155 S Westmoreland Ave Los Angeles, CA 90004

Property Details for 155 S Westmoreland Ave

Year built

1937

Property size

3,744 SF

Property type

Commercial real estate

APN

5501-015-002

Description

This exceptional investment opportunity presents a fully stabilized four-unit apartment building located in the desirable Rampart Village neighborhood of Los Angeles, CA. The property, situated at 155 S Westmoreland Ave, boasts a total of 3,744 square feet across two structures on a 6,499 square foot lot. Built in 1937, this Class B property features a desirable unit mix of two side-by-side two-bedroom, one-bathroom units, all recently remodeled and currently operating at 100% occupancy. Recent upgrades include a new electrical system, plumbing, sewer line, and roof repairs, along with updated landscaping. The property includes a sliding entry gate, privacy hedges, and parking for four cars, with additional space for up to eight. The asking price is $1,895,000, representing a price per square foot of $506.14 and a price per unit of $473,750. The current Net Operating Income (NOI) is $74,541, yielding a 3.93% cap rate, with a pro-forma NOI of $78,000 and a pro-forma cap rate of 4.12%. The property is zoned LA-R3 and benefits from its location on a quiet, tree-lined street, just two minutes from the freeway and five minutes from downtown Los Angeles. Seller financing is available with 50% down and a 5.5% interest rate. This turnkey property offers a rare opportunity to acquire a generational asset in a dense rental market with low vacancy and high demand. Please drive by only