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280 Witmer

Los Angeles, CA 90026
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$2,500,000 $10,540/Mo
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Bed 1

Bed

Bath 2

Bath

SqFt7,710

Sqft(Lot)

The Witmer Apartments (280 Witmer St), a 23-unit value-add multifamily opportunity located in the heart of the rapidly evolving Westlake submarket of Los Angeles. Offered at a competitive basis of $115,200 per unit and $221 per square foot, the property features a strong in-place CAP rate of ±7.38% and GRM of 7.96x, providing immediate cash flow with substantial upside potential. The property offers approximately ±35% rental upside, with in-place rents that have historically performed at or above market levels within the Westlake submarket. This presents investors with a compelling opportunity to acquire a well-performing asset with clear pathways to increase revenue through unit renovations and operational improvements. Built in 1927, The Witmer Apartments consist of 23 units totaling ± 12,000 square feet on a ±7,710 square foot lot, featuring an efficient unit mix of (22) studios and (1) one-bedroom unit. Units average approximately ±450–500 square feet (buyer to verify) and offer functional layouts that align with strong rental demand in the area. Ownership has completed significant capital improvements, including copper plumbing, a complete electrical panel upgrade, partial roof replacement (pitched portion), updated horizontal drain lines, new gas wall heaters, and a 100-gallon boiler. These upgrades reduce near-term capital expenditure risk, allowing investors to focus on executing a unit renovation strategy and capturing rental upside. Additional value-add opportunities include two vacant basement rooms with potential for storage or laundry income, as well as an underutilized rooftop with direct access and views of Downtown Los Angeles, offering potential for conversion into a tenant amenity space (buyer to verify).

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $2,500,000

AD Id : 90492307

MLS Id : AR26080904

Beds : 1

Lot Size : 7,710 Sqft

Year Built : 1927

County : Los Angeles

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Feature Features

  • Building Information

    Year Built: 1927
    Building Area Total: 12000
    Pool Features: None
    Private Pool: No

  • Lot Information

    Main Square Feet: 7710 Lot Size Acres: 0.177 Lot Size Source: Assessor Lot Size Square Feet: 7,710 Lot Description: NoLandscaping

  • Listing Price Information

    Listing Price: $2500000
    Original Price: $2650000
    Cash, CashToNewLoan

  • Tax Information

    Parcel Number: 5153028009 Tax Lot: 9 Tax Block: 1

  • Location Information

    Direction: West of the 110 and just north of 3rd St WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
315 Firmin, Los Angeles, CA, 90026 $780,000 8 4 -- 3,860 Sqft
2531 2535 Elsinore Street, Los Angeles, CA, 90026 $1,270,000 5 5 -- 6,736 Sqft

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The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 09/02/2026 @ 22:14

MLS: AR26080904 LISTED BY: Justin McCardle, Growth Investment Group Pasade 626-594-4900 SOURCE: CRMLS

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