CALL FOR OFFERS: Thursday 10/6/2016 @5PM. The Westmoreland Apartments is a Rare NON-RENT CONTROL, seven unit asset, located in one of the most Central and Desirable rental pockets in Los Angeles. All units are separately metered for Gas & Electricity, and all units have their own water heaters, keeping landlord expenses extremely LOW. The property features secure, gated entry, on-site laundry facilities, a community garden & 15 PARKING Spaces, including two garages. The property presents the astute investor with a NON-rent controlled asset; the ability to achieve market rents & operate with extremely low expenses & favorable financing, creating a solid income stream in a central & high-demand rental pocket, well positioned for accelerated appreciation. The property is situated on a 7,916 SF R3 lot, providing future development potential. Some expenses are estimates. Records provided upon accepted offer. 5.95% Cap Rate & 12.86 GRM based on market rents.
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