CA > Los Angeles
Los Angeles, CA 90017,400 Witmer St
Los Angeles, CA 90017,400 Witmer St
Los Angeles, CA 90017,400 Witmer St
7
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$3,350,000
Est. payment /mo
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9 BD
24 BA
9,800 SqFt
Pending

400 Witmer St Los Angeles, CA 90017

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Chan Wathen

Chan Wathen

+1(702) 461-7869

UPDATED:

08/09/2024 09:07 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Square Footage 9,800 sqft

Price per Sqft $341

MLS Listing ID 24-424029

Bedrooms 9

Year Built 1924

Lot Size 6,821 Sqft

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.

Location

State CA

County Los Angeles

Area Downtown L.A.

Zoning LACW

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Other

Equipment Other

Laundry Community

Exterior

Parking Features None

View Y/N No

View None

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

TheMLS (CLAW)
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

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agent

Chan Wathen

REALTOR ® | RE.NV Lic.# S.59111

+1(702) 461-7869

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400 Witmer St