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155 S Westmoreland Ave 4 Unit Apartment Building $1,700,000 ($425,000/Unit) 4.35% Cap Rate Los Angeles, CA 90004
INVESTMENT HIGHLIGHTS
- Turnkey generational asset in the heart of Los Angeles
- Meticulously maintained property with recently updated systems
- Two separate structures with privacy hedges and sliding front gate
EXECUTIVE SUMMARY
Delivered fully stabilized! Pride of ownership, turnkey, generational asset in a prime location of Rampart Village. There are two structures on the lot with a sliding entry gate, privacy hedges, and space for parking 8 cars. This property has been meticulously maintained with recently updated landscaping and electrical system, sewer line replacement, and rebuilt showers and plumbing. Desirable unit mix of side-by-side 2 beds/1 bath units. All units to be delivered recently remodeled and at market rents. Located on a quiet, dead-end tree lined street in an excellent pocket of Los Angeles. Tons of period character throughout the property. Dense rental market with low vacancy and only 2 minutes from the freeway and 5 minutes to downtown LA. Great opportunity to buy a stabilized, generational asset in the heart of Los Angeles! Please drive by only, do not disturb tenants.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$127,560
|
$34.07
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,378
|
$1.70
|
| Effective Gross Income |
$121,182
|
$32.37
|
| Taxes |
$21,250
|
$5.68
|
| Operating Expenses |
$26,042
|
$6.96
|
| Total Expenses |
$47,292
|
$12.63
|
| Net Operating Income |
$73,890
|
$19.74
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $127,560 |
| Annual Per SF | $34.07 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $6,378 |
| Annual Per SF | $1.70 |
| Effective Gross Income | |
|---|---|
| Annual | $121,182 |
| Annual Per SF | $32.37 |
| Taxes | |
|---|---|
| Annual | $21,250 |
| Annual Per SF | $5.68 |
| Operating Expenses | |
|---|---|
| Annual | $26,042 |
| Annual Per SF | $6.96 |
| Total Expenses | |
|---|---|
| Annual | $47,292 |
| Annual Per SF | $12.63 |
| Net Operating Income | |
|---|---|
| Annual | $73,890 |
| Annual Per SF | $19.74 |
PROPERTY FACTS
| Price | $1,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $425,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 4.35% | Building Size | 3,744 SF |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| Gross Rent Multiplier | 13.33 | Year Built | 1937 |
| No. Units | 4 | Parking Ratio | 2.14/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | R3, Los Angeles - Multiple Dwelling R2 Uses, Apartment Houses, Multiple Dwellings, Child Care (20 max) | ||
| Price | $1,700,000 |
| Price Per Unit | $425,000 |
| Sale Type | Investment |
| Cap Rate | 4.35% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 13.33 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,744 SF |
| No. Stories | 2 |
| Year Built | 1937 |
| Parking Ratio | 2.14/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3, Los Angeles - Multiple Dwelling R2 Uses, Apartment Houses, Multiple Dwellings, Child Care (20 max) |
AMENITIES
UNIT AMENITIES
- Washer/Dryer Hookup
- Hardwood Floors
SITE AMENITIES
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $2,707 | 925 |
1 1
Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (72)
PROPERTY TAXES
| Parcel Number | 5501-015-002 | Total Assessment | $1,601,601 (2025) |
| Land Assessment | $1,121,122 (2025) | Annual Taxes | $21,250 ($5.68/SF) |
| Improvements Assessment | $480,479 (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
5501-015-002
Land Assessment
$1,121,122 (2025)
Improvements Assessment
$480,479 (2025)
Total Assessment
$1,601,601 (2025)
Annual Taxes
$21,250 ($5.68/SF)
Tax Year
2023
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155 S Westmoreland Ave
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