140 S Westmoreland Ave
Multifamily | 7 Units | $299,286/unit
Marketing description
$400,000 Price Reduction! 10.01% Proforma cap rate! 9.99 Proforma GRM!
Kidder Mathews is pleased to present the opportunity to acquire 140 South Westmoreland Avenue, a well-located multifamily investment in the Wilshire Center submarket of Los Angeles. The property consists of a 7-unit apartment community situated on a 7,916 square foot LAR3- zoned lot, offering both stable in-place income and a compelling
long-term value-add strategy.
Constructed in 1982, the property benefits from favorable rent control characteristics, falling under AB 1482 rather than LA RSO, allowing for annual rent increases of 5% plus CPI. The existing unit mix includes a combination of one- and two-bedroom floor plans, many of which have been upgraded, providing immediate upside through continued rent
growth and operational optimization.
A key differentiating feature of this offering is the ability to develop up to six new ground-up ADUs in the rear portion of the lot, subject to buyer verification and approvals. The existing site layout, lot size, and zoning create a rare opportunity to meaningfully increase unit count and cash flow without disturbing the primary residential structure. Upon stabilization, the addition of the ADUs has the potential to significantly enhance overall yield, improve long-term asset value, and create a more scalable income stream in one of Los Angeles’ most supply constrained rental markets.
Located at the intersection of Koreatown and Little Bangladesh, the property benefits from exceptional centrality, with close proximity to Downtown Los Angeles, Hollywood, Silver Lake, Echo Park, and major employment hubs. Tenants enjoy access to public transportation, freeway connectivity, dining, retail, and cultural amenities, all of which continue to drive strong rental demand in the immediate area.
140 S. Westmoreland Avenue presents investors with a rare combination of defensive in-place income, regulatory advantages, and a clearly defined development upside, making it an attractive opportunity for both long-term holders and value-add oriented buyers.
Investment highlights
$400,000 Price Reduction! Motivated Seller
10.01% proforma cap rate | 9.99 proforma GRM
7-unit multifamily property situated on a 7,916 SF LAR3-zoned lot
Constructed in 1982 – subject to AB 1482, allowing annual rent increases of 5% + CPI
No LA Rent Control- Not subject to Los Angeles Rent Stabilization Ordinance (RSO)
Significant value-add opportunity to develop up to six new ground-up ADUs in the rear parking area (buyer to verify)
On-site parking with approximately 12 spaces (tandem configuration)
Gated property access with controlled entry
On-site laundry facilities
Located in the Wilshire Center / Koreatown corridor, one of Los Angeles’ most densely populated and renter-oriented submarkets
Proximity to Downtown LA, Hollywood, Silver Lake, Echo Park, and major transit corridors
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