$2,150,000
229 Westlake Avenue, Los Angeles 90057
1
Bath
6,150
Square feet
6,272
Lot Size
12
# Of Units
Listing Agent
Nick Astrupgaard - KW Commercial Studio City229 South Westlake Avenue is a well-maintained Twelve (12) Unit, 1920s architectural building located in the heart of the North Westlake / Historic Filipinotown community and within a short distance of Silver Lake and Echo Park. 229 South Westlake Avenue is ideally located with immediate access to the neighboring communities of DTLA/Financial District (1.4 miles), Echo Park (1 mile), and Silver Lake (1 mile), which provides ample employment opportunities and world-class entertainment venues. The Walk Score is 94, deemed "Very Walkable." 229 South Westlake Avenue, built in 1926, consists of 6,150 SF of improvements on a 6,272 square-foot parcel and a unit composition of Twelve (12) spacious apartments. Each unit features generously sized main rooms, full kitchens with dining spaces, and full baths with much of the original 1920s character restored. The building amenities include a gated and controlled access entry, street parking, common area laundry, and a massive rear yard for tenant enjoyment. The offering offers investors a unique opportunity to acquire an easy-to-operate cash-flow property with meaningful long-term rent appreciation. The offering provides significant long-term rental upside since the average rent for a studio apartment in Los Angeles in May 2023 was $1,997 per RentoMeter's statistics and trends report.
Facts & Features
MLS® # | 24355605 |
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Price | $2,150,000 |
Bathrooms | 1.00 |
Square Footage | 6,150 |
Lot Size | 6,272 |
Year Built | 1926 |
Type | Residential Income |
Status | Active |
# Of Units | 12 |
Community Information
Address | 229 Westlake Avenue |
---|---|
Area | C21 - Silver Lake - Echo Park |
City | Los Angeles |
County | Los Angeles |
Zip Code | 90057 |
Amenities
Parking | On Street |
---|---|
Garages | On Street |
Is Waterfront | No |
Has Pool | No |
Interior
Has Basement | No |
---|---|
Fireplace | No |
# of Stories | 2 |
Stories | Multi/Split |
Additional Information
Date Listed | February 6th, 2024 |
---|---|
Days on Market | 82 |
Zoning | LAR3 |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | Nick Astrupgaard |
---|---|
Office | KW Commercial Studio City |