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229 S Westlake Ave, Los Angeles, CA 90057
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229 S Westlake Ave Los Angeles, CA 90057

$2,150,000
  • 0 Beds
  • 12 Baths
  • 6,150 Sq.Ft.
For Sale
$2,150,000 Get Pre-Qualified
Map preview of 229 S Westlake Ave, Los Angeles, CA 90057

Property Overview: 229 S Westlake Ave Los Angeles, CA has -- bedrooms, 12 bathrooms, 6,150 living square feet and 6,272 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: 229 South Westlake Avenue is a well-maintained Twelve (12) Unit, 1920s architectural building located in the heart of the North Westlake / Historic Filipinotown community and within a short distance of Silver Lake and Echo Park. 229 South Westlake Avenue is ideally located with immediate access to the neighboring communities of DTLA/Financial District (1.4 miles), Echo Park (1 mile), and Silver Lake (1 mile), which provides ample employment opportunities and world-class entertainment venues. The Walk Score is 94, deemed "Very Walkable." 229 South Westlake Avenue, built in 1926, consists of 6,150 SF of improvements on a 6,272 square-foot parcel and a unit composition of Twelve (12) spacious apartments. Each unit features generously sized main rooms, full kitchens with dining spaces, and full baths with much of the original 1920s character restored. The building amenities include a gated and controlled access entry, street parking, common area laundry, and a massive rear yard for tenant enjoyment. The offering offers investors a unique opportunity to acquire an easy-to-operate cash-flow property with meaningful long-term rent appreciation. The offering provides significant long-term rental upside since the average rent for a studio apartment in Los Angeles in May 2023 was $1,997 per RentoMeter's statistics and trends report.

Listed by Nick Astrupgaard | BRE #01893466 | KW Commercial Studio City
Co-listed by Rich Johns | BRE #01432215 | KW Commercial Studio City
Last checked: 13 minutes ago | Last updated: April 5th, 2024 | Source CRMLS | DOM: 90
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Home details

Lot Sq. Ft
6,272
HOA Dues
$0/mo
Year built
1926
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24355605
City
Los Angeles
County
Los Angeles
Time on Site
100 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 12
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 12
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,375
  • Total Rent: $16,442
  • Pro Forma/Market Rent: $20,100
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.4%
  • Gross Rent Multiplier: 10.6
  • Gross Scheduled Income: --
  • Net Operating Income: $138,324
  • Gross Operating Income: $198,685
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 229 S Westlake Ave

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Property Details for 229 S Westlake Ave

Interior Features
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Multi/Split
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Street
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 12
  • Parcel Number: 5154005003
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Excellent location in Westlake North / Historic Filipino Town
View more facts & features

Local Los Angeles Agent

Sale History for 229 S Westlake Ave

Last sold on September 25th, 2007

  • February, 2024

  • Feb 6, 2024

    Date

    Active

    CRMLS: 24355605

    $2,150,000

    Price

  • September, 2007

  • Sep 25, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • April, 2007

  • Apr 9, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 229 S Westlake Ave

Assessed Value (2020): $950,438
Year Land Value Improved Value Assessed Value
2020 $759,058 $191,380 $950,438

Home Value Compared to the Market

This property vs the competition

229 S Westlake Ave is listed 72.14% 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 $774 and this home is listed at $349.59 per/sqft which puts the price per square foot 54.83% lower than the median price per square foot for the city of Los Angeles.

About 229 S Westlake Ave

Detailed summary of property

229 S Westlake Ave is a multi family located in Los Angeles, CA 90057 and is currently for sale. This multi family property offers -- bedrooms, 12 bathrooms, roughly 6,150 living square feet, and sits on an approximately 6,272 square foot lot. 229 S Westlake Ave was first listed on ArdentRealEstateGroup.com on February 6, 2024. The homeowner is currently asking $2,150,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 72.14% higher than the median priced home. Local competing homes currently for sale include 1917 Clinton St, 1917 Clinton St and 907 Glendale Blvd. While the average home in Los Angeles, CA is selling in 94 days, 229 S Westlake Ave has a days on market of 90 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 229 S Westlake Ave Los Angeles, CA 90057 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 229 S Westlake Ave

Public county record property details
Beds
--
Baths
12
Year built
1926
Sq. Ft.
6,150
Lot Size
6,271
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
2
APN
5154-005-003

The source for these homes facts are from public records.

90057 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$649,000
Median List Price/Sq.Ft.
$538
Median Sold Price
$365,000
Median Sold Price/Sq.Ft.
$773
Total Inventory
13
Median Sale to List Price %
104.58%
Avg Days on Market
15
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), 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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