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.