$ 2,950,000
1249 S Westgate AVE Los Angeles, CA 90025
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In-PersonVirtual Tour
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,950,000
Est. payment /mo
Pending
1249 S Westgate AVE Los Angeles, CA 90025
6,978 Sqft Lot
UPDATED:
11/08/2024 01:21 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
MLS Listing ID SB24209550
HOA Y/N No
Year Built 1953
Lot Size 6,978 Sqft
Property Description
First time on the market ever! 7/8 Units are vacant and renovation
ready! Once stabilized and ADUs are built, the property will
operate at a 7.88% cap rate and 9.09 GRM. 1249 S Westgate
provides an investor with the opportunity to own a trophy asset in
a desirable pocket of West LA, while also picking their own tenants!
The subject property is comprised of (1) 2Bed+1Bath, (6)
1Bed+1Bath, and (1) Studio+1Bath units. Additionally, there is an
opportunity to build (2) ADUs for added income. There are
currently 9 parking spaces on site, as well as a common laundry
area. Beneficial to the new owner, the building has copper
plumbing, and all retrofit work has been completed.
1249 S Westgate is conveniently located near Third Street
Promenade, UCLA Campus and the Brentwood Country Mart. With
an A+ location and ideal curb appeal, the subject property is ideal
for any investor looking for immediate upside and an ADU
opportunity.
ready! Once stabilized and ADUs are built, the property will
operate at a 7.88% cap rate and 9.09 GRM. 1249 S Westgate
provides an investor with the opportunity to own a trophy asset in
a desirable pocket of West LA, while also picking their own tenants!
The subject property is comprised of (1) 2Bed+1Bath, (6)
1Bed+1Bath, and (1) Studio+1Bath units. Additionally, there is an
opportunity to build (2) ADUs for added income. There are
currently 9 parking spaces on site, as well as a common laundry
area. Beneficial to the new owner, the building has copper
plumbing, and all retrofit work has been completed.
1249 S Westgate is conveniently located near Third Street
Promenade, UCLA Campus and the Brentwood Country Mart. With
an A+ location and ideal curb appeal, the subject property is ideal
for any investor looking for immediate upside and an ADU
opportunity.
Location
State CA
County Los Angeles
Area Wla - West Los Angeles
Zoning LAR3
Interior
Fireplace No
Laundry Inside
Exterior
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Urban
Total Parking Spaces 2
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4263007089
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc. • 310-259-7556