NOT LISTED FOR SALE

450 Witmer St Los Angeles, CA 90017

Westlake Neighborhood
-- Bed
24 Baths
11,817 Sq Ft
5,571 Sq Ft Lot

Last Sold January 10, 2023

Last sale price $3,126,000 $265 Per Sq Ft

119 Days on Market

About This Home

As of January 2023

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.

Last Agent to Sell the Property

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 08/22/2022

Last Buyer's Agent

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 08/22/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1924

Lot Details

  • 5,571

Home Design

  • 11,817 Sq Ft Home

Additional Features

  • Oven or Range
  • 24 Bathrooms
  • 5,571 Sq Ft Lot
  • Heating System Uses Natural Gas

Community Details

  • 24 Units
  • Vacancy Allowance $8,148

Listing and Financial Details

  • Assessor Parcel Number 5153-024-001

Property Details

Home Type

Multi-Family

Year Built

Built in 1924

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 11817
  • Lot Acreage: 0.1279
  • Year Built: 1924
  • Number Of Photos: 1
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Total Bathrooms: 24.00
  • Equipment: Range/Oven, Refrigerator
  • Price Per S Q F T: 270.80

Exterior Features

  • Other Structures: None

Utilities

  • Heating: Natural Gas

Lot Info

  • Assessed Improvement Percent: 62.96
  • Assessed Improvement Value: 1013639
  • Assessed Land Percent: 37.04
  • Assessed Land Value: 596257
  • Total Assessed Value: 1609896
  • Assessor Parcel Number: 5153-024-001
  • Lot Size Area: 5571

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 11.78
  • Number Of Units: 24
  • Total Annual Expense: 124566
  • Type Of Units: Singles
  • Vacancy Allow: 8148
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: 0

Range of Values:

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Average Value
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List Price
Sold Price
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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
01/10/2023 01/10/23 Sold $3,126,000 -2.3% $265 / Sq Ft
12/19/2022 12/19/22 Pending -- -- --
08/22/2022 08/22/22 For Sale $3,200,000 -- $271 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • N

    Seller's Agent in 2023

    Neema Ahadian

    Marcus & Millichap

    (213) 943-1800

    6 in this area

    88 Total Sales

    Neema Ahadian
    Section Image
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Map

Source: The MLS

MLS Number: 22-199335

The MLS
California Los Angeles County Los Angeles 90017 Westlake

450 Witmer St, Los Angeles, CA

This home is located at 450 Witmer St, Los Angeles, CA 90017 since 22 August 2022. This property was built in 1924. 450 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.

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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