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$2,950,000

Est. payment - /mo

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5,685 SqFt

Active

1249 S Westgate AVE Los Angeles, CA 90025

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Nathan King Real Estate Group

info@kingrealestate.group +1(559) 396-0000

UPDATED:

10/09/2024 05:55 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 5,685 sqft

Price per Sqft $518

MLS Listing ID SB24209550

HOA Y/N No

Year Built 1953

Lot Size 6,978 Sqft

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 Wla - West Los Angeles

Zoning LAR3

Rooms

Ensuite Laundry Inside

Interior

Laundry Location Inside

Fireplace No

Laundry Inside

Exterior

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Urban

Total Parking Spaces 2

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 4263007089

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange

Special Listing Condition Standard

Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc. • 310-259-7556

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Nathan King Real Estate Group

Broker | License ID: 01878277

+1(559) 396-0000

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