Ahadian | BRE #01346750 | Marcus & Millichap
Last checked: 15 minutes ago | Last updated: July 2nd, 2024 | Source CRMLS | DOM: 18
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Home details

Lot Sq. Ft
7,929
HOA Dues
$0/mo
Year built
1925
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24409071
City
Los Angeles
County
Los Angeles
Time on Site
3 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 20
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 15
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,243
  • Total Rent: $18,642
  • Pro Forma/Market Rent: $23,250
Unit Breakdown 2
  • # of Units: 5
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,547
  • Total Rent: $7,737
  • Pro Forma/Market Rent: $9,250
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 10.52
  • Gross Scheduled Income: --
  • Net Operating Income: $186,674
  • Gross Operating Income: $324,683
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 132 S Westmoreland Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • No Heating
  • None
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 20
  • Parcel Number: 5501016008
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Located in the Koreatown neighborhood ofLos Angeles located just south of 1st St between Virgil Ave and Vermont Ave
View more facts & features

Local Los Angeles Agent

Sale History for 132 S Westmoreland Ave

Last sold on November 27th, 2019

  • June, 2024

  • Jun 17, 2024

    Date

    Active

    CRMLS: 24409071

    $3,595,000

    Price

  • November, 2019

  • Nov 27, 2019

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • April, 2016

  • Apr 28, 2016

    Date

    Sold (Public Records)

    Public Records

    $2,050,000

    Price

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Tax History for 132 S Westmoreland Ave

Assessed Value (2020): $2,218,983
Year Land Value Improved Value Assessed Value
2020 $920,066 $1,298,917 $2,218,983

Home Value Compared to the Market

This property vs the competition

132 S Westmoreland Ave is listed 199.58% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $772 and this home is listed at $337.88 per/sqft which puts the price per square foot 56.23% lower than the median price per square foot for the city of Los Angeles.

About 132 S Westmoreland Ave

Detailed summary of property

132 S Westmoreland Ave is a multi family located in Los Angeles, CA 90004 and is currently for sale. This multi family property offers 5 bedrooms, 20 bathrooms, roughly 10,640 living square feet, and sits on an approximately 7,929 square foot lot. 132 S Westmoreland Ave was first listed on ArdentRealEstateGroup.com on July 2, 2024. The homeowner is currently asking $3,595,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $772. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 199.58% higher than the median priced home. Local competing homes currently for sale include 756 S New Hampshire Ave, 743 S Berendo St and 830 S Hoover St. While the average home in Los Angeles, CA is selling in 100 days, 132 S Westmoreland Ave has a days on market of 18 days. There are currently 3938 homes for sale in the Los Angeles real estate market and 2648 of them are single family homes while 1176 of them are condos and 106 are townhomes. For more information on this home for sale at 132 S Westmoreland Ave Los Angeles, CA 90004 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 132 S Westmoreland Ave

Public county record property details
Beds
4
Baths
20
Year built
1925
Sq. Ft.
10,640
Lot Size
7,926
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
11
APN
5501-016-008

The source for these homes facts are from public records.

90004 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,195,000
Median List Price/Sq.Ft.
$764
Median Sold Price
$2,215,000
Median Sold Price/Sq.Ft.
$919
Total Inventory
68
Median Sale to List Price %
110.81%
Avg Days on Market
24
Loan Type
Conventional (7.69%), FHA (0%), VA (0%), Cash (15.38%), Other (0%)

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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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