
123 Westmoreland Ave Los Angeles, CA 90004
Koreatown NeighborhoodEstimated payment $14,497/month
About This Home
Prime location! 123 S. Westmoreland Avenue, a 16-unit multifamily asset located in the highly sought-after Koreatown Virgil Village neighborhood of Los Angeles. This property presents a rare opportunity for investors to acquire a value-add asset in one of the city's most dynamic rental markets. Situated just south of 1st Street, between Virgil Avenue and Vermont Avenue, the property occupies a 6,490 SF lot and benefits from excellent transit connectivity via the Vermont/Beverly Metro Stations, as well as numerous Metro Local Lines. The nearby Virgil Avenue corridor is a vibrant and growing hub, offering a diverse array of restaurants, coffee bars, retail shops, and entertainment options that appeal to both residents and visitors. The asset comprises a well-maintained, two-story apartment building totaling approximately 7,760 gross square feet, featuring 16 studio units, each with a private bathroom. Located within a Qualified Opportunity Zone, the property offers potential for significant tax incentives that may enhance long-term returns (Information regarding Qualified Opportunity Zones is provided for general reference only and does not constitute legal, tax, or financial advice. Buyer to perform buyer s own due diligence to verify all permits, SQFT, bedroom/bathroom count, school, and accuracy of all property related info.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1925
Lot Details
- 6,497 Sq Ft Lot
- Lot Dimensions are 52x125
Interior Spaces
- 16 Bathrooms
- 7,760 Sq Ft Home
- 2-Story Property
Community Details
- 16 Units
Listing and Financial Details
- Assessor Parcel Number 5501-015-008
Map
Home Values in the Area
Average Home Value in this Area
Property History
Date | Event | Price | Change | Sq Ft Price |
---|---|---|---|---|
07/24/2025 07/24/25 | Price Changed | $2,248,000 | -10.0% | $290 / Sq Ft |
05/12/2025 05/12/25 | For Sale | $2,498,000 | -- | $322 / Sq Ft |
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Source: The MLS
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