Chateau Westmoreland

09-13-2022
09-26-2022

130 N Westmoreland Ave, Los Angeles, CA 90004

  • Strong Cash Flow-Offered at a 4.75% Cap Rate
  • Gentrifying Location in the Silverlake/Koreatown Area
  • Gorgeous French Normandie Architecture

Property Description

Chateau Westmoreland is a 24-unit apartment community located in the Virgil Village neighborhood of Los Angeles, California. Built in 1926, the property is situated on 0.19 acre lot with a gross rent-able area of approximately 18,013 square feet. The property consists of a three-story brick structure serviced by two staircases and central hallways. Most units contain exposed brick walls, wood flooring and most have been tastefully remodeled to retain their original old world charm. Chateau Westmoreland offers 12 studio apartments measuring approximately 550 square feet each; nine one bedroom, one-bathroom apartments each measuring approximately 700 square feet; and three large one-bedroom, one-bathroom units each approximately 735 square feet in size. Utilities are master metered but most tenants are reimbursing the owner through a RUBS billing system in addition to having a low number or occupants per unit. The property has been heavily upgraded with most units being renovated and several recent improvements to building systems. The property is priced at a 4.75% cap rate and 12.65 GRM with substantial remaining upside.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 5,810,000
No. of Units
24
Year Built
1926
Building Size
18,013 Sq ft
Lot Size
0 acres
No. of Stories
4
APN
5501-007-023
Opportunity Zone
No
Price per unit
$ 242,083
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34.074497, -118.287515

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