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717 S Westlake Ave
Los Angeles, CA 90057 Koreatown

$4,950,000 USD

Apartments For Sale  •  18,510 SF

Property Details

  • Property Type Apartments
  • Total Building Size 18,510 SF
  • Lot Size 0.17 AC
  • Building Class C
  • Year Built 1924
  • Cap Rate 6.40 %
  • Zoning R4, Los Angeles
86 Transit Score
96 Walk Score

Highlights

717 S Westlake Avenue is a 40-unit investment opportunity in Westlake with attractive income and value-add potential.
717 S Westlake Avenue comprises Seven (7) One-Bedroom / One- Bathroom units and Thirty-Three (33) Studio apartments.
The asset has been priced to sell with solid income metrics – 6.4% cap and 11 GRM, along with $123,750/door.
717 S Westlake Avenue is separately metered for gas and master metered for electricity.
Potentiality exists to create new revenue streams with the implementation of a RUBs system, and common area laundry.
The property has a WALKSCORE of 95 and is considered a “Walker’s Paradise.”

Property Flyers

Financial Summary (Actual)

Net Operating Income: $318,777 USD (2023)
Cap Rate: 6.40 %
Total Expenses: $217,222 USD

Amenities

  • Storage Space
  • Heating
  • Kitchen

Public Transportation

Commuter RailDriveWalkDistance
Union Station (91 Line - Southern California Regional Rail Authority (Metrolink), Antelope Valley Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink), Riverside Line - Southern California Regional Rail Authority (Metrolink), San Bernardino Line - Southern California Regional Rail Authority (Metrolink), Ventura County Line - Southern California Regional Rail Authority (Metrolink)) 9 min - 3.2 mi
Los Angeles (Coast Starlight - Amtrak, Pacific Surfliner - Amtrak, Southwest Chief - Amtrak, Texas Eagle - Amtrak) 7 min - 3.5 mi
Transit/SubwayDriveWalkDistance
Westlake/Macarthur Park Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 0 min 3 min 0.2 mi
AirportDriveWalkDistance
Bob Hope 23 min - 13.7 mi
Los Angeles International 24 min - 14.1 mi
Long Beach (Daugherty Field) 31 min - 23.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Rich Johns 818-432-1575 KW Commercial
Rich Johns 818-432-1575 KW Commercial