400 Witmer Street, Los Angeles, CA 90017 | MLS #24424029 | Berkshire Hathaway HomeServices Troth, REALTORS®
Berkshire Hathaway HomeServices Troth Realtors ®

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Listing provided courtesy of CompassMLS# 24424029MLS Provider
  • 680 days on site
  • 0 views

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.

Source: CRISNET, MLS#: 24424029

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  • Property Type
    Residential Income
  • Lot
    0.16 acres

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  • Median Age
    32
  • Population Density
    38,321
  • College Educated
    38%
  • Estimated Median Income
    $36,870
  • Estimated Total Home Owners
    630
  • Estimated Total Renters
    11,308
  • Owner / Renter Divide
    5% / 95%
  • Estimated Average Household Size
    2
  • Total Population
    27,832
  • Community data courtesy of LiveBy, Inc.

Owning this Home

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 400 Witmer Street

Schools


School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.