MAJOR $400k PRICE REDUCTION! MOTIVATED SELLER 1715 Westmoreland Blvd 11 Unit Apartment Building $3,250,000 ($295,455/Unit) 4.78% Cap Rate Los Angeles, CA 90006

Lee & Associates – Pasadena is proud to offer 1715 Westmoreland Ave, a well-maintained 11-unit apartment building located in the historic Harvard Heights neighborhood of Los Angeles — just steps from Koreatown. Built in 1986, this charming property blends classic neighborhood character with the ease of modern, low-maintenance ownership.
The building features a diverse unit mix — 1 studio, 6 one-bedroom units, and 4 two-bedroom units — each with its own water heater. The property is subject to AB 1482 rent cap but not subject to the City of LA Rent Stabilization Ordinance, giving investors more flexibility on operations and rent growth. An on-site manager provides day-to-day oversight in exchange for a rent discount, making this an ideal turnkey investment.
Located in the Harvard Heights Historic Preservation Zone (HPOZ), residents enjoy a neighborhood filled with restored Craftsman and Victorian-era homes, many of which are owner-occupied — creating a true sense of community. The street even boasts a unique landmark: the private library of Grammy-winning legend Ray Charles.
Unmatched Location Benefits:
• High-demand Koreatown adjacency – minutes from some of LA’s most vibrant dining and nightlife.
• Excellent connectivity – quick access to I-10, local transit, and just 3 miles from Downtown LA.
• Stable tenant base – four Section 8 tenants add consistent, government-backed income.
This property is a perfect 1031 exchange candidate or a strong addition to any portfolio, offering investors a rare chance to acquire a non-rent-controlled, easy-to-manage asset in a rapidly appreciating submarket.
There is a 400K price reduction.