Kidder Mathews is proud to present a rare opportunity to acquire The Piccadilly, a true architectural icon nestled in the heart of Koreatown at 682 Irolo Street. This distinctive 7-story, 74-unit building, constructed in 1929, was designed by renowned architect Milton M. Friedman in the elegant Chateauesque style. One of the building’s most notable features is its iconic neon "P" sign, which lights up the city skyline as a timeless symbol of the property’s prominence. Meticulously maintained with extensive renovations, The Piccadilly still offers significant value-add potential. The property features a versatile unit mix, including 6 efficiency units, 29 studios, 29 one-bedroom/one-bath units, 1 one-bedroom/ one-and-one-half bath unit, 8 two-bedroom/two-bath units, and 1 three-bedroom/two-and-one-half bath unit, catering to a wide range of tenants. Inside, the building exudes classic elegance with a stunning lobby, hardwood floors, two beautiful courtyards with tiled walls and water features, Tudor archways, and a rooftop terrace offering breathtaking views of the city. Additional features include box beam ceilings in the entry hall and 19 on-site parking spaces. The spacious units are well-designed with favorable floor plans, and while many have been updated over time, there remains an opportunity for further renovations to increase rental value. Enhancing common areas and implementing RUBS for utility chargebacks also offer avenues to boost income. Ideally located in the vibrant Koreatown district, The Piccadilly is surrounded by world-class dining, entertainment, cultural landmarks, and shopping. Tenants enjoy excellent transit access, with the Wilshire/Normandie and Wilshire/Western Metro stations just a short distance away, and Wilshire Boulevard only a block away. With its rich history, striking architectural significance, and substantial potential for further value creation, The Piccadilly represents an exceptional investment opportunity in one of Los Angeles’ most coveted neighborhoods. *Concrete building with wooden floors. Owner is pursuing exemption for the retrofit.