$3,350,000

400 Witmer Street, Los Angeles, CA 90017

9,800 sqft

other
Built in 1924
6,970sqft lot
—— car garage
$342/sqft
Listed 1 year ago

Property Description

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 Status:: Pending
Date Added:: August 5, 2024
Data Last Updated:: April 17, 2026 at 2:08PM
Listing Office:: Compass : 310-230-5478
Listing Agent:: Max Berger : 818-321-4972
MLS ID:: CL24424029

Heating: Wall Furnace

Parking: None

County: Los Angeles

Zoning: LACW5153025012
View: None

This listing courtesy of Max Berger , Compass

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

Gratts Learning Academy for Young Scholars (GLAYS)

309 Lucas Ave, Los Angeles, CA, 90017

Grades 2-6

0.09 miles away

Sal Castro Middle School

1575 W 2nd St, Los Angeles, CA, 90026

Grades 6-8

0.25 miles away

Miguel Contreras Learning Complex - Academic Leadership Community

322 Lucas Ave, Los Angeles, CA, 90017

Grades 9-12

0.14 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.