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450 Witmer St, Los Angeles, CA 90017
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450 Witmer St Los Angeles, CA 90017

$3,126,000 Sold Price as of 01/10/2023
  • 0 Beds
  • 24 Baths
  • 11,817 Sq.Ft.
Sold
$3,126,000 Sold Price as of 01/10/2023 Refinance Your Mortgage
Map preview of 450 Witmer St, Los Angeles, CA 90017

Property Overview: 450 Witmer St Los Angeles, CA has -- bedrooms, 24 bathrooms, 11,817 living square feet and 5,571 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by Neema Ahadian | BRE #01346750 | Marcus & Millichap
Last checked: 10 minutes ago | Last updated: June 5th, 2023 | Source CRMLS | DOM: 119

Home details

Lot Sq. Ft
5,571
HOA Dues
$0/mo
Year built
1924
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22199335
City
Los Angeles
County
Los Angeles
Time on Site
658 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 24
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 24
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $940
  • Total Rent: $22,553
  • Pro Forma/Market Rent: $1,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.34%
  • Gross Rent Multiplier: 11.78
  • Gross Scheduled Income: --
  • Net Operating Income: $138,882
  • Gross Operating Income: $263,448
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 450 Witmer St

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Natural Gas
Kitchen Information
  • Has Appliances
  • Refrigerator
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Total # of Units: 24
  • Parcel Number: 5153024001
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Location / Neighborhood
Location Information
  • Directions: Located just north of 6th St
View more facts & features

Local Los Angeles Agent

Sale History for 450 Witmer St

Last sold for $3,126,000 on January 10th, 2023

  • January, 2023

  • Jan 10, 2023

    Date

    Sold

    CRMLS: 22199335

    $3,126,000

    Price

  • Aug 22, 2022

    Date

    Active

    CRMLS: 22199335

    $3,200,000

    Price

  • February, 2010

  • Feb 1, 2010

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • December, 2009

  • Dec 30, 2009

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 450 Witmer St

Assessed Value (2020): $1,593,390
Year Land Value Improved Value Assessed Value
2020 $590,144 $1,003,246 $1,593,390

Home Value Compared to the Market

This property vs the competition

450 Witmer St sold on January 10, 2023 for 151.18% higher than the current median sold price for the city of Los Angeles which is $1,274,000. The median sold price per/sqft for Los Angeles is $791 and this home is sold at $270.8 per/sqft which puts the price per square foot 65.77% lower than the current median sale per square foot for the city of Los Angeles.

About 450 Witmer St

Detailed summary of property

450 Witmer St is a multi family that recently sold in Los Angeles, CA 90017. This multi family property offered -- bedrooms, 24 bathrooms, roughly 11,817 living square feet, and sits on an approximately 5,571 square foot lot. 450 Witmer St was first listed on ArdentRealEstateGroup.com on September 13, 2022. The homeowner sold the property for $3,126,000. Home in Los Angeles are selling for a median price of $1,274,000 and a median price per square foot of $791. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 151.18% higher than the current median priced home. Local homes that are currently for sale include 343 S Occidental Blvd, 2506 W Sunset Blvd and 1146 S Elden Ave. While the average home in Los Angeles, CA is selling in 100 days, 450 Witmer St has a days on market of 119 days. There are currently 3938 homes for sale in the Los Angeles real estate market and 2648 of them are single family homes while 1176 of them are condos and 106 are townhomes. For more information on this home for sale at 450 Witmer St Los Angeles, CA 90017 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 450 Witmer St

Public county record property details
Beds
--
Baths
--
Year built
1924
Sq. Ft.
11,817
Lot Size
5,571
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1
APN
5153-024-001

The source for these homes facts are from public records.

90017 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$639,999
Median List Price/Sq.Ft.
$745
Median Sold Price
$690,000
Median Sold Price/Sq.Ft.
$602
Total Inventory
99
Median Sale to List Price %
89.03%
Avg Days on Market
89
Loan Type
Conventional (28.57%), FHA (0%), VA (0%), Cash (14.29%), Other (14.29%)

Thinking of Selling?

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(714) 706-1823

Homes for Sale Near 450 Witmer St

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Recently Sold Homes Near 450 Witmer St

410 Witmer St, Los Angeles, CA 90017
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0 Beds
20 Baths
7999 Sq.Ft.
410 Witmer St
Los Angeles, CA 90017
329 Witmer St, Los Angeles, CA 90017
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-- Sq.Ft.
329 Witmer St
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325 Witmer St, Los Angeles, CA 90017
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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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