280 Witmer St

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Address: 280 Witmer St, Los Angeles, CA 90026, USA
California & West + Apartment Buildings
Created date: May 12, 2026
Date last updated: May 12, 2026
Price: $2,650,000Investment Analyzer NEW!

23-Unit Value-Add Opportunity with 35% Rental Upside!
True Value-Add Basis: ±$115,200/Unit & $221/SQFT.
Strong In Place CAP Rate and GRM of ±7.38% & ±7.94x.
Major Capital Improvements Completed: Partial roof replacement (pitched portion), copper plumbing, new gas wall heaters, updated horizontal drain lines, 100-gallon water boiler and complete electrical panel upgrade.
Smart Water Management: DrizzleX system installed to monitor and optimize water usage across units, reducing operating costs and increasing efficiency.
Vacancy Flexibility: (1) Studio Unit (Contact Agents for Showing)
Proven Rental Performance: In-place rents have historically performed at or above market levels within the Westlake submarket.
Prime Westlake Location: Adjacent to Downtown LA, Chinatown, Silverlake, Echo Park, MacArthur Park & Koreatown.
Major Employment Hubs Nearby: Good Samaritan Hospital, Ritz Carlton, Hilton, LA Financial District, Fashion & Arts District, Crypto Arena, LA Convention Center.
Strong Transit & Accessibility: 3rd & Witmer Bus Stop, Westlake/MacArthur Park Subway Station, 7th St/Metro Center Light Rail Station, and easy access to 101 & 110 Freeways.
High-Growth Area: Positioned in a rapidly densifying corridor with ~198 units of adjacent development by West Hollywood Community Housing Corp., along with the nearby, City-approved Centro Westlake mixed-use high-rise at MacArthur Park Station, bringing new housing, office, hotel, and retail demand drivers to the immediate area.

Property Description

Growth Investment Group is proud to present the sale of 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 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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Broker Details

Han Widjaja Chen
Han Widjaja Chen

Growth Investment Group (626) 594-4900

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings
Price: $2,650,000
No. of Units: 23
Cap Rate: 7.38%
GRM /GIM: 7.96
Year Built: 1927
Building Size: 12,000 Sq ft
Opportunity Zone: No
Price per unit: $115,217
Address: 280 Witmer St, Los Angeles, CA 90026, USA

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