400 Witmer Street, Los Angeles CA, 90017

Pending

400 Witmer Street

Los Angeles CA, 90017

$3,350,000

$341.84 per sqft

Pending

9 Beds

24 Baths

9,800 sqft

Residential

Built in 1924

Listed by Max Berger with Compass 818-321-4972

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.

24424029

MLSⓇ ID

August 5, 2024

Listed

December 5, 2024

Updated

Map

400 Witmer Street
Los Angeles CA, 90017

Interior Features

Total Stories: 2
Bedrooms: 9
Total Bathrooms: 24
Laundry Description: Common Area
Fireplace: No
Cooling: No
Heating: Yes
Heating Description: Wall Furnace

Exterior/Building Features

Lot Size: 0.16 Acres

Other Property Details

Area Name: C42 - Downtown L.A.
Days on Market: 4
Garage: No
Parking: None
Parking Total: 0
View: No
View Description: None
County: Los Angeles
Pool: No
Zoning: LACW

Listing History

Date	Event	Price
8/9/2024	Pending	—

Listing Contact: 310-230-5478

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 12/5/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 12/5/2024 at 6:22 AM UTC