401 S Witmer St | Los Angeles, CA 90017
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- LoopNet Team
401 S Witmer St
Los Angeles, CA 90017
20 Units @ 7.28% CAP & 8.96 GRM - Witmer 4 · Multifamily Property For Sale
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20 Units
Investment Highlights
- 401 Witmer is a 20 unit value-add complex located 1.4 miles south of Echo Park Lake and the heart of Downtown LA.
- Offered at a 7.28% CAP and 8.96 GRM on current rents, $165,000 per unit, and $376 per foot.
- All tenants pay their own electricity and gas utilities.
- 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.
- 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% C
- 401 Witmer, which can be purchased individually, is part of the Witmer 4 - 84 units across 4 buildings within 1 block of Witmer St.
Property Facts
| No. Units | 20 | Lot Size | 0.14 AC |
| Property Type | Multifamily | Building Size | 8,776 SF |
| Property Subtype | Apartment | Average Occupancy | 90% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1924 |
| Zoning | LAR3 - Commercial | ||
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 8,776 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1924 |
| Zoning | LAR3 - Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
- Recycling
- Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,759 | - |
| Studios | 14 | $1,289 | - |
Property Taxes
| Parcel Number | 5153-026-018 | Improvements Assessment | $711,140 |
| Land Assessment | $2,389,439 | Total Assessment | $3,100,579 |
Property Taxes
Parcel Number
5153-026-018
Land Assessment
$2,389,439
Improvements Assessment
$711,140
Total Assessment
$3,100,579
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