124 N Westmoreland Ave, Los Angeles, CA 90004

Property Overview

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124 N Westmoreland Avenue is a 30-unit rent-controlled multifamily investment opportunity located in the Koreatown / East Hollywood submarket, one of Los Angeles’ most densely populated and supply-constrained rental corridors. Built in 1927, the property features efficient studio layouts that continue to perform well in high-density, transit-oriented urban environments.

The asset is comprised entirely of studio units, a product type that benefits from strong leasing velocity, affordability-driven demand, and operational simplicity. Currently operating with multiple vacant units and below-market in-place rents, the property offers a clear and immediate path to income growth through lease-up and systematic rent optimization.

Situated along a dense residential corridor with proximity to transit, daily conveniences, and major employment hubs throughout Central Los Angeles, 124 N Westmoreland Avenue is well positioned to support durable occupancy and long-term rental performance.

While marketed individually for underwriting clarity, 124 N Westmoreland Avenue is offered exclusively as part of a two-property portfolio, alongside the adjacent asset at 118 N Westmoreland Ave, providing investors with contiguous ownership, operational scale, and portfolio-level execution in a core infill location.

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Key Property Details

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• Address: 124 N Westmoreland Ave, Los Angeles, CA 90004
• ‍Units: 30
• ‍Year Built: 1927
• ‍Building Size: 17,730 SF
• ‍Lot Size: 8,405 SF
• ‍Unit Mix: (30) Studios
• ‍Rent Control: Yes

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Investment Highlights

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• Studio-Only Configuration with Strong Leasing Velocity
  The all-studio unit mix aligns with affordability-driven renter demand in Koreatown / East Hollywood, supporting consistent absorption and reduced turnover in a high-density urban setting.
• Meaningful Scale Within a Portfolio Structure
  At 30 units, the property provides a step up in scale relative to smaller assets, enhancing income durability and management efficiency—further amplified when combined with the adjacent 118 N Westmoreland Ave.
• Vacancy and Rent Optimization Upside
  With multiple vacant units and below-market in-place rents, new ownership can drive near-term NOI growth through lease-up while executing a disciplined rent growth strategy across the rent roll.
• Rent-Controlled Asset in a Core Infill Submarket
  Located in one of Los Angeles’ most active rental corridors, the asset benefits from high barriers to entry, limited new supply, and sustained tenant demand driven by density and central location.
• Portfolio Synergy Through Contiguous Ownership
  The combined acquisition of 124 & 118 N Westmoreland Ave allows investors to achieve operational efficiencies, consolidated management, and long-term value creation across adjacent parcels.

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Neighborhood and Accessibility

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The Koreatown / East Hollywood submarket remains one of Los Angeles’ most supply-constrained rental markets, supported by high population density, strong transit connectivity, and proximity to Downtown Los Angeles, Hollywood, and major employment centers. These fundamentals continue to drive strong leasing velocity and long-term rent growth, particularly for studio-oriented housing.

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

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Taylor Avakian

Founder, The Group CRE

First Vice President, Lyon Stahl