UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV26097517
HOA Y/N No
Year Built 1905
Lot Size 6,608 Sqft
Property Sub-Type Triplex
Property Description
The property features a two-building configuration totaling 11 units, offering both stable in-place income and operational flexibility. The main structure is a two-story, 3,520 square foot apartment building comprised of 10 units (8 studios and 2 one-bedroom/one-bath units). Complementing the apartment building is a separate 1,342 square foot single-family residence (addressed as 741 Witmer St), configured for two tenants and featuring 4 bedrooms and 2.5 bathrooms, creating an additional income stream and unique value-add potential.
Ideally situated, the property offers close proximity to major employment centers, public transportation, shopping, dining, entertainment venues, parks, and cultural institutions. The surrounding area continues to attract young professionals, students, and creatives, driving consistent rental demand and long-term growth.
With an in-place cap rate of 6.36%, the asset delivers day-one cash flow, while presenting a clear path to increased returns through rental repositioning, light renovations, and optimized management. The property has been well-maintained over the years. The property's layout and location also make it well-suited for both traditional and alternative rental strategies, including co-living or furnished rentals.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAR3
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Fence Wrought Iron
Pool None
Community Features Street Lights, Sidewalks, Urban
View Y/N No
View None
Roof Type Shingle
Total Parking Spaces 4
Private Pool No
Building
Lot Description Corner Lot
Story 2
Entry Level Two
Foundation Raised
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5143012011
Energy Description 1676.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
