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400 S Westlake Ave 34 Unit Apartment Building $5,400,000 ($158,824/Unit) 5.58% Cap Rate Los Angeles, CA 90057
Investment Highlights
- Secured on-site parking, elevator, swimming pool, private balconies, and on-site laundry - far exceeds most comparable Westlake product.
- The state-mandated SB 721 balcony inspection has been completed and cleared.
- A Walk Score of 94 ("Walker's Paradise") and Transit Score of 85—one block from MacArthur Park, steps from Langer's Delicatessen, with Metro B/D Lines
- A well-balanced mix of 22 one-bedrooms, nine two-bedrooms, and three singles.
- Minutes from Downtown's employment core and cultural draws—Grand Central Market, Little Tokyo, and Walt Disney Concert Hall.
- Held by the same ownership for nearly two decades and offered for sale for the first time in 18 years.
Executive Summary
The SR Group of Marcus & Millichap, as exclusive listing agent, is pleased to present 400 South Westlake Avenue, a 34-unit (33 + 1 ADU) apartment community in the Westlake neighborhood of Los Angeles, one block from MacArthur Park and directly west of Downtown.
Built in 1956, the property comprises 34 units (33 + 1 ADU) within a three-story building over parking on a 17,510-square-foot lot. The unit mix is well balanced, with 22 one-bedrooms, nine two-bedrooms, and three singles. The amenity package at 400 South Westlake Avenue is superior to neighboring properties, offering secured on-site parking, an elevator, swimming pool, private balconies, and on-site laundry
400 South Westlake has strong in-place rents and operational upside through expense management. Offered for the first time in 18 years, the asset has approximately 19% rental upside remaining.
The soft-story seismic retrofit is complete, with a City-approved cost-recovery surcharge implemented. In addition, the SB 721 balcony inspection has been completed and cleared.
Westlake is one of the most central neighborhoods in Los Angeles. Longtime institutions like Langer’s Delicatessen, a fixture across from MacArthur Park since 1947, give the area a character of its own, while the Metro B and D Lines and the 101 and 110 Freeways put Downtown’s employment base and its cultural draws—Grand Central Market, Little Tokyo, and Walt Disney Concert Hall among them—minutes away. That access, paired with Westlake’s relative affordability, keeps demand strong.
For an investor taking a longer view of the central Los Angeles market, 400 South Westlake offers a well amenitized asset with strong in-place income and remaining rental upside.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
Built in 1956, the property comprises 34 units (33 + 1 ADU) within a three-story building over parking on a 17,510-square-foot lot. The unit mix is well balanced, with 22 one-bedrooms, nine two-bedrooms, and three singles. The amenity package at 400 South Westlake Avenue is superior to neighboring properties, offering secured on-site parking, an elevator, swimming pool, private balconies, and on-site laundry
400 South Westlake has strong in-place rents and operational upside through expense management. Offered for the first time in 18 years, the asset has approximately 19% rental upside remaining.
The soft-story seismic retrofit is complete, with a City-approved cost-recovery surcharge implemented. In addition, the SB 721 balcony inspection has been completed and cleared.
Westlake is one of the most central neighborhoods in Los Angeles. Longtime institutions like Langer’s Delicatessen, a fixture across from MacArthur Park since 1947, give the area a character of its own, while the Metro B and D Lines and the 101 and 110 Freeways put Downtown’s employment base and its cultural draws—Grand Central Market, Little Tokyo, and Walt Disney Concert Hall among them—minutes away. That access, paired with Westlake’s relative affordability, keeps demand strong.
For an investor taking a longer view of the central Los Angeles market, 400 South Westlake offers a well amenitized asset with strong in-place income and remaining rental upside.
PLEASE DO NOT WALK THE PROPERTY OR DISRUPT TENANTS. CONTACT THE LISTING TEAM FOR DETAILS.
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Property Facts
| Price | $5,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $158,824 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 5.58% | Building Size | 30,067 SF |
| Gross Rent Multiplier | 8.71 | No. Stories | 3 |
| No. Units | 34 | Year Built | 1956 |
| Property Type | Multifamily | Parking Ratio | 0.8/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R4-1 | ||
| Price | $5,400,000 |
| Price Per Unit | $158,824 |
| Sale Type | Investment |
| Cap Rate | 5.58% |
| Gross Rent Multiplier | 8.71 |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 30,067 SF |
| No. Stories | 3 |
| Year Built | 1956 |
| Parking Ratio | 0.8/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4-1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Tub/Shower
- Freezer
- Window Coverings
Site Amenities
- Laundry Facilities
- Pool
- Property Manager on Site
- Gated
- Online Services
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 365 - 442 |
| 1+1 | 22 | - | 650 - 727 |
| 2+1 | 9 | - | 772 - 1,127 |
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Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5154-026-013 | Improvements Assessment | $1,707,571 |
| Land Assessment | $1,970,274 | Total Assessment | $3,677,845 |
Property Taxes
Parcel Number
5154-026-013
Land Assessment
$1,970,274
Improvements Assessment
$1,707,571
Total Assessment
$3,677,845
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400 S Westlake Ave
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