We are pleased to present 1701 Westmoreland Blvd, a 24-unit value-add investment opportunity in the Harvard Heights neighborhood of Los Angeles. The subject property was originally a HUD Project-Based Section 8 property and was opted out of the HUD program in October2011. Ideally positioned between Venice Blvd and W Washington… Read More Blvd, the property is just minutes from Downtown Los Angeles and Koreatown, with convenient access to the10 Freeway. Harvard Heights is a densely populated neighborhood known for its historic architecture and strong rental demand, making this an attractive opportunity for investors seeking upside potential in a prime central location.The property features a desirable unit mix of six one-bedroom and 18 two-bedroom units, along with 27 parking spaces. Current rents are significantly below market, offering over 79% rental upside. The property is well positioned for a Naturally Occurring Affordable Housing (NOAH) conversion, as 50% of the current tenants are voucher holders, while the remaining units rent for below approximately 80% of the area's median income (AMI). This favorable rent structure enhances the property's long-term stability and appeals to both value-add and mission-driven affordable housing operators. Residents benefit from a high walk score of 88, with convenient access to public transportation just two blocks away on S Western Ave, as well as proximity to major retailers, Loyola High School, other neighborhood amenities and major employment hubs. Read Less
Courtesy of Marcus & Millichap 310-909-5500
Listing Snapshot
Days Online
31
Last Updated
Property Type
Other
Beds
42
Square Ft.
18,922
Lot Size
0.51 Acres
Year Built
1968
MLS Number
25523161
30 Days Snapshot Of 90006
$883k
-12%
(avg) sold price
2
0%
homes sold
47
-46%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
None
Building
18,922 sq ft, Built in 1968, Levels: Three Or More
Cooling
None
Disclosures
None
Garage
Gated
Heating
None
Lot
LotAcreage: 0.5095, LotSizeArea: 22,193
Parking
TotalParking: 27
Property
NumberOfUnits: 24, Zoning: LAR2
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.
Confirm your time
Fill in your details and we will contact you to confirm a time.
Contact
'VIP' Property Search
Put an experts eye on your home search! You’ll receive personalized matches of results delivered direct to you.
Import This Listing
Import Completed
To view your listing, click one of the options below.
