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280 Witmer St
Los Angeles, CA 90026
23-unit Value Add with est. 9% Proforma CAP · Multifamily Property For Sale
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23 Units
Investment Highlights
- 23-Unit PRIME Value-Add Opportunity with Proforma CAP Rate of 9%; Priced to sell! Low Price Per Unit!!! ±$151K/Unit
- STRONG Westlake Submarket! Perfectly adjacent to Downtown Los Angeles, Chinatown, Silverlake, Echo Park, MacArthur Park, and Koreatown.
- Recent capital improvements: copper plumbing, new gas wall heaters, recently painted exterior, new horizontal drain lines, and etc.
- Can be delivered with 2 vacancy for immediate turnover!
- Walk Score of 92 (Walkers Paradise); Efficient Unit Mix with (22) Studios and (1) 1-Bedroom 1-Bathroom; Large Studios of about ±500sf (buyer to verify
- Underutilized rooftop with easy access providing beautiful views of Downtown Los Angeles. Could possibly be converted into a Tenant Common Area
Property Facts
| No. Units | 23 | Lot Size | 0.18 AC |
| Property Type | Multifamily | Building Size | 12,000 SF |
| Property Subtype | Apartment | Average Occupancy | 91% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built/Renovated | 1927/2022 |
| Zoning | RC4 (CW) U/3 | ||
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 12,000 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built/Renovated | 1927/2022 |
| Zoning | RC4 (CW) U/3 |
Amenities
Unit Amenities
- Cable Ready
- Heating
- Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 22 | - | 533 |
| 1+1 | 1 | - | 708 |
Property Taxes
| Parcel Number | 5153-028-009 | Improvements Assessment | $850,343 |
| Land Assessment | $753,629 | Total Assessment | $1,603,972 |
Property Taxes
Parcel Number
5153-028-009
Land Assessment
$753,629
Improvements Assessment
$850,343
Total Assessment
$1,603,972
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