138 S Westmoreland Ave, Los Angeles, CA 90004
138 S Westmoreland Ave, Los Angeles, CA 90004
138 S Westmoreland Ave, Los Angeles, CA 90004
15
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$3,400,000
Est. payment /mo
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32 Baths
18,604 SqFt
Active

138 S Westmoreland Ave Los Angeles, CA 90004

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David Jones

David Jones

+1(702) 883-8801

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 18,604 sqft

Price per Sqft $182

MLS Listing ID 26993013

Year Built 1926

Lot Size 7,924 Sqft

Acres 0.1819

Property Sub-Type Multi-Family

Property Description

138 S Westmoreland Ave | 33-Unit Value-Add Multifamily, Los Angeles. The property is a 1926-built asset totaling 18,604 SF on a 7,922 SF lot in Rampart Village, on the northern edge of Koreatown and within walking distance of the Metro B Line. It features (31) studio units averaging 445 SF and (2) 1+1 units at 625 SF. Twenty-nine units are currently occupied, and 23 of them rent below market. Four long-term tenancies dating to 20052011 carry 34%67% upside to the $1,395 studio market rent, and three vacant studios are ready to lease at market. Offered at $3,400,000 ($103,030/unit | $182.76/SF) with a 6.17% current cap rate, the real story is the rent-to-market gap a 7.71% pro forma cap and an entry roughly 12.7% below the ~$118K/unit average of recent comparable sales.

Location

State CA

County Los Angeles

Area Mid-Wilshire

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating None

Cooling None

Equipment None

Exterior

Parking Features None

Building

Level or Stories Multi/Split

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Lyon Stahl Investment Real Estate, Inc.

NEARBY SCHOOL & BUSINESS

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David Jones
David Jones

Agent RE.S.0072438

+1(702) 883-8801 | davidsellslasvegas@gmail.com

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138 S Westmoreland Ave