123 S Westmoreland AVE new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90004
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25537551
Year Built 1925
Lot Size 6,499 Sqft
Property Description
Prime location! 123 S. Westmoreland Avenue, a 16-unit multifamily asset located in the highly sought-after Koreatown Virgil Village neighborhood of Los Angeles. This property presents a rare opportunity for investors to acquire a value-add asset in one of the city's most dynamic rental markets. Situated just south of 1st Street, between Virgil Avenue and Vermont Avenue, the property occupies a 6,490 SF lot and benefits from excellent transit connectivity via the Vermont/Beverly Metro Stations, as well as numerous Metro Local Lines. The nearby Virgil Avenue corridor is a vibrant and growing hub, offering a diverse array of restaurants, coffee bars, retail shops, and entertainment options that appeal to both residents and visitors. The asset comprises a well-maintained, two-story apartment building totaling approximately 7,760 gross square feet, featuring 16 studio units, each with a private bathroom. Located within a Qualified Opportunity Zone, the property offers potential for significant tax incentives that may enhance long-term returns (Information regarding Qualified Opportunity Zones is provided for general reference only and does not constitute legal, tax, or financial advice. Buyer to perform buyer's own due diligence to verify all permits, SQFT, bedroom/bathroom count, school, and accuracy of all property related info.
Location
State CA
County Los Angeles
Area C17 - Mid-Wilshire
Zoning LAR3
Exterior
Community Features Gated
Roof Type Clay,Flat
Building
Story 2
Others
Special Listing Condition Standard