Value-Add Multifamily in Los
For Sale
$3,300,000
Pending
401 Witmer St, Los Angeles, CA 90017
MULTI_FAMILY - Los Angeles, CA
Property Size8,776 SF
Lot Size0.14 Acres
Days on Market725
Property Features for 401 Witmer St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LAR3
Bedrooms
6
Bathrooms
20
Full bathrooms
2
Rooms
Bathroom 4, Bedroom 2, Bedroom 6, Bathroom 6, Bathroom 1, Bedroom 4, Bathroom 12, Bathroom 17, Bathroom 9, Bathroom 14, Bathroom 5, Bedroom 5, Bathroom 10, Bathroom 8, Bedroom 1, Bathroom 19, Bathroom 3, Bathroom 11, Bathroom 13, Bedroom 3, Bathroom 2, Bathroom 15, Bathroom 18, Bathroom 7, Bathroom 16, Bathroom 20
Directions
401 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
5153-026-018
Size
8,776 SF
Lot size
0.14 Acres
Amenities
community laundry
gated entry
Building Details
Year built
1924
Floors in Building
2
Number of units
20
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 11:06PM
MLS# 24-424053
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 at 401 Witmer St, Los Angeles, is a 20-unit complex located 1.4 miles south of Echo Park Lake and the heart of Downtown LA. Situated just south of W. 3rd St, the property is near Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy. Constructed in 1924, the two-story complex has 8,776 square feet and consists of six 1-bedroom units and fourteen studio units. This property is a value-add opportunity with approximately 25% rental upside with two vacant studio units. All tenants are responsible for their own electricity and gas utilities. Property amenities include community laundry and gated entry. The property is part of the Witmer 4, which includes 84 units across four buildings within one block of Witmer St. The Witmer 4 is being sold in conjunction with 1000 N. Serrano, a 24-unit complex in East Hollywood.
Key Highlights
- Built in 1924: 8,776 SF, two‑story 20‑unit value‑add multifamily complex
- Unit mix includes (6) 1‑bedroom units and (14) studio units
- Current financials on current rents: 7.28% cap rate and 8.96 GRM; $165,000 per unit; $376 per foot
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
90%
Occupancy
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 - 20-unit complex near Downtown LA with rental upside.
Where is this apartment building located?
The property is located at 401 Witmer St Los Angeles, CA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Built in 1924: 8,776 SF, two‑story 20‑unit value‑add multifamily complex; Unit mix includes (6) 1‑bedroom units and (14) studio units; Current financials on current rents: 7.28% cap rate and 8.96 GRM; $165,000 per unit; $376 per foot
