40 Units | $123,759 Per Door | 6.4% Cap | 717 S Westlake Ave
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
40 Units | $123,759 Per Door | 6.4% Cap 717 S Westlake Ave
40 Unit Apartment Building $6,953,166 CAD ($173,829 CAD/Unit) 6.40% Cap Rate Los Angeles, CA 90057
Investment Highlights
- 717 S Westlake Avenue is a 40-unit investment opportunity in Westlake with attractive income and value-add potential.
- The asset has been priced to sell with solid income metrics – 6.4% cap and 11 GRM, along with $123,750/door.
- Potentiality exists to create new revenue streams with the implementation of a RUBs system, and common area laundry.
- 717 S Westlake Avenue comprises Seven (7) One-Bedroom / One- Bathroom units and Thirty-Three (33) Studio apartments.
- 717 S Westlake Avenue is separately metered for gas and master metered for electricity.
- The property has a WALKSCORE of 95 and is considered a “Walker’s Paradise.”
Executive Summary
717 S Westlake Avenue is a 40-unit investment opportunity in Westlake, a densely populated rental submarket known for excellent rent growth and low vacancy rates. 717 S Westlake Avenue comprises Seven (7) One-Bedroom / One-Bathroom units and Thirty-Three (33) Studio apartments. The C of O from 1987 states that a portion of the basement was converted to housekeeping units and one efficiency dwelling unit. The property is in the rapidly gentrifying Westlake neighborhood, just west of Downtown Los Angeles and close to Koreatown and Echo Park. It is steps away from Wilshire Boulevard, Alvarado Street, MacArthur Park, and the metro station. 717 S Westlake Avenue is separately metered for gas and master metered for electricity. Consequently, in 2024 rents were eligible for rental increases of 5% (4% authorized in 2024 plus 1% for the electrical metering). Additionally, potentiality exists to create new revenue streams with the implementation of a RUBs system, and common area laundry.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$769,214
|
$41.56
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$15,385
|
$0.83
|
| Effective Gross Income |
$753,829
|
$40.73
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$305,501
|
$16.50
|
| Net Operating Income |
$448,328
|
$24.22
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $769,214 |
| Annual Per SF | $41.56 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $15,385 |
| Annual Per SF | $0.83 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $753,829 |
| Annual Per SF | $40.73 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $305,501 |
| Annual Per SF | $16.50 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $448,328 |
| Annual Per SF | $24.22 |
Property Facts
| Price | $6,953,166 CAD | Apartment Style | Mid Rise |
| Price Per Unit | $173,829 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.40% | Building Size | 18,510 SF |
| Gross Rent Multiplier | 9.1 | Average Occupancy | 100% |
| No. Units | 40 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1924 |
| Property Subtype | Apartment |
| Price | $6,953,166 CAD |
| Price Per Unit | $173,829 CAD |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| Gross Rent Multiplier | 9.1 |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 18,510 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1924 |
Unit Amenities
- Storage Space
- Heating
- Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | $1,829 CAD | - |
| Studios | 33 | $1,552 CAD | 500 |
1 of 1
Walk Score ®
Walker's Paradise (96)
Transit Score ®
Excellent Transit (86)
Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 5141-019-011 | Improvements Assessment | $2,765,582 CAD (2024) |
| Land Assessment | $4,073,506 CAD (2024) | Total Assessment | $6,839,089 CAD (2024) |
PROPERTY TAXES
Parcel Number
5141-019-011
Land Assessment
$4,073,506 CAD (2024)
Improvements Assessment
$2,765,582 CAD (2024)
Total Assessment
$6,839,089 CAD (2024)
zoning
| Zoning Code | R4, Los Angeles |
| R4, Los Angeles |
-
Rich Johns -
Nick Astrupgaard -
KW Commercial
1 of 9
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
40 Units | $123,759 Per Door | 6.4% Cap | 717 S Westlake Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.