680 Witmer St Los Angeles, CA 90017

This exceptional 34-unit apartment building at 680 Witmer St, Los Angeles, CA 90017 presents a compelling investment opportunity. The property, built in 1916, boasts a total of 21,308 net rentable square feet across four stories, situated on a 6,229 square foot lot (APN: 5143-020-017). The building comprises a desirable unit mix of 24 single-occupancy units and 10 one-bedroom units. Currently generating a NOI of $242,780, with a pro-forma NOI of $420,845, this property offers a significant upside potential. The asking price is $4,550,000, translating to $133,823.53 per unit and $730.45 per square foot. The current cap rate stands at 5.34%, with a pro-forma cap rate projected at 9.25%. Recent improvements include a new elevator, and the property benefits from individually metered gas for added tenant convenience and owner value. Its prime location offers easy access to major freeways (101, 110, and 10), placing it within minutes of the Los Angeles Convention Center, Crypto.com Arena, Loyola Law School, and various shopping and transit options. The property's proximity to these amenities and its location on a transit route make it highly attractive to renters, ensuring strong occupancy rates. The permitted zoning is LACW. This is a rare opportunity to acquire a well-located, value-add multifamily asset in a thriving Los Angeles neighborhood with substantial rental upside.