735 Witmer St
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735 Witmer St
8 Unit Apartment Building $1,400,000 ($175,000/Unit) 6.10% Cap Rate Los Angeles, CA 90017
Investment Highlights
- UNIT MIX: THREE 0+1 & FIVE 1+1 UNITS
- NEW EXTERIOR PAINT
- LARGE PARKING AREA
- FIVE UNITS HAVE BEEN RECENTLY RENOVATED
- ADU POTENTIAL (BUYER TO VERIFY)
- MASTER METERED FOR GAS & ELECTRICITY
Executive Summary
The unit mix consists of three 0+1 and five 1+1 units. The investment consists of approximately 4,435 of rentable square feet and is situated on an approximately 6,616 square foot parcel. Recent property upgrades include new exterior paint, new exterior lighting, new exterior building numbers, and five of the units have recently been renovated. The building amenities include a large parking area with eight total spaces, and the property is master metered for both gas & electricity.
Call/email Griffin White for complete package. PLEASE NOTE THE FOLLOWING: 1) DO NOT DISTURB THE TENANTS 2) Interior Inspection/Books & Records Granted with an Accepted Offer. 3) Submit Proof of Funds & Pre-Qualification Letter with Offer. Broker/agent do not guarantee the accuracy of the square footage, lot size, development potential, or any other information concerning the conditions or features of the property provided by the Seller or obtained from public records or other sources. Buyer is advised to independently verify and complete own due diligence to verify accuracy of all information through physical and personal inspections and with appropriate professionals.
Call/email Griffin White for complete package. PLEASE NOTE THE FOLLOWING: 1) DO NOT DISTURB THE TENANTS 2) Interior Inspection/Books & Records Granted with an Accepted Offer. 3) Submit Proof of Funds & Pre-Qualification Letter with Offer. Broker/agent do not guarantee the accuracy of the square footage, lot size, development potential, or any other information concerning the conditions or features of the property provided by the Seller or obtained from public records or other sources. Buyer is advised to independently verify and complete own due diligence to verify accuracy of all information through physical and personal inspections and with appropriate professionals.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,400,000 | Apartment Style | Low Rise |
| Price Per Unit | $175,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.10% | Building Size | 4,435 SF |
| Gross Rent Multiplier | 9.41 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1904/2010 |
| Property Subtype | Apartment |
| Price | $1,400,000 |
| Price Per Unit | $175,000 |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| Gross Rent Multiplier | 9.41 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,435 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1904/2010 |
Site Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
1 of 1
Walk Score ®
Walker's Paradise (92)
Transit Score ®
Rider's Paradise (95)
Bike Score ®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 5143-012-018 | Improvements Assessment | $582,624 |
| Land Assessment | $624,240 | Total Assessment | $1,206,864 |
PROPERTY TAXES
Parcel Number
5143-012-018
Land Assessment
$624,240
Improvements Assessment
$582,624
Total Assessment
$1,206,864
zoning
| Zoning Code | LAR3 (Limited Density Multiple Residence) |
| LAR3 (Limited Density Multiple Residence) |
-
Ian Hollinger -
Griffin White -
Sam Grayeli -
BRC Advisors - BH, Inc.
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735 Witmer St
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