400 Witmer Street, Los Angeles, CA 90017 - Berkshire Hathaway HomeServices California Properties

400 Witmer Street, Los Angeles, CA 90017

$3,350,000 Approx. USD 9 beds, 24 baths
9,800 sqft

Listing Agent


Max Berger | max@kennystevensteam.com
Lic#: 02054048
Broker: Courtesy of Compass

Agent Remarks

400 Witmer is a 24 unit value-add complex located 1.4 miles south of Echo Park Lake and the heart of Downtown LA. Located just south of W. 3rd St, the property is in close proximity to Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy. The property is offered at 6.98% CAP and 8.41 GRM on current rents, $139,583 per unit, and $342 per foot. This significant value-add opportunity presents approx. 42% rental upside with a VACANT studio unit. At projected market rents, the property will stabilize at a 11.58% CAP and 5.99 GRM. Built in 1924, the 9,800 SF two-story complex consists of (9) 1-bdrm. units and (15) studio units. Tenants pay their own electrical utilities and the building is master metered for gas. 400 Witmer, which can be purchased individually, is part of the Witmer 4 - 84 units across 4 buildings within 1 block of Witmer St. The Witmer 4 is being in sold in conjunction with 1000 N. Serrano, a 24-unit complex in East Hollywood offered at a 6.75% CAP on real expenses.Please contact LA 1 for more information.

Listing Details

Property type: (Multi-Family)
Status: Pending
MLS# 24424029
Price: $3,350,000
Beds: 9
Baths: 24
Built in 1924
9,800 sqft
2 stories
0.16 acres
Lot size: 0.1566
County: Los Angeles
Zoning: LACW
Parking description: None
Heating description: Wall Furnace
MLS area: C42 - Downtown L.A.

Last Updated: 12/6/2024

 Days On Market (DOM): 4

 Find more Los Angeles homes and real estate

 Find more homes in 90017 zip code

This listing belongs to the C42 - Downtown L.A. MLS area

Lat/Long: 34.057857, -118.263831.
Find nearby listings

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

90017 Area Map

Demographics

Schools

Near by

Similar Listings