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401 Witmer St, Los Angeles, CA 90017

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For Sale
Sale Pending

$3,300,000

6 beds8,776 sqft

Estimated Payment

$      /mo.

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $376.03
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

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.
MLS# 24-424053

Courtesy Of Compass

(310) 230-5478

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other

Map and Directions

Directions to 401 Witmer St, Los Angeles, CA 90017
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