Homes for sale - 401 Witmer St, Los Angeles, CA 90017

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Jeffrey Payatt

jpayatt@gmail.com +1(805) 886-2324

$ 3,300,000

Est. payment | -/mo

6 Beds

20 Baths

8,776 SqFt

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$ 3,300,000

Est. payment | -/mo

Save

6 Beds

20 Baths

8,776 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Square Footage 8,776 sqft

Price per Sqft $376

MLS Listing ID 24-424053

Bedrooms 6

Year Built 1924

Lot Size 5,922 Sqft

Property Description

401 Witmer is a 20 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 a 7.28% CAP and 8.96 GRM on current rents, $165,000 per unit, and $376 per foot. This value-add opportunity offers approx. 25% rental upside with 2 VACANT studio units. At projected market rents, the property will stabilize at a 9.92% CAP and 7.17 GRM. Built in 1924, the 8,776 SF two-story complex consists of (6) 1-bdrm. units and 14) studio units. All tenants pay their own electricity and gas utilities. Property amenities include community laundry and gated entry. 401 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.

Location

State CA

County Los Angeles

Area Downtown L.A.

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Other

Equipment Other

Laundry Community

Exterior

Garage None

View Y/N No

View None

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Compass

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(805) 886-2324

jpayatt@gmail.com

401 Witmer St Los Angeles, CA 90017

Jeffrey Payatt

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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401 Witmer St