717 South Westlake Avenue is a 40-unit apartment building located in the redeveloping and quickly gentrifying location of Westlake, just west of downtown Los Angeles. The property is steps away from Wilshire Boulevard, Alvarado Street, MacArthur Park, and the metro station. Constructed in 1924, the three-story building was constructed of reinforced brick and is situated on a street to alley lot.
The property has a unit mix featuring 33 studios with a bathroom and a kitchen, as well as seven units that are one-bedroom, one-bathroom with a kitchen. The certificate of occupancy from 1923 states that the property contains 36 units, and another was issued in 1987 stating that a portion of the basement was converted to three light housekeeping units and one efficiency dwelling unit. The property is individually metered for gas and the current owner has made upgrades to several of the units.
The property has a walk score of 96 which is incredibly high and is defined as “Walker’s Paradise”, as it is a two-minute walk to the Metro Purple Line and Red Line.
Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc.
In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing.aspx
South Bay Los Angeles Office
2321 Rosecrans Avenue, Suite 3235
El Segundo, California 90245 // T. 424.239.5900
© 2019 :: Berkadia
Berkadia® is a trademark of Berkadia Proprietary Holding LLC.