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1116-1120 S Westmoreland Ave

Los Angeles, CA 90006
  • $3,500,000
  • STATUS: Active
  • ON SITE: 143 Days
  • ID#: 21-741990
UPDATED: 78 min ago
$3,500,000
  • 16
    BEDS
  • 0.45
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 13,950
    SQFT
  • $251
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1938
County:
Area:

School Ratings & Info

Description

Truly a rare opportunity for todays Investors, Builders, and Developers! Bring all offers. Rare and Unique Double Lot, to be sold together. Located near the major corridor to LA Live, Staples, Convention Center, Downtown LA, Korea Town and USC Campus, this outstanding Value-add opportunity is in a highly sought-after area where the supply rarely meets the demand! 1116 1122 S. Westmoreland Avenue is positioned in one of the most rapidly developing submarket communities in Los Angeles. A 16-unit apartment building located in prime Koreatown, this property is a renters paradise, conveniently located to various amenities including markets, restaurants, trendy bars, shopping, hotels, entertainment venues, museums and local transportation. Located in an State Opportunity Zone, an investor can upgrade to capture market rents and capitalize on the remaining rental upside. Please verify with the City of L.A. regarding Historical designation. Buyer to verify all information herein. Seller and Broker does not guarantee its accuracy.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-22T23:43:01.69. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.trulinerealty.com/homes/117790391
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1116-1120 S Westmoreland Ave Los Angeles, CA 90006

  • Price: $3,500,000
  • Status: Active
  • Updated: 78 min ago
  • ID#: 21-741990
16
Beds
0
Baths
0
½ Baths
0.45
Acres
13,950
SQFT
$251
$/SQFT
1938
Built
Neighborhood:
Mid-Wilshire
County:
Los Angeles
Area:
Mid-Wilshire
Property Description
Truly a rare opportunity for todays Investors, Builders, and Developers! Bring all offers. Rare and Unique Double Lot, to be sold together. Located near the major corridor to LA Live, Staples, Convention Center, Downtown LA, Korea Town and USC Campus, this outstanding Value-add opportunity is in a highly sought-after area where the supply rarely meets the demand! 1116 1122 S. Westmoreland Avenue is positioned in one of the most rapidly developing submarket communities in Los Angeles. A 16-unit apartment building located in prime Koreatown, this property is a renters paradise, conveniently located to various amenities including markets, restaurants, trendy bars, shopping, hotels, entertainment venues, museums and local transportation. Located in an State Opportunity Zone, an investor can upgrade to capture market rents and capitalize on the remaining rental upside. Please verify with the City of L.A. regarding Historical designation. Buyer to verify all information herein. Seller and Broker does not guarantee its accuracy.
Exterior Features

Cross Streets Between 11th St And Pico Bl Direction Faces West Levels Multi/Split Lot Description LawnLandscapedGuttersFront YardFenced YardFencedAlley Paved2-4 Lots Lot Location FlatsCityAlley AccessNear Public Transit Lot Size Area 19514 Other Structures None Parking Garage AssignedDetachedDoor OpenerDriveway Paved YN Yes Pool Description None Pool YN No Spa None Spa YN No Style French Tennis Court None Total Parking 8 View Description None View YN No Water Frontage None

Interior Features

Baths Total 16.00 Common Walls Attached Cooling None Equipment None Fireplace Rooms BathDiningElectricExteriorGasGreat RoomKitchenLiving RoomMaster Bedroom Foundation Details Raised Heating None Laundry None Water Heater Features Gas

Property Features

Alley YN Yes Assessed Total Value 1261000 Gross Income 0 Gross Operating Income 0 Like Units1 16 Net Operating Income 0.00 Number Of Buildings 2 Number Of Units 16 Property Condition Repairs MajorFixer Sale Type Standard Security Features None Sewer PaidIn Street Paid Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 0 Type Of Units 16 Water DistrictWater District Water Heaters YN Yes Year Built Source Other Zoning Lar4-Xl1

Listing provided courtesy of Frank Kim DRE#01890736 of Frank Kim.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-22T23:43:01.69. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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TruLine Realty
2999 Overland Ave., Suite 116
Los Angeles CA, 90064