Property Detail

Description

124 N Westmoreland Ave | 30-Unit Rent-Controlled Multifamily Portfolio Offering in Koreatown / East Hollywood. Built in 1927, this well-located urban infill asset is comprised entirely of (30) studio units, a product type that continues to perform well in high-density, transit-oriented submarkets due to affordability, leasing velocity, and operational efficiency. The property is currently operating with multiple vacant units and below-market in-place rents, providing immediate upside through lease-up and systematic rent optimization across the rent roll. Situated along a dense residential corridor with proximity to major employment centers, neighborhood retail, and public transportation, the asset benefits from durable tenant demand in one of Los Angeles' most supply-constrained rental markets. Offered exclusively as part of a two-property Westmoreland Avenue portfolio, the property must be acquired together with the adjacent asset at 118 N Westmoreland Ave.