548 North Westmoreland Avenue

Los Angeles, CA 90004

$3,925,000
Price
20
Beds
20
Baths
9,744 Sq. Ft.
$403 / Sq. Ft.
9,744
Sq. Ft.
$403
per Sq. Ft.

Description

548 N Westmoreland Ave is a 9-unit apartment building situated between East Hollywood and Silver Lake. The property's large unit mix consists of seven 2+2's, one 3+2.5, and one 3+3. Four of the units have been extensively remodeled to include new paint, kitchens and bathrooms, laminate flooring, and air conditioning. All units are townhouse style with open concept layouts and exterior balconies. The building has had numerous upgrades including security camera installation, a rebuilt staircase, and...548 N Westmoreland Ave is a 9-unit apartment building situated between East Hollywood and Silver Lake. The property's large unit mix consists of seven 2+2's, one 3+2.5, and one 3+3. Four of the units have been extensively remodeled to include new paint, kitchens and bathrooms, laminate flooring, and air conditioning. All units are townhouse style with open concept layouts and exterior balconies. The building has had numerous upgrades including security camera installation, a rebuilt staircase, and new exterior paint. In addition, the property is not subject to LA City rent control (only subject to California State rent control), which allows for larger annual rent increases. Superbly located just steps away from the heart of the Virgil Village commercial corridor, 548 N Westmoreland Ave provides residents with many of the great things LA has to offer right outside their front door. The property features a stellar 88 walk score and is central to major employment, freeways, and points of interest alike. Tenants with children have numerous nearby parks and schools to choose from, including Bellevue Recreation Center and Dayton Heights Elementary. Public transit is also easily accessible at the Vermont/Beverly Metro station at 0.6 miles away. With 548 N Westmoreland, you can hedge against inflation, exploit tax advantages, and add more value (approximately 20% rental upside remains), all without the burden of LA City rent control!
  1. Listed by Jordan Peikin • DRE #02015987 • Brokerage DRE #02015987 • Jordan Peikin
  2. Listed by Nathan Richards • DRE #01748598 • Brokerage DRE #01748598 • Nathan Richards

Property Details for 548 North Westmoreland Avenue

Water Front
None
Zoning
LAR3
Parcel Number
5539030022
Total Units
9.0
Living Area
9744
Source Living Area
Vendor Enhanced
Area
Silver Lake (671)
Vacancy Rate
1

Location

Listing Courtesy of Jordan Peikin, Jordan Peikin, DRE #02015987; Nathan Richards, Nathan Richards, DRE #01748598
Add your commute
LISTING UPDATED: 03/12/2024 12:01 AM

Property Details for 548 North Westmoreland Avenue

StatusActive
MLS #24-364675
Days on Market58
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1990
Lot Size0.17 AC / 7,505 SF
CountyLos Angeles County

Location

Listing Courtesy of Jordan Peikin, Jordan Peikin, DRE #02015987; Nathan Richards, Nathan Richards, DRE #01748598
Add your commute

Building Information for 548 North Westmoreland Avenue

Stories2Residences-Year Built1990Building Size-Lot Size0.17 AC / 7,505 SF

Payment Calculator

$24,401 per month

30 year fixed, 7.25% Interest

Principal and Interest

$21,420

Property Taxes

$2,981

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 548 North Westmoreland Avenue

Community / Development
Community / Development
  • Number Of Units: 9
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • View: Yes
  • View Description: City, City Lights
  • View: City Lights
  • Security Features: Exterior Security Lights, Card/Code Access, Gated
  • Property Condition: Updated/Remodeled
  • Water: Public
  • Sewer: In Street
Contract Info
Contract Info
  • Probate: No
  • Disclosures: Owner Is Listing Agent, Owner Has R.E. License, Rent Control, As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $267,711
  • Net Operating Income: $170,103.00
  • Gross Income: $273,516
  • Cap Rate: 4.30%
  • Gross Rent Multiplier: $14.35
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 97608
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: No
  • Lot Acreage: 0.1723
  • Lot Size Square Feet: 7505
Parking Details
Parking Details
  • Parking Garage: Assigned, Gated, Subterranean
  • Total Parking: 18
  • Garage Spaces Total: 18
  • Parking Features: Assigned, Gated, Subterranean
Interior Features
Interior Features
  • Levels: Multi/Split
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Laminate, Tile
  • Equipment: Ceiling Fan, Dishwasher, Garbage Disposal, Microwave, Refrigerator, Range/Oven
  • Interior Features: Ceiling Fan(s)
  • Laundry: Community, Room
  • Laundry Equipment: Own
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis Court: None
  • Roof: Composition, Spanish Tile
  • New Construction: No
  • Construction Materials: Frame, Stucco
  • Exterior Construction: Frame, Stucco
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 03-04-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,126.00
  • Unit Actual Rent: $2,126.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,795.00
  • Unit Actual Rent: $2,795.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 3
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $3,495.00
  • Unit Actual Rent: $3,495.00
  • Unit Projected Rent: $3,495.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,250.00
  • Unit Actual Rent: $2,250.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,795.00
  • Unit Actual Rent: $2,795.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 3
  • Unit Baths: 3
  • Unit Furnished: No
  • Unit Rent: $2,690.00
  • Unit Actual Rent: $2,690.00
  • Unit Projected Rent: $3,495.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,756.00
  • Unit Actual Rent: $1,756.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,875.00
  • Unit Actual Rent: $2,875.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,011.00
  • Unit Actual Rent: $2,011.00
  • Unit Projected Rent: $2,900.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $1,352,520.00
  • Assessed Improvement Percent: 47.27
  • Assessed Land Value: $1,508,580.00
  • Assessed Land Percent: 52.73
  • Assessed Total Value: $2,861,100.00

Property History for 548 North Westmoreland Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 548 North Westmoreland Avenue

Taxable ValueLand$1,508,580Additions$1,352,520Total$2,861,100
Tax Record2023$35,778 ($2,981 / month)
Home Facts
Total Finished SqFt9,744 SqFtAbove Grade Finished SqFt9,744 SqFtLot Size7,503 SqFtStyleMulti-Family Res (5+ Units)Year Built1990ZoningLAR3CountyLOS ANGELESAPN5539-030-022

Schools near 548 North Westmoreland 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
Charter - 9 to 12
Rating
School
Distance
Dayton Heights Elementary School
PublicK to 5

Thomas Starr King Middle School
Public6 to 8

John Marshall Senior High School
Public9 to 12

Camino Nuevo High No. 2
Charter9 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.

Similar Homes

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548 North Westmoreland Avenue is a multi-family home for sale in Los Angeles, CA 90004. This property was listed for sale on March 4, 2024 by Jordan Peikin, it's currently listed at $3,925,000. It has been on the market for a total of 58 days and was last sold on November 10, 2020. This listing's school district is Los Angeles Unified School District. Nearby schools include Dayton Heights Elementary School, Thomas Starr King Middle School and John Marshall Senior High School. 548 North Westmoreland Avenue is a 20-bed, 20-bath, 9,744 sqft multi-family home built in 1990.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Jordan Peikin, Jordan Peikin, DRE #02015987; Nathan Richards, Nathan Richards, DRE #01748598

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.