33-Unit Apartment
138 S Westmoreland Ave, Los Angeles, CA 90004
For Sale
$3,400,000
The unit mix comprises studio apartments and two one-bedroom residences.
Property Size18,604 SF
Lot Size0.18 Acres
Price / SF$182.76
Days on Market69
Property Features for 138 S Westmoreland Ave
General Information
Standard status
Size
Lot size
Property subtype
Financials
Asking Price
Cap Rate
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Listing Agency:
Lyon Stahl Investment Real Estate, Inc.
Listed By:
Taylor Avakian · License CA #02060040
(916) 996-4421
Source:
Carolinakramer
Added: Sep 8
Changed: Oct 31
Last Checked: Nov 14 at 12:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lyon Stahl Investment Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 33-unit apartment property was built in 1926 and contains 18,604 square feet on a 7,922-square-foot lot. Its layout includes 31 studios averaging 445 square feet and two one-bedroom units, each measuring 625 square feet. Twenty-eight apartments are occupied, and 21 of those rent below market.
The property is in Rampart Village, near the northern edge of Koreatown, and within walking distance of the Metro B Line. The current cap rate is 6.30%.
The property is in Rampart Village, near the northern edge of Koreatown, and within walking distance of the Metro B Line. The current cap rate is 6.30%.
Key Highlights
- 33 apartments: 31 studios averaging 445 SF and two one‑bedroom units at 625 SF each
- 18,604 SF building on a 7,922 SF lot
- Built in 1926
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$299,353
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,987,060
$6.0M
Cap Rate 7%
$4,276,471
$4.3M
Cap Rate 9%
$3,326,144
$3.3M
Market Conditions
NOI Build-Up for 18,604 SF
Gross rent
$591.6K $31.80/SF
− Vacancy
−$47.3K −$2.54/SF
EGI
$544.3K $29.26/SF
− OpEx
−$244.9K −$13.17/SF
NOI
$299.4K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,987,060
Cap Rate 7%
$4,276,471
Cap Rate 9%
$3,326,144
Alternative Uses
Best Use
Apartment 5plus
$4.28M
$3.74M – $4.99M
NOI $299,353 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.77M
$6.80M – $9.06M
NOI $543,718 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
33
Residential units
Location Intelligence
Trade Area within ½ mile
2,960
Businesses Nearby
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Business Placement
Demographics for 90004, CA
58,585
Population
26,046
Households
2.2
Avg Household Size
37
Median Age
40%
College-Educated
78%
High-School Grad
3.1 sq mi
ZIP Area
18,898
Density / Sq Mi
$62,655
Median Household Income
$39,359
Median Earnings
$1,752
Median Rent
$1,457,200
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles, CA
Properties on Market for Apartment buildings in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix comprises studio apartments and two one-bedroom residences.
Where is this apartment building located?
The property is located at 138 S Westmoreland Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 33 apartments: 31 studios averaging 445 SF and two one‑bedroom units at 625 SF each; 18,604 SF building on a 7,922 SF lot; Built in 1926
