PRICE ADJUSTMENT!! We are pleased to present 1256 S. Westgate Ave in a prime West Los Angeles submarket just a block south of Wilshire Blvd and adjacent to Brentwood, another premier rental pocket of LA's westside. The subject property is a 10 unit apartment building built in 1960. The building… Read More boasts an excellent unit mix including (7) 1 bed / 1 bath and (3) 2 bed / 1 bath units spread out over 7,391 square feet and sits on a 7,202 square foot LAR3 zoned lot. 1256 Westgate is a unique value-add opportunity in one of the best rental pockets of Los Angeles. With approximately 72% upside in rents a future investor will benefit from a well located asset and long term growth potential. LA's Westside has continued to prove to be one of the, if not the best, rental pockets in all of Los Angeles. With continued rent growth and low vacancy rates renters continue to seek out opportunities in the immediate area surrounding the subject property. With Santa Monica directly to the west, Brentwood directly to the north and Westwood just a short distance to the east, the property is strategically positioned. Area amenities include high end restaurants, bars and nightlife along with shopping and a robust office market making it a perennial economic hub in Southern California. The location and rental upside make this an opportunity to own a generational asset in one of LA's best neighborhoods. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Peter James 310-425-9838
Listing Snapshot
Days Online
119
Last Updated
Property Type
Other
Beds
13
Square Ft.
7,391
Lot Size
0.17 Acres
Year Built
1960
MLS Number
25487089
30 Days Snapshot Of 90025
$1.33M
-8%
(avg) sold price
15
-11%
homes sold
65
-9%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Refrigerator, Dryer, Washer
Building
Built in 1960, Building area total: 7,391, Levels: Two, Living area: 7391, 2 stories, 1 building, Architectural style: MidCenturyModern, Construction materials: Stucco
Cooling
None
Fireplaces
None
Income
Gross income: $181,880, Net operating income: $103,743
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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