2025 3rd, Los Angeles CA 90057 | $12,999,000
Listing provided courtesy of Logan Altman of Altman Apartments LLC. Last updated 2026-08-26 08:28:18.000000. Listing information © 2026 SANDICOR.
The iconic Royal Viking — a 62-unit Westlake mixed-use value-add: 59 efficiency studios plus 3 ground-floor commercial spaces, fully gut-renovated in 2024 with 21 newly built units and all residential units registered and legal with LAHD. Offered at a 6.68% in-place cap rising to a 7.27% pro forma on all-charges income (rents, parking, laundry and utility reimbursement). Rare rent flexibility: 7 non-rent-controlled units plus an active legacy hotel license for short-term / hospitality optionality. Amenities include 47 on-site parking spaces, a pool and a resort-style roof deck. Sited on a large +/-39,907 SF (0.92-acre) R4-1/C2-1 transit-adjacent parcel — significant long-term density, ADU and redevelopment upside beyond the 19,995 SF of improvements. Additional upside through commercial lease-up, studio mark-to-market and full parking utilization. Steps to the Metro B/D lines. A rare combination of in-place cash flow, operational flexibility and development optionality in supply-constrained Westlake.
More Details
3 Stories
Business Type: Florist/Nursery
Business Type: Restaurant
Asset Class: Retail
Asset Class: Multi-Family
Natural Gas Connected
Sewer Connected
Electricity Connected
Water Connected
