Winston and Neville 124 N Westmoreland Ave 30 Unit Apartment Building $5,923,743 CAD ($197,458 CAD/Unit) 7.29% Cap Rate Los Angeles, CA 90004

124 N Westmoreland Avenue is a 30-unit rent-controlled multifamily investment opportunity located in the Koreatown / East Hollywood submarket, one of Los Angeles’ most densely populated and supply-constrained rental corridors. Built in 1927, the property features efficient studio layouts that continue to perform well in high-density, transit-oriented urban environments.
The asset is comprised entirely of studio units, a product type that benefits from strong leasing velocity, affordability-driven demand, and operational simplicity. Currently operating with multiple vacant units and below-market in-place rents, the property offers a clear and immediate path to income growth through lease-up and systematic rent optimization.
Situated along a dense residential corridor with proximity to transit, daily conveniences, and major employment hubs throughout Central Los Angeles, 124 N Westmoreland Avenue is well positioned to support durable occupancy and long-term rental performance.
While marketed individually for underwriting clarity, 124 N Westmoreland Avenue is offered exclusively as part of a two-property portfolio, alongside the adjacent asset at 118 N Westmoreland Ave, providing investors with contiguous ownership, operational scale, and portfolio-level execution in a core infill location.