1249 S Westgate Avenue

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.

Listing information courtesy of: Cameron Samimi, Lyon Stahl Investment Real Estate, Inc. . *Based on information from the Association of REALTORS/Multiple Listing as of 11/26/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.