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1400 S Westmoreland Ave, Los Angeles, CA 90006
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1400 S Westmoreland Ave Los Angeles, CA 90006

$1,469,000
  • 20 Beds
  • 15 Baths
  • 4,614 Sq.Ft.
For Sale
$1,469,000 Get Pre-Qualified
Map preview of 1400 S Westmoreland Ave, Los Angeles, CA 90006

Property Overview: 1400 S Westmoreland Ave Los Angeles, CA has 20 bedrooms, 15 bathrooms, 4,614 living square feet and 6,764 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: Excellent Well Maintained 5-unit income property on high demand rental area. Two separate wood frame stucco buildings are located in the Mid-Wilshire area. Front Building = 4 units built in 1913 and consists of 4 very spacious One Bedroom/One Bathroom Units averaging over 900 SF each. Back Building= 1 unit ( DetachedSingle-Family-Residence), a large 2bed+1bath unit is built on the backside built-in 1995 as per ZIMAS. Tenants pay their own utility for Gas and Electric that are individually metered. On-site parking is available with four garages, the total can be 8. . Westmoreland has many upgrades which will reduce the cost of ownership including updated electrical, majority of new copper plumbing, new drain lines, and new paint. Property sold as-is condition. The desirable area rapidly growing in value with walkable post office, eats, K-Town, USC, DTLA, entertainment centers. Value-added opportunity to own your first income unit or for your next successful income-generating portfolio. Please Call L.A for more Info.

Listed by Seong Kelly Chong | BRE #01273557 | Dream Realty & Investments Inc
Last checked: 6 minutes ago | Last updated: March 23rd, 2024 | Source CRMLS | DOM: 95
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Home details

Lot Sq. Ft
6,764
HOA Dues
$0/mo
Year built
1995
Garage
4 Car
Property Type:
Multi Family
Status
Active
MLS#
24369325
City
Los Angeles
County
Los Angeles
Time on Site
109 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,655
  • Total Rent: $1,655
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,582
  • Total Rent: $1,582
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 3
  • # of Units: 5
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,273
  • Total Rent: $1,273
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 4
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,583
  • Total Rent: $1,582
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 5
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,243
  • Total Rent: $1,243
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 6
  • # of Units: 0
  • # of Beds: 0
  • # of Baths: 0
  • Furnishing: Unfurnished
  • Actual Rent: $200
  • Total Rent: $200
  • Pro Forma/Market Rent: $300
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.39%
  • Gross Rent Multiplier: 16.24
  • Gross Scheduled Income: --
  • Net Operating Income: $64,582
  • Gross Operating Income: $90,432
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 1400 S Westmoreland Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two, One
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 8
  • Has Parking
  • Parking Features: Uncovered, Garage
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 5
  • Parcel Number: 5056003007
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: EAST OF VERMONT / BETWEEN PICO AND VENICE
View more facts & features

Local Los Angeles Agent

Sale History for 1400 S Westmoreland Ave

Last sold for $1,190,000 on April 3rd, 2020

  • March, 2024

  • Mar 15, 2024

    Date

    Active

    CRMLS: 24369325

    $1,469,000

    Price

  • September, 2023

  • Sep 1, 2023

    Date

    Expired

    CRMLS: 23239857

    $1,469,000

    Price

  • Feb 7, 2023

    Date

    Active

    CRMLS: 23239857

    $1,399,000

    Price

  • Listing provided courtesy of CRMLS

  • January, 2023

  • Jan 3, 2023

    Date

    Canceled

    CRMLS: 22114931

    $1,499,000

    Price

  • Jan 3, 2022

    Date

    Active

    CRMLS: 22114931

    $1,479,000

    Price

  • Listing provided courtesy of CRMLS

  • December, 2020

  • Dec 11, 2020

    Date

    Active

    CRMLS: SR20255743

    $1,652,000

    Price

  • Listing provided courtesy of CRMLS

    Excellent 5-unit income property on high demand rental area. 2 separate buildings onsite. 4 units built on front consist of 4 - 1bed+1bath. 1 large 2bed+1bath unit is built on the backside (almost 900sf, built in 1995). Tenants paying their own utility for Gas and Electric that are individually metered. On site parking available with garage, 2 of which can be sold separately for an additional income (currently unused). Also has basement with small utility area. Conveniently located near multiple shops, eats, DTLA, Hollywood, parks, entertainment centers. Value-added opportunity to own your first income unit or for your next successful income generating portfolio. Make an easy appointment today and see more features of this home.

  • April, 2020

  • Apr 4, 2020

    Date

    Sold

    CRMLS: 19529274

    $1,190,000

    Price

  • Feb 20, 2020

    Date

    Active Under Contract

    CRMLS: 19529274

    $1,210,000

    Price

  • Jan 11, 2020

    Date

    Price Change

    CRMLS: 19529274

    $1,210,000

    Price

  • Nov 12, 2019

    Date

    Active

    CRMLS: 19529274

    $1,299,000

    Price

  • Listing provided courtesy of CRMLS

    5 Large Units located at 1400-1402 1/2 S. Westmoreland Ave and 1401 S Orchard Ave in Los Angeles. Well Maintained Property, Excellent Rental Location - close to redeveloping Downtown LA, USC and Koreatown! Freeway and Transit close! Individually metered for Gas and Electric. Westmoreland has many upgrades which will reduce the cost of ownership including updated electrical, majority new cooper plumbing, new drain lines and newer roof. Property consists of 5 units - (4) Four (1) One Bedroom and (1) Bath Units (1913 Construction) and (1) One - 2 Bedroom + 1 Bath Unit (1995 Construction). Very Strong cash flow with approximately 20% upside in rents! There is on-site parking and garages which is an added amenity for tenants. The property boast a walkscore of 88 as it is within walking distance of restaurants, post office, shopping and major public/transit access.

  • April, 2020

  • Apr 3, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,190,000

    Price

  • October, 2019

  • Oct 25, 2019

    Date

    Expired

    CRMLS: 19458934

    $1,300,000

    Price

  • Jun 25, 2019

    Date

    Price Change

    CRMLS: 19458934

    $1,300,000

    Price

  • Apr 25, 2019

    Date

    Active

    CRMLS: 19458934

    $1,495,000

    Price

  • Listing provided courtesy of CRMLS

    Price just dropped $195,000 below selling price.!!!Great Opportunity!!! Unique 5-unit Rental income apartment property in one of the hottest places near K-Town, USC and DTLA. Updated ELECTRICAL AND PLUMBING DRAIN PIPE, CUPPER WATER LINE (except 2 units.) The property boasts single family home in the rear (rebuilt 1995, 2 br/1ba) with two detached buildings: front 2 story building with 4 units (2 br/1 bat & 1.5 ba) side by side on 6764 SQ FT LOT. Desirable area rapidly growing in value with walkable post office, restaurants, shopping, & public transportation. Easy access to the 10 FWY and 110 FWY, which connects to all other major freeways. You'll be pleasantly surprised by this area and property...and the ease by which you can make it "home."Property sold as is condition.

  • April, 2019

  • Apr 20, 2019

    Date

    Canceled

    CRMLS: 18409236

    $1,320,000

    Price

  • Apr 17, 2019

    Date

    Active

    CRMLS: 18409236

    $1,320,000

    Price

  • Apr 16, 2019

    Date

    Hold

    CRMLS: 18409236

    $1,320,000

    Price

  • Jan 8, 2019

    Date

    Price Change

    CRMLS: 18409236

    $1,320,000

    Price

  • Nov 19, 2018

    Date

    Active

    CRMLS: 18409236

    $1,500,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to present the 1400 S Westmoreland Ave Apartments - a 5 unit multifamily investment opportunity made up of two separate wood frame stucco buildings located in the Mid-Wilshire area of Los Angeles.The first building is 4-Plex that was built in 1913 and consists of 4 very spacious One Bedroom/One Bathroom Units averaging over 900 SF each. Additionally, this property also includes a detached Single-Family-Residence that was constructed in 1995 and is 890 SF as per ZIMAS. The combined buildings consist of a total of 4,614 SF of living space situated on a 6,763 SF lot zoned RD1.5. All units have hardwood floors and are separately metered for gas and electricity, and there are four garage spaces in the rear of the building. With extreme upside in current rents, this property provides an excellent opportunity for an investor to increase rental income through a more aggressive management style and renovation program.

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Tax History for 1400 S Westmoreland Ave

Assessed Value (2020): $462,087
Year Land Value Improved Value Assessed Value
2020 $336,440 $125,647 $462,087

Home Value Compared to the Market

This property vs the competition

1400 S Westmoreland Ave is listed 22.42% 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 $318.38 per/sqft which puts the price per square foot 58.76% lower than the median price per square foot for the city of Los Angeles.

About 1400 S Westmoreland Ave

Detailed summary of property

1400 S Westmoreland Ave is a multi family located in Los Angeles, CA 90006 and is currently for sale. This multi family property offers 20 bedrooms, 15 bathrooms, roughly 4,614 living square feet, and sits on an approximately 6,764 square foot lot. 1400 S Westmoreland Ave was first listed on ArdentRealEstateGroup.com on March 15, 2024. The homeowner is currently asking $1,469,000. 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 22.42% higher than the median priced home. Local competing homes currently for sale include 1230 S Bonnie Brae St, 1147 Fedora St and 1102 W 18th St. While the average home in Los Angeles, CA is selling in 100 days, 1400 S Westmoreland Ave has a days on market of 95 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 1400 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 1400 S Westmoreland Ave

Public county record property details
Beds
6
Baths
5
Year built
1995
Sq. Ft.
4,614
Lot Size
6,763
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
8
APN
5056-003-007

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.
$604
Median Sold Price
$299,000
Median Sold Price/Sq.Ft.
$650
Total Inventory
45
Median Sale to List Price %
100%
Avg Days on Market
13
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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Recently Sold Homes Near 1400 S Westmoreland Ave

1409 S Westmoreland Ave, Los Angeles, CA 90006
$935,000 Last Sold Price
7 Beds
4 Baths
3121 Sq.Ft.
1409 S Westmoreland Ave
Los Angeles, CA 90006
1411 Orchard Ave, Los Angeles, CA 90006
$1,600,000 Last Sold Price
9 Beds
5 Baths
4337 Sq.Ft.
1411 Orchard Ave
Los Angeles, CA 90006
1421 S Westmoreland Ave, Los Angeles, CA 90006
$3,000,000 Last Sold Price
7 Beds
18 Baths
9834 Sq.Ft.
1421 S Westmoreland Ave
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1330 Menlo Ave, Los Angeles, CA 90006
$800,000 Last Sold Price
3 Beds
3 Baths
2128 Sq.Ft.
1330 Menlo Ave
Los Angeles, CA 90006

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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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