Los Angeles, CA 90025,1249 S Westgate Avenue
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Los Angeles, CA 90025,1249 S Westgate Avenue
Los Angeles, CA 90025,1249 S Westgate Avenue
Los Angeles, CA 90025,1249 S Westgate Avenue
Los Angeles, CA 90025,1249 S Westgate Avenue

$2,600,000

Est. payment /mo

$2,950,000

11.9%
Est.Price: ?

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1249 S Westgate Avenue Los Angeles, CA 90025

5,685 SqFt

SOLD DATE : 12/24/2024

Key Details

Sold Price $2,600,000

Property Type Commercial

Sub Type Other

Listing Status Sold

Purchase Type For Sale

Square Footage 5,685 sqft

Price per Sqft $457

MLS Listing ID CRSB24209550

Sold Date 12/24/24

HOA Y/N No

Year Built 1953

Lot Size 6,977 Sqft

Acres 0.16

Property Description

First time on the market ever! 7/8 Units are vacant and renovation ready! Once stabilized and ADUs are built, the property will operate at a 7.88% cap rate and 9.09 GRM. 1249 S Westgate provides an investor with the opportunity to own a trophy asset in a desirable pocket of West LA, while also picking their own tenants! The subject property is comprised of (1) 2Bed+1Bath, (6) 1Bed+1Bath, and (1) Studio+1Bath units. Additionally, there is an opportunity to build (2) ADUs for added income. There are currently 9 parking spaces on site, as well as a common laundry area. Beneficial to the new owner, the building has copper plumbing, and all retrofit work has been completed. 1249 S Westgate is conveniently located near Third Street Promenade, UCLA Campus and the Brentwood Country Mart. With an A+ location and ideal curb appeal, the subject property is ideal for any investor looking for immediate upside and an ADU opportunity.

Location

State CA

County Los Angeles

Area Listing

Zoning LAR3

Interior

Fireplace No

Laundry Inside

Building

Sewer Public Sewer

Water Public

New Construction No

Others

Tax ID 4263007089

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Bridge MLS
Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.
Bought with MichaelPadilla
agent

Jodi Nishimura

Founder & Realtor® | License ID: 01762935

+1(510) 459-0471

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