$2,600,000
411 Witmer Street Los Angeles, CA 90017
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$2,600,000
Est. payment /mo
8,586 SqFt
Active
411 Witmer Street Los Angeles, CA 90017
UPDATED:
10/29/2024 06:38 PM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,586 sqft
Price per Sqft $302
MLS Listing ID CL24406337
HOA Y/N No
Year Built 1940
Lot Size 0.278 Acres
Acres 0.28
Property Description
Bring all offers for this 12-unit gated courtyard styled apartment building with an assumable loan that is fixed at a 3.350% interest rate until May 2027! 411 Witmer Street is located in the thinly traded Westlake sub-market of LA. The property features an ideal unit mix of (2) 2 Bed/1 Bath & (10) 1 Bed/1 Bath units, and 12 on-site, gated, and reserved parking for each unit which is a huge premium for this neighborhood that lacks parking. Tenants have separate parking leases for their assigned parking spaces which brings in substantial additional monthly income. The property is being offered at an attractive 11.04x GRM and 6.11% cap rate on current rents and operating expenses. For tenant safety, conveniently located just 1 block from LAP Rampart Station, and 1/2 mile from LAFD Station 11. Tenants also enjoy being just a couple of blocks away (less than 1 mile) and walking distance to all of the amenities that Downtown LA has to offer such as Crypto.com Arena, LA Live, LA Convention Center, The Novo, Peacock Theatre, and tons of new restaurants and dining. This easy to manage asset was completely re-piped to new copper plumbing throughout, new sewer lines, a 30-year shingle roof, brand new noise canceling vinyl windows for all 12 units, a re-painted exterior, and the foundation w
Location
State CA
County Los Angeles
Area Listing
Zoning LAR3
Interior
Heating Electric, Wall Furnace
Fireplace No
Appliance Dryer
Laundry Dryer, Washer
Exterior
Parking Type Assigned
Building
New Construction No
Others
Tax ID 5153026023
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Jonathan Rawson • Avenue Realty Group
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