401 Witmer St
Los Angeles, CA 90017

$3,300,000

Price

Beds

Baths

8,776 Sq. Ft.

$376 / Sq. Ft.

8,776

Sq. Ft.

$376

per Sq. Ft.

Listed By CompassPending

a view of a white house with a yard and tree s

Description

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. The property is offered at a 7.28% CAP and 8.96 GRM on current rents, $165,000 per unit, and $376 per foot. This value-add opportunity offers approx. 25% rental upside with 2 VACANT studio units. At projected market rents, the property will stabilize...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. The property is offered at a 7.28% CAP and 8.96 GRM on current rents, $165,000 per unit, and $376 per foot. This 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% CAP and 7.17 GRM. Built in 1924, the 8,776 SF two-story complex consists of (6) 1-bdrm. units and 14) studio units. All tenants pay their own electricity and gas utilities. Property amenities include community laundry and gated entry. 401 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.

Property Details for 401 Witmer Street

Zoning

LAR3

Cross Streets

W. 3rd St. and Witmer St.

Parcel Number

5153026018

Total Units

20.0

Living Area

8776

Source Living Area

Vendor Enhanced

Area

Downtown L.A. (C42)

Vacancy Rate

2 Units

LISTING UPDATED: 08/09/2024 02:06 PM

Property Details for 401 Witmer Street

Status	Pending
MLS #	24-424053
Days on Market	4
Taxes	-
HOA Fees	-
Condo/Co-op Fees	-
Compass Type	Multi Family
MLS Type	Residential Income
Year Built	1924
Lot Size	0.14 AC / 5,922 SF
County	Los Angeles County

Location

Listing Courtesy of Compass, Max Berger, DRE #02054048

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Building Information for 401 Witmer Street

Stories2Residences-Year Built1924Building Size-Lot Size0.14 AC / 5,922 SF

Payment Calculator

$19,511 per month

30 year fixed, 6.28% Interest

Principal and Interest

$16,306

Property Taxes

$3,205

HOA Dues

The Payment Calculator is for illustrative purposes only.

Property Information for 401 Witmer Street

Community / Development

Number Of Units: 20
Senior Community: No

Structure Info

Year Built Source: Vendor Enhanced
Number Of Stories: 2

Number Of Buildings: 1
Type Of Units: Apartments
View: No
View Description: None
View: None
Security Features: Gated
Direction Faces: East

Contract Info

Disclosures: As Is
Listing Type: Exclusive Agency

Service Level: Full Service

Income & Expenses Information

Scheduled Actual: Actual
Gross Operating Income: $359,295

Net Operating Income: $240,282.00
Gross Income: $365,508
Gross Scheduled Income: $365,508
Cap Rate: 7.28%
Gross Rent Multiplier: $8.96
Financial Info as Of: 08/05/2024
Total Annual Expense: 119014

Land / Lot Info

Additional Parcel Number: No
Lot Size Square Feet: 5922

Parking Details

Parking Garage: None
Total Parking: 0

Parking Features: None

Interior Features

Levels: Two
Cooling: Other/Remarks

Cooling Type: Other
Heating: Wall Furnace
Heating Type: Wall
Equipment: Other
Common Walls: Attached
Laundry: Community

Exterior Features

New Construction: No
Other Structures: None

Lease Terms

Entry Date: 08-05-2024
Rent Control: Yes

Rent Control: 100

Unit Details

Unit 1 Information

Unit Beds: 1
Unit Baths: 1

Unit Furnished: No
Unit Rent: $1,768.00
Unit Actual Rent: $10,608.00
Unit Projected Rent: $14,400.00
Like Units: 6

Unit 2 Information

Unit Beds: 0
Unit Baths: 1

Unit Furnished: No
Unit Rent: $1,418.00
Unit Actual Rent: $19,861.00
Unit Projected Rent: $25,200.00
Like Units: 14

Unit Details

Unit Type Type: 2106, 2107

Property History for 401 Witmer Street

Date	Event & Source	Price	Appreciation
Nov 17, 2025	Hold SDMLS #24-424053		—
Aug 9, 2024	Pending CLAW #24-424053		—
Aug 9, 2024	Pending SDMLS #24-424053		—
Aug 9, 2024	Pending CRMLS #24424053		—
Aug 5, 2024	Listed (Active) SDMLS #24-424053	$3,300,000	—
Aug 5, 2024	Listed (Active) CRMLS #24424053	$3,300,000	—
Aug 5, 2024	Listed (Active) CLAW #24-424053	$3,300,000	—
Jun 5, 2018	Sold (Public Record) Public Record #623822841	$2,725,000	+16.8% / yr
Feb 6, 2015	Sold (Public Record) Public Record #487777019	$1,625,000	+7.2% / yr
Aug 21, 2013	Expired CRMLS #13653287	$1,595,000	—
Aug 20, 2013	Expired CLAW #13-653287	$1,595,000	—
Feb 20, 2013	Listed (Active) CRMLS #13653287	$1,695,000	—
Feb 20, 2013	Listed (Active) CLAW #13-653287	$1,695,000	—
Jun 16, 2009	Sold (Public Record) Public Record #270872414	$1,100,000	-5.2% / yr
May 12, 2009	Sold CRMLS #CC223659	$1,165,000	—
May 12, 2009	Sold CRMLS #P674549	$1,165,000	—
May 12, 2009	Sold CLAW #P674549MR	$1,165,000	—
Apr 2, 2009	Pending CRMLS #P674549		—
Apr 2, 2009	Pending CLAW #P674549MR		—
Mar 5, 2009	Expired CRMLS #Y800083	$1,399,999	—
Mar 5, 2009	Expired CLAW #Y800083MR		—
Feb 5, 2009	Listed (Active) CRMLS #P674549	$1,250,000	—
Feb 5, 2009	Listed (Active) CLAW #P674549MR	$1,250,000	—
Feb 5, 2009	Listed (Active) CRMLS #CC223659	$1,250,000	—
Jan 9, 2009	Withdrawn / Cancelled CLAW #Y807598MR		—
Jan 9, 2009	Withdrawn / Cancelled CRMLS #Y807598	$1,299,900	—
Nov 25, 2008	Listed (Active) CLAW #Y807598MR	$1,299,900	—
Nov 25, 2008	Listed (Active) CRMLS #Y807598	$1,299,900	—
Nov 25, 2008	Listed (Active) CRMLS #CC239660	$1,299,900	—
Jan 3, 2008	Listed (Active) CRMLS #Y800083	$1,399,999	—
Jan 3, 2008	Listed (Active) CLAW #Y800083MR	$1,399,999	—
Jan 3, 2008	Listed (Active) CRMLS #CC239432	$1,399,999	—
Aug 30, 2005	Sold CLAW #05-024601	$1,350,000	—
Aug 15, 2005	Sold (Public Record) Public Record #162476877	$1,350,000	+39.1% / yr
Jul 15, 2005	Pending CLAW #05-024601		—
May 11, 2005	Listed (Active) CLAW #05-024601	$1,410,000	—
Nov 5, 2002	Sold CRMLS #H231884	$540,000	—
Nov 5, 2002	Sold CLAW #H231884MR	$540,000	—
Nov 4, 2002	Sold (Public Record) Public Record #102372141	$540,000	—
Jul 30, 2002	Pending CLAW #H231884MR		—
Jul 30, 2002	Pending CRMLS #H231884		—
Jul 18, 2002	Listed (Active) CLAW #H231884MR	$550,000	—
Jul 18, 2002	Listed (Active) CRMLS #H231884	$550,000	—

Date	Event & Source	Price
11/17/2025	Hold SDMLS #24-424053	—
08/09/2024	Pending CLAW #24-424053	—
08/09/2024	Pending SDMLS #24-424053	—
08/09/2024	Pending CRMLS #24424053	—
08/05/2024	Listed (Active) SDMLS #24-424053	$3,300,000
08/05/2024	Listed (Active) CRMLS #24424053	$3,300,000
08/05/2024	Listed (Active) CLAW #24-424053	$3,300,000
06/05/2018	Sold (Public Record) Public Record #623822841	$2,725,000 +16.8% / yr
02/06/2015	Sold (Public Record) Public Record #487777019	$1,625,000 +7.2% / yr
08/21/2013	Expired CRMLS #13653287	$1,595,000
08/20/2013	Expired CLAW #13-653287	$1,595,000
02/20/2013	Listed (Active) CRMLS #13653287	$1,695,000
02/20/2013	Listed (Active) CLAW #13-653287	$1,695,000
06/16/2009	Sold (Public Record) Public Record #270872414	$1,100,000 -5.2% / yr
05/12/2009	Sold CRMLS #CC223659	$1,165,000
05/12/2009	Sold CRMLS #P674549	$1,165,000
05/12/2009	Sold CLAW #P674549MR	$1,165,000
04/02/2009	Pending CRMLS #P674549	—
04/02/2009	Pending CLAW #P674549MR	—
03/05/2009	Expired CRMLS #Y800083	$1,399,999
03/05/2009	Expired CLAW #Y800083MR	—
02/05/2009	Listed (Active) CRMLS #P674549	$1,250,000
02/05/2009	Listed (Active) CLAW #P674549MR	$1,250,000
02/05/2009	Listed (Active) CRMLS #CC223659	$1,250,000
01/09/2009	Withdrawn / Cancelled CLAW #Y807598MR	—
01/09/2009	Withdrawn / Cancelled CRMLS #Y807598	$1,299,900
11/25/2008	Listed (Active) CLAW #Y807598MR	$1,299,900
11/25/2008	Listed (Active) CRMLS #Y807598	$1,299,900
11/25/2008	Listed (Active) CRMLS #CC239660	$1,299,900
01/03/2008	Listed (Active) CRMLS #Y800083	$1,399,999
01/03/2008	Listed (Active) CLAW #Y800083MR	$1,399,999
01/03/2008	Listed (Active) CRMLS #CC239432	$1,399,999
08/30/2005	Sold CLAW #05-024601	$1,350,000
08/15/2005	Sold (Public Record) Public Record #162476877	$1,350,000 +39.1% / yr
07/15/2005	Pending CLAW #05-024601	—
05/11/2005	Listed (Active) CLAW #05-024601	$1,410,000
11/05/2002	Sold CRMLS #H231884	$540,000
11/05/2002	Sold CLAW #H231884MR	$540,000
11/04/2002	Sold (Public Record) Public Record #102372141	$540,000
07/30/2002	Pending CLAW #H231884MR	—
07/30/2002	Pending CRMLS #H231884	—
07/18/2002	Listed (Active) CLAW #H231884MR	$550,000
07/18/2002	Listed (Active) CRMLS #H231884	$550,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 401 Witmer Street

Taxable ValueLand$2,389,439Additions$717,180Total$3,106,619

Tax Record2025$38,464 ($3,205 / month)

Home Facts

Total Finished SqFt8,776 SqFtAbove Grade Finished SqFt8,776 SqFtLot Size5,992 SqFtStyleMulti-Family Res (5+ Units)Year Built1924ZoningLAR3CountyLOS ANGELESAPN5153-026-018

Schools near 401 Witmer Street

This home is within Los Angeles Unified School District.


Rating	School	Type	Grades	Distance
7/10	Gratts Learning Academy For Young Scholars (GLAYS)	Public - Serves this home	K to 5	0.1 mi
3/10	John H. Liechty Middle School	Public - Serves this home	6 to 8	0.4 mi
3/10	Contreras Learning Center-School Of Social Justice	Public - Serves this home	9 to 12	0.2 mi
3/10	Contreras Learning Center-Los Angeles School Of Global Studies	Public - Serves this home	9 to 12	0.2 mi
5/10	Miguel Contreras Learning Complex School	Public - Serves this home	9 to 12	0.2 mi
4/10	Academic Leadership Community School	Public - Serves this home	9 to 12	0.2 mi
NR	American University Preparatory School	Private - Nearby school	9 to 12	0.6 mi
NR	Icl Academy for Film and Performing Arts	Private - Nearby school	9 to 12	0.6 mi
NR	Our Lady Of Loretto Elementary School	Private - Nearby school	K to 8	0.6 mi


Rating	School	Distance
7/10	Gratts Learning Academy For Young Scholars (GLAYS) PublicK to 5 Serves this home	0.1 mi
3/10	John H. Liechty Middle School Public6 to 8 Serves this home	0.4 mi
3/10	Contreras Learning Center-School Of Social Justice Public9 to 12 Serves this home	0.2 mi
3/10	Contreras Learning Center-Los Angeles School Of Global Studies Public9 to 12 Serves this home	0.2 mi
5/10	Miguel Contreras Learning Complex School Public9 to 12 Serves this home	0.2 mi
4/10	Academic Leadership Community School Public9 to 12 Serves this home	0.2 mi
NR	American University Preparatory School Private9 to 12 Nearby school	0.6 mi
NR	Icl Academy for Film and Performing Arts Private9 to 12 Nearby school	0.6 mi
NR	Our Lady Of Loretto Elementary School PrivateK to 8 Nearby school	0.6 mi

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Max Berger, DRE #02054048

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

401 Witmer StLos Angeles, CA 90017

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401 Witmer St
Los Angeles, CA 90017