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1249 S Westgate Avenue

Los Angeles, CA 90025
  • $2,950,000
  • STATUS: PENDING
  • ON SITE: 30 Days
  • ID#: SB24209550
Pending
UPDATED: 16 min ago
$2,950,000
  • 4
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

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. 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.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.sandiegoareahomesforsale.co/homes/156560790
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1249 S Westgate Avenue Los Angeles, CA 90025

  • Price: $2,950,000
  • Status: PENDING
  • On Site: 30 Days
  • Updated: 16 min ago
  • ID#: SB24209550
4
Beds
0
Baths
0
½ Baths
0.16
Acres
Neighborhood:
Los Angeles (90025)
County:
Los Angeles
Area:
Los Angeles (90025)
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. 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.
Exterior Features

Pool N/K

Interior Features

Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1

Property Features

Actual Cap Rate 5.41 Annual Expense Actual 74691 Buildings 1 Cfd Mello Roos Fee 1124.0 Cfd Mello Roos Fee Reflects Year Gross Rent Multiplier Actual 12.22 Gross Scheduled Income Actual 241392 Monthly Total Fees 93 Terms CashConventionalExchange Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 2100.0 Unit2 Rent Actual 2700.0 Unit3 Rent Actual 2700.0 Unit4 Rent Actual 3350.0 Zoning Other

San Diego MLS logo Listing provided courtesy of Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.: 310-259-7556. Listing information © 2024 San Diego MLS Inc. Source: CRMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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Steven G. Fraioli & Associates
13176 Midbluff Ave
San Diego CA, 92128