Description

1217 Westerly Terrace is a rare value-add multifamily opportunity in Los Angeles, CA. This four-unit apartment building, constructed in 1967 and encompassing 4,043 square feet, is currently 50% occupied, offering an investor the flexibility to renovate, lease up and reposition. With a classic mid-century façade and solid structural bones, this property is primed for enhancements that will drive immediate cash flow and long-term appreciation.

Offered at $1,595,000 ($394.51 per square foot), the asset delivers an in-place net operating income of $94,132, reflecting a 5.9% cap rate. Present average in-place rents of $2,311 per unit stand well below local market rents of approximately $4,000, creating substantial upside potential. Upon stabilization, the projected NOI increases to $133,964—yielding an 8.4% cap rate—while the gross rent multiplier improves from 12.51 to a more attractive 9.46. Investors will benefit from both immediate cash flow and the opportunity to capture rental rate growth in one of the nation’s most dynamic rental markets.

Strategically located in the heart of Los Angeles, 1217 Westerly Terrace offers tenants easy access to employment centers, transit corridors and neighborhood amenities. With strong demand for quality housing throughout the city, this asset represents a compelling addition to any multifamily portfolio. Don’t miss your chance to acquire a cornerstone investment with significant value-add potential.