Description
We are pleased to present Westmoreland Apartments, a 1986 constructed multi-family property located in the Harvard Heights section of Los Angeles. Located at 1715 Westmoreland Blvd, this well maintained property is comprised of one x single/three-quarter bath, six x one bedroom/one bath, and four x two bedroom/one bath apartments. It appears the single unit may have been an office at one time and was converted to an apartment. The property is subject to AB 1482 but not subject to the city of Los Angeles Rental Stabilization Ordinance. For 2022, AB 1482 allowed for 10% rent increases. There are four section 8 tenants. Each unit has its own water heater. The property has been under the same ownership for over ten years. The property was recently painted and the driveway was repaved. The current loan on the property is assumable and has a very attractive below market rate of 3.65%. The loan is fixed until April, 2026 at which time it becomes adjustable. With the assumption, the property generates significant cashflow starting on day one of ownership. Please download the OM for more specific details, and contact listing agent for more information. Please do not walk on property, tenants are not aware of sale.
Location
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Based on information from CRISNet MLS all data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Updated: 28th May, 2023 9:14 AM (UTC)
