450 Witmer Street, Los Angeles, CA 90017

About this property

The 450 Witmer St, a 24-unit value-add apartment building in the Westlake neighborhood of Los Angeles. The property features a unit mix of 24singles totaling 11,817 gross SF. At the asking price, the property is being offered for a low $133,333 price per unit and $270 price per square foot.This is an opportunity for an investor to further increase cashflow and capture an additional 38% in rental income through interior renovation of units.High Walk Score of 93, close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. The property is within walking distance to Good Samaritan Hospital. This neighborhood in Westlake is ideally located with a short commute to Downtown and Koreatown. Proximity to MacArthur Park, Echo Park, Dodger Stadium, and The Broad Museum provide residents with ample employment and entertainment opportunities.

Listing description from the January 2023 sale, as reported to CRMLS.

Sale history

$3,126,000

Sold January 2023 · listed $3,200,000, on market August 2022 · MLS #22199335 · Source: CRMLS

Listing Agent: Neema Ahadian · Listing Office: Marcus & Millichap · Contact: 213-943-1800 · Bought with: Neema Ahadian · Marcus & Millichap

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