NOT LISTED FOR SALE

407 Witmer St Los Angeles, CA 90017

Westlake Neighborhood
8 Beds
8 Baths
4,700 Sq Ft
1923 Built

Last Sold December 19, 2017

Last sale price $1,100,000 $234 Per Sq Ft

8 Days on Market

About This Home

As of December 2017

8 bungalow style units in prime area just west of Downtown LA with 25% upside in rents.  Below market rents and long-term tenants allow significant upside for the new buyer.  Separately metered for electricity and gas, the new ownership will enjoy a great tenant profile in a low maintenance and nicely maintained property.  Each resident enjoys the quaint 1 bedroom, 1 bath bungalow style unit with lots of Spanish architecture and charm in both interior and exterior.  Located just west of Downtown LA in an transitioning area with plenty of large and new developments, the opportunity to acquire this cash flow property will not last long.  Priced for a quick sale at only $1,100,000 ($137,500 door).

Last Agent to Sell the Property

Brian Gordon

Lotus Property Services, Inc. License #01302670 Listed on: 11/01/2017

Last Buyer's Agent

Eliza Kerndian

Keller Williams Beverly Hills License #01398836

Keller Williams Beverly Hills

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 5,992 Sq Ft Lot
  • Two or More Common Walls

Home Design

  • Property Attached

Interior Spaces

  • 4,700 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Bathrooms

Additional Features

  • Exterior Lighting
  • Property is near public transit

Listing and Financial Details

  • Tax Lot 16
  • Assessor Parcel Number 5153026020

Community Details

Overview

  • 5 Buildings
  • 8 Units

Building Details

  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $566
  • Insurance Expense $2,118
  • Maintenance Expense $2,206
  • Pest Control $453
  • Professional Management Expense $3,727
  • Trash Expense $28
  • Water Sewer Expense $10,063
  • New Taxes Expense $12,430
  • Operating Expense $31,783
  • Gross Income $76,067
  • Net Operating Income $42,762

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Professional Management Expense: 3727.00
  • Property Attached: Yes
  • Water Sewer Expenses: 10063.00
  • Zoning: LAR3
  • Property Type: Residential Income
  • Parcel Number: 5153026020
  • Year Built: 1923
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 1
  • Common Walls: 2+ Common Walls
  • Levels: One
  • Price Per Square Foot: 234.04

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: No
  • Pest Control Expense: 453.00
  • Sewer: Public Sewer
  • Trash Expense: 28.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Near Public Transit
  • Lot Size Sq Ft: 5992.00

Multi Family

  • Electric Expense: 566.00
  • Gross Income: 76067.00
  • Gross Scheduled Income: 76067.00
  • Insurance Expense: 2118.00
  • Maintenance Expense: 2206.00
  • Net Operating Income: 42762.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Operating Expense: 31783.00
  • Rent Control: Yes
  • Total Expenses: 31783.00

Tax Info

  • New Taxes Expense: 12430.00
  • Tax Census Tract: 2091.03
  • Tax Lot: 16

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/19/2017 12/19/17 Sold $1,100,000 0.0% $234 / Sq Ft
11/09/2017 11/09/17 Pending -- -- --
11/09/2017 11/09/17 For Sale $1,100,000 0.0% $234 / Sq Ft
11/07/2017 11/07/17 Off Market $1,100,000 -- --
11/01/2017 11/01/17 For Sale $1,100,000 -- $234 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Brian Gordon

    Seller's Agent in 2017

    Brian Gordon

    Lotus Property Services, Inc.

    (626) 582-8001

    16 Total Sales

    Brian Gordon
    Section Image
  • Eliza Kerndian

    Buyer's Agent in 2017

    Eliza Kerndian

    Keller Williams Beverly Hills

    (310) 482-2500

    3 in this area

    30 Total Sales

    Eliza Kerndian
    Section Image
See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: AR17248800

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Los Angeles 90017 Westlake

407 Witmer St, Los Angeles, CA

This home is located at 407 Witmer St, Los Angeles, CA 90017 since 01 November 2017. This property was built in 1923. 407 Witmer St is a home located in Los Angeles County with nearby schools including John H. Liechty Middle School, Academic Leadership Community Miguel Contreras Learning Complex, and Belmont High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

Nearby Homes