680 Witmer StLos Angeles, CA 90017

Property Details for 680 Witmer St

Year built

1916

Construction

TILT-UP CONCRETE

Lot size

0.14 AC

Property size (Sq ft)

21,308 SF

Zone code

LACW

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

5143-020-017

APU

5143020017

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $7,793,336

  6.5%

  $7,193,848

  7%

  $6,680,002

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,280,490

  Geo Method

  $6,280,490

• Alternative Use

  Use

  Valuation

  Residential

  $7,193,848

  Hospitality

  $6,589,526

  Educational

  $5,482,408

  Medical

  $5,670,957

  Retail

  $8,528,191

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0528

Longitude

-118.267

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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