Value-Add Multifamily Near Downtown
For Sale
$3,350,000
Pending
400 Witmer St, Los Angeles, CA 90017
MULTI_FAMILY - Los Angeles, CA
Property Size9,800 SF
Lot Size0.16 Acres
Days on Market725
Property Features for 400 Witmer St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LACW
Bedrooms
9
Bathrooms
24
Full bathrooms
2
Rooms
Bathroom 4, Bedroom 2, Bedroom 6, Bathroom 6, Bathroom 24, Bathroom 1, Bedroom 4, Bathroom 12, Bathroom 17, Bathroom 9, Bathroom 14, Bedroom 8, Bathroom 5, Bedroom 5, Bathroom 10, Bathroom 23, Bathroom 8, Bedroom 1, Bathroom 19, Bathroom 3, Bathroom 11, Bedroom 7, Bathroom 13, Bedroom 3, Bathroom 2, Bathroom 15, Bathroom 22, Bathroom 21, Bathroom 18, Bathroom 7, Bathroom 16, Bedroom 9, Bathroom 20
Directions
400 Witmer is 1.5 miles from Echo Park Lake and the heart of Downtown LA. Located just south of West 3rd St, the property is in close proximity to Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy.
Subdivision
Downtown L.A.
Standard status
Pending
APN
5153-025-012
Size
9,800 SF
Lot size
0.16 Acres
Building Details
Year built
1924
Floors in Building
2
Number of units
24
Listing Agency:
Compass
(310) 230-5478
Listed By:
Max Berger · License #02054048
(818) 321-4972
Added: Aug 5, 2024
Changed: Jul 29
Last Checked: Jul 30 at 10:06PM
MLS# 24-424029
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is a 9,800 square foot, two-story complex built in 1924, featuring nine one-bedroom units and fifteen studio units. Located 1.4 miles south of Echo Park Lake and the heart of Downtown LA, the property is situated just south of W. 3rd St, offering close proximity to Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy. The property is a value-add opportunity with approximately 42% rental upside with a vacant studio unit. Tenants are responsible for their own electrical utilities, and the building is master metered for gas. This 24-unit complex is part of the Witmer 4, which consists of 84 units across 4 buildings within one block of Witmer St. The intended use of the property is multifamily residential. The lot size is 0.1566 acres.
Key Highlights
- Significant value‑add opportunity with approximately 42% rental upside and a vacant studio unit.
- High potential stabilized CAP rate of 11.58% and GRM of 5.99 at projected market rents.
- Offered at a 6.98% CAP and 8.41 GRM on current rents.
Property Analytics
Property Profile
Current Use
Lease Details
24
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
11,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 90017, CA
27,295
Population
15,953
Households
1.7
Avg Household Size
33
Median Age
36%
College-Educated
72%
High-School Grad
0.7 sq mi
ZIP Area
38,993
Density / Sq Mi
$51,317
Median Household Income
$35,076
Median Earnings
$1,669
Median Rent
$675,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 24-unit complex near Echo Park with significant rental upside.
Where is this apartment building located?
The property is located at 400 Witmer St Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: Significant value‑add opportunity with approximately 42% rental upside and a vacant studio unit.; High potential stabilized CAP rate of 11.58% and GRM of 5.99 at projected market rents.; Offered at a 6.98% CAP and 8.41 GRM on current rents.
