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229 S Westlake Avenue

Los Angeles (City), CA 90057
  • $2,150,000
  • STATUS: Active
  • ON SITE: 14 Days
  • ID#: 24355605
$2,150,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,150
    SQFT
  • $350
    $/SQFT
Type:
Multi-Family
Built:
1926
County:

School Ratings & Info

Listing Agent(s): Nick Astrupgaard of KW Commercial Studio City (818-432-1500) and Rich Johns of KW Commercial Studio City(818-432-1500)


Description

229 South Westlake Avenue is a well-maintained Twelve (12) Unit, 1920s architectural building located in the heart of the North Westlake / Historic Filipinotown community and within a short distance of Silver Lake and Echo Park. 229 South Westlake Avenue is ideally located with immediate access to the neighboring communities of DTLA/Financial District (1.4 miles), Echo Park (1 mile), and Silver Lake (1 mile), which provides ample employment opportunities and world-class entertainment venues. The Walk Score is 94, deemed "Very Walkable." 229 South Westlake Avenue, built in 1926, consists of 6,150 SF of improvements on a 6,272 square-foot parcel and a unit composition of Twelve (12) spacious apartments. Each unit features generously sized main rooms, full kitchens with dining spaces, and full baths with much of the original 1920s character restored. The building amenities include a gated and controlled access entry, street parking, common area laundry, and a massive rear yard for tenant enjoyment. The offering offers investors a unique opportunity to acquire an easy-to-operate cash-flow property with meaningful long-term rent appreciation. The offering provides significant long-term rental upside since the average rent for a studio apartment in Los Angeles in May 2023 was $1,997 per RentoMeter's statistics and trends report.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-21T00:28:16.61. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or COMPASS. Licensed in the State of California, USA.
www.reiferhomes.com/homes/147326512
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229 S Westlake Avenue Los Angeles (City), CA 90057

  • Price: $2,150,000
  • Status: Active
  • On Site: 14 Days
  • ID#: 24355605
0
Beds
0
Baths
0
½ Baths
0.14
Acres
6,150
SQFT
$350
$/SQFT
1926
Built
Neighborhood:
C21 - Silver Lake - Echo Park
County:
Los Angeles
Area:
C21 - Silver Lake - Echo Park
Property Description
229 South Westlake Avenue is a well-maintained Twelve (12) Unit, 1920s architectural building located in the heart of the North Westlake / Historic Filipinotown community and within a short distance of Silver Lake and Echo Park. 229 South Westlake Avenue is ideally located with immediate access to the neighboring communities of DTLA/Financial District (1.4 miles), Echo Park (1 mile), and Silver Lake (1 mile), which provides ample employment opportunities and world-class entertainment venues. The Walk Score is 94, deemed "Very Walkable." 229 South Westlake Avenue, built in 1926, consists of 6,150 SF of improvements on a 6,272 square-foot parcel and a unit composition of Twelve (12) spacious apartments. Each unit features generously sized main rooms, full kitchens with dining spaces, and full baths with much of the original 1920s character restored. The building amenities include a gated and controlled access entry, street parking, common area laundry, and a massive rear yard for tenant enjoyment. The offering offers investors a unique opportunity to acquire an easy-to-operate cash-flow property with meaningful long-term rent appreciation. The offering provides significant long-term rental upside since the average rent for a studio apartment in Los Angeles in May 2023 was $1,997 per RentoMeter's statistics and trends report.
Exterior Features

Parking Features On Street Parking Total 0

Property Features

Association YN No Cap Rate 6.4 Gross Income 202740 Levels Multi/Split Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 138324 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning LAR3



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-21T00:28:16.61. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or COMPASS. Licensed in the State of California, USA.
 
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COMPASS
6930 Indiana Ave, Suite 1
Riverside CA, 92506
Listing Agent(s): Nick Astrupgaard of KW Commercial Studio City (818-432-1500) and Rich Johns of KW Commercial Studio City(818-432-1500)