1256 S Westgate Ave 10 Unit Apartment Building $2,750,000 ($275,000/Unit) 4.73% Cap Rate Los Angeles, CA 90025

The James Group is 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 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 44% upside in rents a future investor will benefit from a well located asset and long term growth potential. There are currently 2 vacancies at the building allowing for immediate access to upside potential.
LA’s Westside continues 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 real estate asset in one of LA’s best neighborhoods.