1751 Westmoreland Boulevard

1751 Westmoreland Blvd, Los Angeles, CA 90006, USA

For Sale

$2,550,000

Property Description

Marcus and Millichap is pleased to present a twelve (12) unit apartment building located at 1751-1773 Westmoreland Boulevard in Los Angeles, California. The subject property is situated in a good Mid City location, north of West Washington Boulevard and east of South Western Avenue.

Mid City is a diverse, quiet neighborhood in the center of Los Angeles. While more affordable than some of its neighbors to the north, this neighborhood continues to experience rapid rates of gentrification. Pico Blvd forms the neighborhoods northern border and is lined with restaurants, cafes and bakeries. Residents of the subject property enjoy the dominant access to commercial corridors on nearby W Washington Blvd, S Western Ave, and Venice Blvd. Tenants can walk one (1) block south to W Washington Blvd to visit Castillo’s Burgers, Lucy Ethiopian, Ray Charles Memorial Library, Botanica Coral, and Pan Victoria 2 takeout. Residents can also walk two (2) blocks west to S Western Ave to visit WaBa Grill, Alejo’s Tacos, Shoe Palace, Angelino’s Pizza, Winchell’s Donuts, and Western Plaza Shopping Center. If tenants walk north to Venice Blvd, they can visit Alibi Coffee Co, Beto’s Market, Latino Market, El Salsabor Pupusas takeout, and Tacos Locos. Currently, this area has a walk score of 77 but the Los Angeles Metro is currently expanding into the area to make it more commuter friendly. The new Crenshaw/LAX line from north-south is proposed to serve this area.

Built in 1923, this offering contains a streamlined unit mix of twelve (12) two-bedroom/one-bathroom units. Each unit is spacious with plenty of windows letting in natural light. All of the units are divided between three (3) large buildings on a 14,500 SF double lot. The buildings boast an Old Hollywood aesthetic with an inviting green courtyard greeting residents and visitors alike. Along with the central greenery, the gated property features a mature landscape and a private space for the tenants to enjoy. The property features dual entrance and exits to the units, as well as on-site parking in the rear.

Situated in a good Mid City location, this offering presents an excellent opportunity for an astute investor to capitalize on huge rental upside potential in a gentrifying market adjacent to Koreatown.

Contact Agent

Jason Tuvia

(818) 212-2735

Unit Mix

Twelve (12) 2 Bedroom / 1 Bathroom Units

Property Type

Multifamily

Submarket

Price

Size

9,888 SF

Total Units

Year Built

1923

Property Location

1751 Westmoreland Blvd, Los Angeles, CA 90006, USA

Property Description

Marcus and Millichap is pleased to present a twelve (12) unit apartment building located at 1751-1773 Westmoreland Boulevard in Los Angeles, California. The subject property is situated in a good Mid City location, north of West Washington Boulevard and east of South Western Avenue.

Mid City is a diverse, quiet neighborhood in the center of Los Angeles. While more affordable than some of its neighbors to the north, this neighborhood continues to experience rapid rates of gentrification. Pico Blvd forms the neighborhoods northern border and is lined with restaurants, cafes and bakeries. Residents of the subject property enjoy the dominant access to commercial corridors on nearby W Washington Blvd, S Western Ave, and Venice Blvd. Tenants can walk one (1) block south to W Washington Blvd to visit Castillo’s Burgers, Lucy Ethiopian, Ray Charles Memorial Library, Botanica Coral, and Pan Victoria 2 takeout. Residents can also walk two (2) blocks west to S Western Ave to visit WaBa Grill, Alejo’s Tacos, Shoe Palace, Angelino’s Pizza, Winchell’s Donuts, and Western Plaza Shopping Center. If tenants walk north to Venice Blvd, they can visit Alibi Coffee Co, Beto’s Market, Latino Market, El Salsabor Pupusas takeout, and Tacos Locos. Currently, this area has a walk score of 77 but the Los Angeles Metro is currently expanding into the area to make it more commuter friendly. The new Crenshaw/LAX line from north-south is proposed to serve this area.

Built in 1923, this offering contains a streamlined unit mix of twelve (12) two-bedroom/one-bathroom units. Each unit is spacious with plenty of windows letting in natural light. All of the units are divided between three (3) large buildings on a 14,500 SF double lot. The buildings boast an Old Hollywood aesthetic with an inviting green courtyard greeting residents and visitors alike. Along with the central greenery, the gated property features a mature landscape and a private space for the tenants to enjoy. The property features dual entrance and exits to the units, as well as on-site parking in the rear.

Situated in a good Mid City location, this offering presents an excellent opportunity for an astute investor to capitalize on huge rental upside potential in a gentrifying market adjacent to Koreatown.

Contact Agent

Jason Tuvia

(818) 212-2735

(818) 448-4415

CalBRE #01772495

Unit Mix

Twelve (12) 2 Bedroom / 1 Bathroom Units

Property Details

Property Type

Multifamily

Submarket

Mid City

Price

$2,550,000

Price per Unit

$212,500

Price per SF

$257.89

Status

For Sale

Size

9,888 SF

Total Units

12

Year Built

1923

Property Location

1751 Westmoreland Blvd, Los Angeles, CA 90006, USA