20-Unit Apartment Building with Gated
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 Market752
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 8, Bathroom 15, Bedroom 5, Bathroom 17, Bathroom 18, Bathroom 13, Bathroom 4, Bedroom 6, Bathroom 20, Bedroom 3, Bathroom 5, Bedroom 4, Bedroom 1, Bathroom 3, Bathroom 11, Bathroom 2, Bathroom 6, Bathroom 7, Bathroom 12, Bathroom 9, Bathroom 19, Bedroom 2, Bathroom 10, Bathroom 14, Bathroom 16, Bathroom 1
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: Aug 2
Last Checked: Aug 26 at 6:06AM
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.
401 Witmer is a 20-unit, two-story apartment complex built in 1924. The 8,776 SF property includes (6) 1-bedroom units and (14) studio units, with 2 vacant studio units. Tenants pay their own electricity and gas utilities. On-site amenities include community laundry and a gated entry.
The property is located just south of W. 3rd St and about 1.4 miles south of Echo Park Lake, with proximity to Echo Park, Silver Lake, Koreatown, and the 101 Fwy and 110 Fwy.
The offering is positioned as a value-add opportunity, with underwriting based on current rents and a projected stabilized outcome. The current-rents metrics are 7.28% cap rate and 8.96 GRM, with projected stabilization at a 9.92% cap rate and 7.17 GRM. 401 Witmer can be purchased individually and is part of the Witmer 4 portfolio (84 units across 4 buildings within 1 block of Witmer St).
The property is located just south of W. 3rd St and about 1.4 miles south of Echo Park Lake, with proximity to Echo Park, Silver Lake, Koreatown, and the 101 Fwy and 110 Fwy.
The offering is positioned as a value-add opportunity, with underwriting based on current rents and a projected stabilized outcome. The current-rents metrics are 7.28% cap rate and 8.96 GRM, with projected stabilization at a 9.92% cap rate and 7.17 GRM. 401 Witmer can be purchased individually and is part of the Witmer 4 portfolio (84 units across 4 buildings within 1 block of Witmer St).
Key Highlights
- 20‑unit, two‑story apartment complex with (6) 1‑bedroom units and (14) studio units, including 2 vacant studio units
- 8,776 SF complex on a 0.136‑acre lot, built in 1924
- Gated entry and community laundry on site
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
9,610
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 apartment building with community laundry, gated entry, and tenant-paid electricity and gas utilities.
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: 20‑unit, two‑story apartment complex with (6) 1‑bedroom units and (14) studio units, including 2 vacant studio units; 8,776 SF complex on a 0.136‑acre lot, built in 1924; Gated entry and community laundry on site
