725 S Westlake Ave | Los Angeles, CA 90057
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725 S Westlake Ave
Los Angeles, CA 90057
Olympic Hotel · Multifamily Property For Sale · 172 Units
Investment Highlights
- The Olympic is a unique 172-room apartment building and hotel located in the heart of Westlake between 7th and 8th Street
- Built in 1925, the Olympic was originally a hotel which has been partially converted to include 31 apartment units and 141 weekly rentals
- All 172 rooms are 150 square foot singles with private bathrooms
- Adjacent to MacArthur Park; a location just over one mile to Downtown Los Angeles that is surrounded by new developments, employment and education...
- 82% of the building is rented weekly for a rate of $225 per week plus a $25 key deposit, with up to three weeks stay
- Prime opportunity to acquire a 172-room building in Westlake with a projected 7.06% CAP rate when fully occupied at market rates
PROPERTY FACTS
| No. Units | 172 | Building Size | 45,088 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1925 |
| Apartment Style | Mid Rise | Parking Ratio | 0.26/1,000 SF |
| Building Class | C | Corridor | Interior |
| Lot Size | 0.34 AC |
| No. Units | 172 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 45,088 SF |
| No. Stories | 4 |
| Year Built | 1925 |
| Parking Ratio | 0.26/1,000 SF |
| Corridor | Interior |
PROPERTY TAXES
| Parcel Number | 5141-019-013 | Improvements Assessment | $10,098,000 |
| Land Assessment | $8,160,000 | Total Assessment | $18,258,000 |
PROPERTY TAXES
Parcel Number
5141-019-013
Land Assessment
$8,160,000
Improvements Assessment
$10,098,000
Total Assessment
$18,258,000
zoning
| Zoning Code | R4-2 |
| R4-2 |
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