229 South Westlake Avenue
229 South Westlake Avenue
$2,150,000
—
12
6,150
6,150
$350
Description
229 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...229 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.
- Listed by Nick Astrupgaard • DRE #01893466 • Brokerage DRE #01458187 • KW Commercial Studio City
- Listed by Rich Johns • DRE #01432215 • Brokerage DRE #01458187 • KW Commercial Studio City
Property Details for 229 South Westlake Avenue
Zoning
LAR3
Parcel Number5154005003
Total Units12.0
Living Area6150
Source Living AreaVendor Enhanced
AreaSilver Lake (671)
Vacancy Rate8%
Lot Size Area6272
Location
LISTING UPDATED: 04/05/2024 01:39 PM
Property Details for 229 South Westlake Avenue
Status | Active |
---|---|
MLS # | 24-355605 |
Days on Market | 82 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1926 |
Lot Size | 0.14 AC / 6,272 SF |
County | Los Angeles County |
Location
Building Information for 229 South Westlake Avenue
Stories2Residences-Year Built1926Building Size-Lot Size0.14 AC / 6,272 SF
Payment Calculator
$12,829 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 229 South Westlake Avenue
Property History for 229 South Westlake Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 229 South Westlake Avenue
Taxable ValueLand$797,904Additions$201,090Total$998,994
Tax Record2023$13,155 ($1,096 / month)
Home Facts
Total Finished SqFt6,150 SqFtAbove Grade Finished SqFt6,150 SqFtLot Size6,272 SqFtStyleMulti-Family Res (5+ Units)Year Built1926ZoningLAR3CountyLOS ANGELESAPN5154-005-003
Schools near 229 South Westlake Avenue
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Union Avenue Elementary School PublicK to 5 | ||
Sal Castro Middle School Public6 to 8 | ||
Contreras Learning Center-School Of Social Justice Public9 to 12 | ||
Academic Leadership Community School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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