118 N Westmoreland Ave 24 Unit Apartment Building $5,204,287 CAD ($216,845 CAD/Unit) 7.68% Cap Rate Los Angeles, CA 90004

118 N Westmoreland Avenue is a 24-unit rent-controlled multifamily investment opportunity located in the Koreatown / East Hollywood corridor, one of Los Angeles’ most dense and supply-constrained rental submarkets. Built in 1926 on an 18,765 SF lot, the property features classic Los Angeles architecture with efficient unit layouts that continue to perform well in urban infill locations.
The asset offers a balanced unit mix of studios and one-bedroom units, supporting broad renter appeal and leasing flexibility across market cycles. Currently operating with multiple vacant units and below-market in-place rents, the property presents an immediate opportunity to enhance income through lease-up and systematic rent optimization, while maintaining strong in-place cash flow.
Positioned near major transit routes, neighborhood retail, and employment hubs throughout Central Los Angeles, 118 N Westmoreland benefits from sustained tenant demand driven by density, accessibility, and long-term urban housing fundamentals. The offering is well suited for investors seeking durable cash flow with a clear, executable value-add strategy in a core infill location.
While marketed separately, 118 N Westmoreland Ave is being offered exclusively as part of a two-property portfolio alongside the adjacent asset at 124 N Westmoreland Ave. The combined offering provides investors with contiguous ownership, operational efficiencies, and enhanced long-term value creation through scale in a dense, high-barrier submarket.