502 S Westlake Avenue, Los Angeles, CA 90057
- $2,800,000
- 2
- BD
- 28
- BA
- 13,539
- SqFt
- List Price
- $2,800,000
- Status
- ACTIVE
- MLS#
- 26671293
- Year Built
- 1922
- Bedrooms
- 2
- Bathrooms
- 28
- Living Sq. Ft
- 13,539
- Lot Size
- 8,612
- Acres
- 0.20
- Days on Market
- 119
- Property Type
- Multifamily
- Stories
- Three Or More Levels
Property Description
**INDIVIDUALLY METERED:** Tenants pay their own electricity, reducing owner operating expenses.**CLOSE PROXIMITY TO 2028 OLYMPIC VENUES:** Located in close proximity to major venues in the "Downtown Sports Park" for the 2028 Summer Olympics in Los Angeles. Venues include the LA Coliseum, Crypto.com Arena, & BMO Stadium.**UNIQUE CHARACTER ASSET:** Distinctive architectural character with timeless appeal.**ATTRACTIVE BASIS:** Priced at $100,000/unit with a 7.10 GRM, offering investors a compelling entry point.**VALUE-ADD POTENTIAL:** 22% rental upside remaining through interior renovations.**LONG TERM OWNERSHIP:** Same ownership for 20+ years a rare acquisition opportunity.**DENSE INFILL LOCATION CENTRAL TO ENTERTAINMENT AND NIGHTLIFE:** Situated near Koreatown and Downtown Los Angeles, offering renters convenient access to entertainment and nightlife.
Additional Information
- Attached Structure
- Detached
- Number Of Units Total
- 28
Listing courtesy of Listing Agent: Sean Rosenzweig (thesrgroup@marcusmillichap.com) from Listing Office: Marcus & Millichap.
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