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401 S Witmer St
Los Angeles, CA 90017 Westlake North

$3,300,000 USD

Apartments For Sale  •  8,776 SF

Property Details

  • Property Type Apartments
  • Total Building Size 8,776 SF
  • Lot Size 0.14 AC
  • Building Class C
  • Year Built 1924
  • Zoning LAR3
93 Transit Score
91 Walk Score

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.
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.
Offered at a 7.28% CAP and 8.96 GRM on current rents, $165,000 per unit, and $376 per foot.
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
All tenants pay their own electricity and gas utilities.
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 Flyers

Amenities

  • Air Conditioning
  • Laundry Facilities
  • Heating
  • Recycling
  • Kitchen
  • Refrigerator
  • Range
  • Tub/Shower
  • Lounge

Public Transportation

Commuter RailDriveWalkDistance
Los Angeles (Coast Starlight - Amtrak, Pacific Surfliner - Amtrak, Southwest Chief - Amtrak, Texas Eagle - Amtrak) 5 min - 2.4 mi
Union Station (91 Line - Southern California Regional Rail Authority (Metrolink), Antelope Valley Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink), Riverside Line - Southern California Regional Rail Authority (Metrolink), San Bernardino Line - Southern California Regional Rail Authority (Metrolink), Ventura County Line - Southern California Regional Rail Authority (Metrolink)) 7 min - 2.4 mi
Transit/SubwayDriveWalkDistance
Grand Ave Arts / Bunker Hill Station (Metro A-Line - Metro - Los Angeles, Metro E-Line - Metro - Los Angeles) 2 min 17 min 0.9 mi
7Th Street/Metro Center Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro), Expo Line - Los Angeles County Metropolitan Transportation Authority (Metro), Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 18 min 1.0 mi
Westlake/Macarthur Park Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro)) 2 min 19 min 1.0 mi
AirportDriveWalkDistance
Los Angeles International 25 min - 14.8 mi
Bob Hope 24 min - 15.7 mi
Long Beach (Daugherty Field) 31 min - 23.1 mi
Kenny Stevens 310-940-8749 Compass
Kenny Stevens 310-940-8749 Compass