Description

Prime location! 123 S. Westmoreland Avenue, a 16-unit multifamily asset located in the highly sought-after Koreatown Virgil Village neighborhood of Los Angeles. This property presents a rare opportunity for investors to acquire a value-add asset in one of the city's most dynamic rental markets. Situated just south of 1st Street, between Virgil Avenue and Vermont Avenue, the property occupies a 6,490 SF lot and benefits from excellent transit connectivity via the Vermont/Beverly Metro Stations, as well as numerous Metro Local Lines. The nearby Virgil Avenue corridor is a vibrant and growing hub, offering a diverse array of restaurants, coffee bars, retail shops, and entertainment options that appeal to both residents and visitors. The asset comprises a well-maintained, two-story apartment building totaling approximately 7,760 gross square feet, featuring 16 studio units, each with a private bathroom. Located within a Qualified Opportunity Zone, the property offers potential for significant tax incentives that may enhance long-term returns (Information regarding Qualified Opportunity Zones is provided for general reference only and does not constitute legal, tax, or financial advice. Buyer to perform buyer s own due diligence to verify all permits, SQFT, bedroom/bathroom count, school, and accuracy of all property related info.