$ 3,350,000
-
$3,350,000
Price -
1
Bed -
2
Bath -
9,800
SqFt
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About the Listing CLW-X81461 - CLW-C135509
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 Highlights for 400 Witmer St
Status
Pending
Days on Site
397
Property Type
Multi-Family
MLS ®
24424029
Year Built
1924
Total Square Footage
9,800
Lot/Acreage
0.16
County
Los Angeles
Area
C42 - Downtown L.A.
Interior Details
- Bedrooms: 1
- Bathrooms: 2 Full
- Appliances:
- Air Cond:
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: LACW
- Roof:
- Others: 2+ Total Units
- Sewer:
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5153025012
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
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Listing Location
Questions About..
400 Witmer St Los Angeles, CA 90017
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