About 138 S Westmoreland Avenue
138 S Westmoreland Ave | 33-Unit Value-Add Multifamily, Los Angeles. The property is a 1926-built asset totaling 18,604 SF on a 7,922 SF lot in Rampart Village, on the northern edge of Koreatown and within walking distance of the Metro B Line. It features (31) studio units averaging 445 SF and (2) 1+1 units at 625 SF. Twenty-eight units are currently occupied, and 21 of them rent below market. Four long-term tenancies dating to 20052011 sit 34%67% below the $1,395 studio market rent, and four vacant studios are ready to lease at market. Offered at $3,400,000 ($103,030/unit | $182.76/SF) with a 6.30% current cap rate, the real story is the rent-to-market gap a 7.71% pro forma cap and an entry roughly 12.7% below the ~$118K/unit average of recent comparable sales.
Features of 138 S Westmoreland Avenue
| MLS® # | 26993013 |
|---|---|
| Price | $3,400,000 |
| Bedrooms | 1 |
| Bathrooms | 2.00 |
| Square Footage | 18,604 |
| Acres | 0.18 |
| Year Built | 1926 |
| Type | Residential Income |
| Status | Active |
Community Information
| Address | 138 S Westmoreland Avenue |
|---|---|
| Area | C17 - Mid-Wilshire |
| City | Los Angeles |
| County | Los Angeles |
| Zip Code | 90004 |
Amenities
| Parking | None |
|---|---|
| Garages | None |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | None |
|---|---|
| Cooling | None |
| Has Basement | No |
| Fireplace | No |
| Stories | Multi/Split |
Additional Information
| Date Listed | September 8th, 2026 |
|---|---|
| Days on Market | 22 |
| Zoning | LAR3 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Taylor Avakian |
|---|---|
| Office | Lyon Stahl Investment Real Estate, Inc. |