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$ 3,550,000
Est. payment /mo
New
730 S Westlake AVE Los Angeles, CA 90057
14 Beds
18 Baths
11,489 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 11,489 sqft
Price per Sqft $308
MLS Listing ID 26848135
Bedrooms 14
HOA Y/N No
Year Built 1988
Lot Size 7,492 Sqft
Property Description
An incredible investment opportunity priced at only $197,222/Unit. Built in 1988, this solid 18-unit building is entirely exempt from LA City RSO (No RSO, under CA AB1482 only), allowing investors to rapidly capture massive rental upside with a strong 9.64 GRM and 6.16% CAP Rate. The property features a desirable unit mix of 14 one-bedroom units and 4 studios and boasts significant upgrades including a brand-new tankless water heater system and a new CCTV camera system. The building offers tremendous value-add potential through strategic unit remodeling upon future turnover and extra income potential by reopening the unused on-site laundry room. Enjoy an exceptionally stable tenant base with over half of the residents staying for more than 10 years. Strategically located near Koreatown, the property sits at the epicenter of MacArthur Park's massive urban transformation. The park is undergoing a historic $30M+ revitalization, including a $2.5M grant project studying the permanent closure of Wilshire Blvd to unite the park into one massive green space, alongside major city-backed security enhancements and nightly closures for safety. Located near the approved Centro Westlake transit development with immediate access to the 10 and 110 freeways, this is perfect for investors seeking immediate, steady cash flow paired with explosive growth potential.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR4
Interior
Heating Natural Gas
Fireplace No
Exterior
Parking Features Underground
Total Parking Spaces 18
Building
Story 2
Entry Level Multi/Split
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5142003005
Special Listing Condition Standard
Listed by Sang (Brian) Ji Total Commercial, Inc. #01443223
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