20-Unit Multifamily Apartment
For Sale
$3,150,000
401 Witmer St, Los Angeles, CA 90017
Two-story 1923 apartment community with studio and one-bedroom units, featuring renovated interiors and current vacancies.
Property Size8,776 SF
Lot Size0.14 Acres
Price / SF$358.93
Days on Market108
Property Features for 401 Witmer St
General Information
Standard status
Active
Size
8,776 SF
Lot size
0.14 Acres
Property subtype
MULTI_FAMILY
Zoning
LAR3
Occupancy
80%
Additional Details
Cap Rate
6.59%
Highway Access
Yes
Multifamily Units
20
Building Details
Year Built
1924
Stories
2
Tenancy
Multi
Listing Agency:
Kidder Mathews of California, Inc.
Listed By:
Casey Lins
Source:
Milsteinestates
Added: Apr 14
Changed: Jul 10
Last Checked: Jul 29 at 11:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kidder Mathews of California, Inc.
Investment Insights
Based on property information with market context.
The property at 401 Witmer St is a 20-unit multifamily community comprising one two-story building totaling 8,776 rentable square feet. Built in 1923, it sits on a 6,020 square foot midblock lot zoned LAR3. The unit mix includes six one-bedroom, one-bath units and fourteen studio units. Renovation work has been completed in fourteen of the sixteen units previously occupied, and there are currently four vacant units: one one-bedroom unit and three studio units.
The building is located off Witmer St and W 3rd St in the North West Lake neighborhood of Los Angeles. The listing notes nearby Gratts Elementary School and Contreras High School, along with close access to the 101, 110, and 10 freeways and multiple Metro stations. Downtown Los Angeles and nearby communities including Silver Lake, Echo Park, Elysian Heights, Koreatown, and others are described as readily accessible.
For buyers or operators, the current unit configuration—with a mix of studios and one-bedrooms plus renovation-completed units—supports straightforward leasing strategy across multiple renter types. Listing materials also provide underwriting benchmarks, citing an offered 8.71 GRM and 6.59% CAP on actual rents, along with an indicated upside to 8.55 GRM and 6.80% CAP based on market rents.
The building is located off Witmer St and W 3rd St in the North West Lake neighborhood of Los Angeles. The listing notes nearby Gratts Elementary School and Contreras High School, along with close access to the 101, 110, and 10 freeways and multiple Metro stations. Downtown Los Angeles and nearby communities including Silver Lake, Echo Park, Elysian Heights, Koreatown, and others are described as readily accessible.
For buyers or operators, the current unit configuration—with a mix of studios and one-bedrooms plus renovation-completed units—supports straightforward leasing strategy across multiple renter types. Listing materials also provide underwriting benchmarks, citing an offered 8.71 GRM and 6.59% CAP on actual rents, along with an indicated upside to 8.55 GRM and 6.80% CAP based on market rents.
Key Highlights
- 20‑unit Los Angeles multifamily community built in 1923, comprising 8,776 rentable SF
- Unit mix includes 14 studio units and 6 one‑bedroom units; 4 units are currently vacant (3 studios, 1 one‑bedroom)
- Renovated interiors: 14 of 16 units reportedly renovated
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
80%
Occupancy
Multi-tenant
Tenancy
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 - Two-story 1923 apartment community with studio and one-bedroom units, featuring renovated interiors and current vacancies.
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 $3,150,000.
What are key features of this property?
This property features: 20‑unit Los Angeles multifamily community built in 1923, comprising 8,776 rentable SF; Unit mix includes 14 studio units and 6 one‑bedroom units; 4 units are currently vacant (3 studios, 1 one‑bedroom); Renovated interiors: 14 of 16 units reportedly renovated
