118 N Westmoreland Ave, Los Angeles, CA 90004

Property Overview

‍

118 N Westmoreland Avenue is a 24-unit rent-controlled multifamily investment opportunity located in the Koreatown / East Hollywood corridor, one of Los Angeles’ most dense and supply-constrained rental submarkets. Built in 1926 on an 18,765 SF lot, the property features classic Los Angeles architecture with efficient unit layouts that continue to perform well in urban infill locations.

The asset offers a balanced unit mix of studios and one-bedroom units, supporting broad renter appeal and leasing flexibility across market cycles. Currently operating with multiple vacant units and below-market in-place rents, the property presents an immediate opportunity to enhance income through lease-up and systematic rent optimization, while maintaining strong in-place cash flow.

Positioned near major transit routes, neighborhood retail, and employment hubs throughout Central Los Angeles, 118 N Westmoreland benefits from sustained tenant demand driven by density, accessibility, and long-term urban housing fundamentals. The offering is well suited for investors seeking durable cash flow with a clear, executable value-add strategy in a core infill location.

While marketed separately, 118 N Westmoreland Ave is being offered exclusively as part of a two-property portfolio alongside the adjacent asset at 124 N Westmoreland Ave. The combined offering provides investors with contiguous ownership, operational efficiencies, and enhanced long-term value creation through scale in a dense, high-barrier submarket.

‍

‍

Key Property Details

‍

• Address: 118 N Westmoreland Ave, Los Angeles, CA 90004
• ‍Units: 24
• ‍Year Built: 1926
• ‍Building Size: 18,765 SF
• ‍Lot Size: 18,765 SF
• ‍Unit Mix: (12) Studios | (12) 1-Bed / 1-Bath
• ‍Rent Control: Yes

‍

‍

Investment Highlights

‍

• Balanced Unit Mix Supporting Long-Term Demand
  The evenly split studio and one-bedroom configuration appeals to a wide renter base, providing leasing flexibility and supporting stable occupancy through varying market conditions.
• Vacancy-Driven Value-Add Upside
  With five vacant units, new ownership can immediately capture income growth through lease-up while executing a measured rent growth strategy across the remaining in-place units.
• Attractive In-Place Returns with Pro Forma Expansion
  The property delivers strong current cash flow with meaningful upside through mark-to-market rents, without reliance on speculative redevelopment or major capital reconfiguration.
• Rent-Controlled Asset in a Core Infill Location
  Located in a dense, high-barrier submarket with limited new multifamily supply, the asset benefits from durable tenant demand and long-term rent growth fundamentals supported by central Los Angeles density.
• Transit-Oriented Urban Corridor
  Proximity to major transit routes and employment centers enhances long-term desirability for renters seeking accessibility to Koreatown, Downtown Los Angeles, and surrounding lifestyle hubs.
• Portfolio Scale & Contiguous OwnershipThe property is part of a two-asset, adjacent portfolio on Westmoreland Avenue, enabling operational efficiencies, consolidated management, and long-term optionality through scale in a core infill location.

‍

‍

Neighborhood and Accessibility

‍

The Koreatown / East Hollywood submarket remains one of Los Angeles’ most active and supply-constrained rental markets, characterized by high population density, limited new development, and strong transit connectivity. These fundamentals continue to support stable occupancy and sustained rental performance across economic cycles.

118 N Westmoreland Avenue is situated along a residential corridor that balances neighborhood character with immediate access to Koreatown’s commercial core, daily conveniences, and major thoroughfares—driving consistent renter demand and long-term appreciation potential.

‍

‍

For more information and to schedule a viewing, please contact:

‍

Taylor Avakian

Founder, The Group CRE

First Vice President, Lyon Stahl