1701 Westmoreland Blvd Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90006
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 18,922 sqft
Price per Sqft $200
MLS Listing ID 25523161
Bedrooms 42
Year Built 1968
Lot Size 0.509 Acres
Acres 0.5095
Property Sub-Type Multi-Family
Property Description
We are pleased to present 1701 Westmoreland Blvd, a 24-unit value-add investment opportunity in the Harvard Heights neighborhood of Los Angeles. The subject property was originally a HUD Project-Based Section 8 property and was opted out of the HUD program in October2011. Ideally positioned between Venice Blvd and W Washington Blvd, the property is just minutes from Downtown Los Angeles and Koreatown, with convenient access to the10 Freeway. Harvard Heights is a densely populated neighborhood known for its historic architecture and strong rental demand, making this an attractive opportunity for investors seeking upside potential in a prime central location.The property features a desirable unit mix of six one-bedroom and 18 two-bedroom units, along with 27 parking spaces. Current rents are significantly below market, offering over 79% rental upside. The property is well positioned for a Naturally Occurring Affordable Housing (NOAH) conversion, as 50% of the current tenants are voucher holders, while the remaining units rent for below approximately 80% of the area's median income (AMI). This favorable rent structure enhances the property's long-term stability and appeals to both value-add and mission-driven affordable housing operators. Residents benefit from a high walk score of 88, with convenient access to public transportation just two blocks away on S Western Ave, as well as proximity to major retailers, Loyola High School, other neighborhood amenities and major employment hubs.
Location
State CA
County Los Angeles
Area Mid Los Angeles
Zoning LAR2
Rooms
Other Rooms None
Interior
Heating None
Cooling None
Equipment None
Exterior
Parking Features Gated
Garage Spaces 27.0
Building
Story 3
Level or Stories Three Or More
Others
Special Listing Condition Standard