34-Unit Apartment Building with
400 S Westlake Ave, Los Angeles, CA 90057
For Sale
$5,400,000
Three-story multifamily property with an elevator, secured parking, balconies, laundry facilities, and a completed seismic retrofit.
Property Size30,067 SF
Lot Size0.40 Acres
Days on Market94
Property Features for 400 S Westlake Ave
General Information
Standard status
Size
Elevators
Lot size
Property subtype
Site & Location
Neighborhood
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Amenities
swimming pool
private balconies
on-site laundry
Secured on-site parking, elevator, swimming pool, private balconies, and on-site laundry - far exceeds most comparable Westlake product.
A well-balanced mix of 22 one-bedrooms, nine two-bedrooms, and three singles.
The state-mandated SB 721 balcony inspection has been completed and cleared.
Minutes from Downtown's employment core and cultural draws—Grand Central Market, Little Tokyo, and Walt Disney Concert Hall.
A Walk Score of 94 ("Walker's Paradise") and Transit Score of 85—one block from MacArthur Park, steps from Langer's Delicatessen, with Metro B/D Lines
Held by the same ownership for nearly two decades and offered for sale for the first time in 18 years.
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Marcus & Millichap
Listed By:
Sean Rosenzweig
(213) 943-1897
Source:
Marcusmillichap
Added: Aug 8
Changed: Oct 26
Last Checked: Nov 8 at 2:13AM
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 Marcus & Millichap
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Investment Insights
Based on property information with market context.
This 34-unit apartment community occupies a 17,510-square-foot lot and was built in 1956. The three-story building includes 33 standard apartments and one ADU, with a mix of 22 one-bedroom units, nine two-bedroom units, and three singles. Property features include an elevator, swimming pool, private balconies, secured on-site parking, and on-site laundry. The soft-story seismic retrofit is complete, and the City-approved cost-recovery surcharge has been implemented. The SB 721 balcony inspection has also been completed and cleared.
The property is located in Los Angeles’ Westlake neighborhood, one block from MacArthur Park and directly west of Downtown. The Metro B and D Lines and the 101 and 110 Freeways provide access to Downtown’s employment and cultural districts, including Grand Central Market, Little Tokyo, and Walt Disney Concert Hall. Approximately 19% rental upside remains, according to the property information.
The property is located in Los Angeles’ Westlake neighborhood, one block from MacArthur Park and directly west of Downtown. The Metro B and D Lines and the 101 and 110 Freeways provide access to Downtown’s employment and cultural districts, including Grand Central Market, Little Tokyo, and Walt Disney Concert Hall. Approximately 19% rental upside remains, according to the property information.
Key Highlights
- 34 units: 33 apartments plus 1 ADU
- 22 one‑bedrooms, nine two‑bedrooms, and three singles
- Three‑story building constructed in 1956 on a 17,510‑square‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$483,802
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,676,040
$9.7M
Cap Rate 7%
$6,911,457
$6.9M
Cap Rate 9%
$5,375,578
$5.4M
Market Conditions
NOI Build-Up for 30,067 SF
Gross rent
$956.1K $31.80/SF
− Vacancy
−$76.5K −$2.54/SF
EGI
$879.6K $29.26/SF
− OpEx
−$395.8K −$13.17/SF
NOI
$483.8K $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%
$9,676,040
Cap Rate 7%
$6,911,457
Cap Rate 9%
$5,375,578
Alternative Uses
Best Use
Apartment 5plus
$6.91M
$6.05M – $8.06M
NOI $483,802 @ 7.0% cap · market cap 8.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.55M
$10.98M – $14.65M
NOI $878,734 @ 7.0% cap · market cap 16.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
34
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,757
Businesses Nearby
Explore this area
Business Placement
Demographics for 90057, CA
45,510
Population
17,912
Households
2.5
Avg Household Size
35
Median Age
23%
College-Educated
58%
High-School Grad
0.9 sq mi
ZIP Area
50,567
Density / Sq Mi
$44,876
Median Household Income
$30,849
Median Earnings
$1,395
Median Rent
$694,500
Median Home Value
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Market
Average Price Trend$/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 - Three-story multifamily property with an elevator, secured parking, balconies, laundry facilities, and a completed seismic retrofit.
Where is this apartment building located?
The property is located at 400 S Westlake Ave Los Angeles, CA.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: 34 units: 33 apartments plus 1 ADU; 22 one‑bedrooms, nine two‑bedrooms, and three singles; Three‑story building constructed in 1956 on a 17,510‑square‑foot lot
