410 Witmer St · Los Angeles, CA 90017

$1,995,000

None bd · 20.0 ba · 7,999 sqft · MultiFamily public records · 44 Days on market

Built 1928 9,072 sqft lot $249/sqft · at area comps Est $2004k · at est. ↓ 49% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.7/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +1.3/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

410 Witmer Street is a 20-unit, wood-frame building with a raised foundation and twelve (12) parking spots, located in a rapidly evolving submarket of Los Angeles, just west of Downtown Los Angeles. The offering represents a compelling value-add opportunity with strong in-place cash flow and significant rental upside, with a new roof and recently upgraded electrical that makes it ideally suited for investors seeking both yield and long-term appreciation. The property consists of a two-story, wood-frame building with a raised foundation, totaling 7,999 rentable square feet on a 9,072 square foot LACW-zoned mid-block lot. Originally constructed in 1928, the asset features a unit mix of twenty (20) studio units and benefits from twelve (12) uncovered on-site tandem parking spaces, an exceptional parking ratio for the area and a meaningful competitive advantage in this dense urban submarket. 410 Witmer Street is currently operating at a 7.64 GRM and a 6.55% cap rate on in-place rents, with a clear path to increased cash flow through a strategic value-add program. By implementing interior renovations, improving operational efficiencies, and capturing mark-to-market rent potential, a new owner can achieve a projected 6.39 GRM and 10.28% cap rate upon stabilization. Situated near the intersection of Witmer Street and W 3rd Street, the property offers excellent connectivity to the 101, 110, and 10 freeways, as well as multiple Metro transit lines. The location benefits from its proximity to high-demand rental neighborhoods including Echo Park, Silver Lake, Elysian Heights, and Koreatown, all of which continue to experience strong tenant demand driven by their access to employment centers, lifestyle amenities, and cultural hubs. 410 Witmer Street presents a rare opportunity to acquire a well-located, income-producing asset with a favorable parking ratio and a clear roadmap to unlocking additional value in one of Los Angeles' most dynamic rental corridors.

Key facts

• Raised foundation
• Wood frame building
• 9,072 sq ft lot

Tags

• WOOD FRAME BUILDING
• RAISED FOUNDATION
• TANDEM PARKING SPACES
• EXCELLENT CONNECTIVITY

What this means for you Summary

Snapshot

• This is a 20 × 2-bed/?-bath units multifamily listed at $2.00M.

Deal economics

• At list price, monthly cash flow is $21k ($254k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($43k rent vs $2.00M).
• Recommended offer: $1.94M (3.0% below list) — sets the bar for market timing.
• Cap rate 19.0% vs local median 2.1% in Los Angeles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, schools D+, crime F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.9%/yr); 121 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $43,195/mo this rent would consume 983% of the median local household income ($53k/yr) (locally 4819% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $14k of loan paydown is wiped out by about $60k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $559k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($1.94M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $1.48M; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,935,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.17% ✓
• Cap rate: 19.05%
• Cash-on-cash: 45.54%
• DSCR: 3.03
• GRM: 3.8

CMA / ARV

• ARV (median comp): $2,003,711
• List price: $1,995,000
• Delta: -0.43%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 S Bonnie Brae St	0.48mi	12/14.0	6,989 (-13%)	14mo	$1,162,500	$166	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 39.3%
• Equity multiple: 2.61×
• Total profit: $900,526
• Equity at exit: $297,461

10-year hold

• IRR: 44.3%
• Equity multiple: 4.64×
• Total profit: $2,034,130
• Equity at exit: $172,491

Cash invested: $558,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 90017

• Home prices YoY: -2.3%
• Rents YoY: -1.9%
• Active inventory: 121
• Price-to-rent: 77.0×

Monthly cashflow live

• Estimated rent: $43,195 high
• Mortgage (P&I): −$10,462
• Tax from tax record: −$1,630 /mo · $19,564/yr
• Insurance: −$831
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,071
• Net cashflow: $21,200

Break-even live

Break-even rent $16,359

Max offer price $1,995,000

Occupancy floor 46%

20-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 20× units	2	—	$43,200
Total (20 units)			$43,195

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $498,750
• Closing costs: $59,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
808 S Broadway Unit 7TH Los Angeles, CA	2.0	3.0	6000	$11,000	$1.83	24d	1	1.14mi

Listing history 27 events

1. 2026-06-18
   days on market $1,995,000 Active 44 DOM
2. 2026-06-17
   days on market $1,995,000 Active 43 DOM
3. 2026-06-16
   days on market $1,995,000 Active 42 DOM
4. 2026-06-15
   days on market $1,995,000 Active 41 DOM
5. 2026-06-13
   days on market $1,995,000 Active 39 DOM
6. 2026-06-09
   days on market $1,995,000 Active 35 DOM
7. 2026-06-08
   days on market $1,995,000 Active 34 DOM
8. 2026-06-07
   days on market $1,995,000 Active 33 DOM
9. 2026-06-04
   days on market $1,995,000 Active 30 DOM
10. 2026-06-03
    days on market $1,995,000 Active 29 DOM
11. 2026-06-02
    days on market $1,995,000 Active 28 DOM
12. 2026-06-01
    days on market $1,995,000 Active 27 DOM
13. 2026-05-31
    days on market $1,995,000 Active 26 DOM
14. 2026-05-05
    listed $1,995,000 Active 1980-char remark

    Show marketing remark (1980 chars)

    410 Witmer Street is a 20-unit, wood-frame building with a raised foundation and twelve (12) parking spots, located in a rapidly evolving submarket of Los Angeles, just west of Downtown Los Angeles. The offering represents a compelling value-add opportunity with strong in-place cash flow and significant rental upside, with a new roof and recently upgraded electrical that makes it ideally suited for investors seeking both yield and long-term appreciation. The property consists of a two-story, wood-frame building with a raised foundation, totaling 7,999 rentable square feet on a 9,072 square foot LACW-zoned mid-block lot. Originally constructed in 1928, the asset features a unit mix of twenty (20) studio units and benefits from twelve (12) uncovered on-site tandem parking spaces, an exceptional parking ratio for the area and a meaningful competitive advantage in this dense urban submarket. 410 Witmer Street is currently operating at a 7.64 GRM and a 6.55% cap rate on in-place rents, with a clear path to increased cash flow through a strategic value-add program. By implementing interior renovations, improving operational efficiencies, and capturing mark-to-market rent potential, a new owner can achieve a projected 6.39 GRM and 10.28% cap rate upon stabilization. Situated near the intersection of Witmer Street and W 3rd Street, the property offers excellent connectivity to the 101, 110, and 10 freeways, as well as multiple Metro transit lines. The location benefits from its proximity to high-demand rental neighborhoods including Echo Park, Silver Lake, Elysian Heights, and Koreatown, all of which continue to experience strong tenant demand driven by their access to employment centers, lifestyle amenities, and cultural hubs. 410 Witmer Street presents a rare opportunity to acquire a well-located, income-producing asset with a favorable parking ratio and a clear roadmap to unlocking additional value in one of Los Angeles' most dynamic rental corridors.

15. 2024-08-07
    historical $1,095
16. 2024-07-31
    listed $1,095
17. 2024-04-10
    historical $1,245
18. 2024-03-28
    price $1,245
19. 2024-03-13
    listed $1,295
20. 2024-02-08
    soldstatus $1,475,000 Closed Sale 668-char remark

    Show marketing remark (668 chars)

    Investment opportunity in the Westlake neighborhood of Los Angeles. The property features 20 units building with a gross 7,999 Sq. Ft. This is an opportunity for an investor to further increase cashflow and capture an additional rental income since rents are under market. Close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. 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 entertainment opportunities.

21. 2024-02-08
    soldstatus $1,475,000

    Show marketing remark (668 chars)

    Investment opportunity in the Westlake neighborhood of Los Angeles. The property features 20 units building with a gross 7,999 Sq. Ft. This is an opportunity for an investor to further increase cashflow and capture an additional rental income since rents are under market. Close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. 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 entertainment opportunities.

22. 2023-12-01
    status Pending Sale 668-char remark

    Show marketing remark (668 chars)

    Investment opportunity in the Westlake neighborhood of Los Angeles. The property features 20 units building with a gross 7,999 Sq. Ft. This is an opportunity for an investor to further increase cashflow and capture an additional rental income since rents are under market. Close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. 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 entertainment opportunities.

23. 2023-11-11
    status Active 668-char remark

    Show marketing remark (668 chars)

    Investment opportunity in the Westlake neighborhood of Los Angeles. The property features 20 units building with a gross 7,999 Sq. Ft. This is an opportunity for an investor to further increase cashflow and capture an additional rental income since rents are under market. Close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. 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 entertainment opportunities.

24. 2023-11-04
    historical Active Under Contract 668-char remark

    Show marketing remark (668 chars)

    Investment opportunity in the Westlake neighborhood of Los Angeles. The property features 20 units building with a gross 7,999 Sq. Ft. This is an opportunity for an investor to further increase cashflow and capture an additional rental income since rents are under market. Close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. 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 entertainment opportunities.

25. 2023-09-08
    price $2,500,000 668-char remark

    Show marketing remark (668 chars)

    Investment opportunity in the Westlake neighborhood of Los Angeles. The property features 20 units building with a gross 7,999 Sq. Ft. This is an opportunity for an investor to further increase cashflow and capture an additional rental income since rents are under market. Close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. 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 entertainment opportunities.

26. 2023-08-28
    price $2,900,000 668-char remark

    Show marketing remark (668 chars)

    Investment opportunity in the Westlake neighborhood of Los Angeles. The property features 20 units building with a gross 7,999 Sq. Ft. This is an opportunity for an investor to further increase cashflow and capture an additional rental income since rents are under market. Close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. 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 entertainment opportunities.

27. 2023-08-08
    listed $3,900,000 Active 668-char remark

    Show marketing remark (668 chars)

    Investment opportunity in the Westlake neighborhood of Los Angeles. The property features 20 units building with a gross 7,999 Sq. Ft. This is an opportunity for an investor to further increase cashflow and capture an additional rental income since rents are under market. Close proximity to schools, employment, and transit options, this location makes it convenient for residents to commute throughout the city even without a vehicle. 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 entertainment opportunities.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $19,564 · $1,630/mo
• Projected year-2 tax: $19,564 · $1,630/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥93°F today · 21 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $518,340
• − Mortgage interest: −$111,751
• − Property taxes: −$19,564
• − Insurance: −$9,975
• − Repairs & maintenance: −$41,467
• − Management: −$41,467
• − Depreciation: −$58,036
• Taxable income: $236,079
• Est. tax owed @ 24.0%: −$56,659
• After-tax cash flow: $197,747/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 30,172
• Household income: $52,717
• Rent vs Own: 94.3% rent · 5.7% own
• Severe rent burden: 4819.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Hispanic / Latino 56% Asian 18% Black 13% White 11% Two or more races 9% Native American 1%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 44% · Canada, South Korea, China
• Languages at home: 34% English-only · Spanish 48% Korean 9% Chinese 3%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.36%
• Current HPI: 308.6973
• Rent YoY: ▼ -1.91%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

-48.8% since first listed

14 events — show timeline

• 2026-05-05 Listed $1,995,000 TheMLS
• 2024-08-07 Rental Removed $1,095 RENT.
• 2024-07-31 Listed for Rent $1,095 RENT.
• 2024-04-10 Rental Removed $1,245 APPFOLIO
• 2024-03-28 Price Changed $1,245 APPFOLIO
• 2024-03-13 Listed for Rent $1,295 APPFOLIO
• 2024-02-08 Sold (Public Records) $1,475,000 Public Records
• 2024-02-08 Sold (MLS) $1,475,000 CRMLS
• 2023-12-01 Pending — CRMLS
• 2023-11-11 Relisted — CRMLS
• 2023-11-04 Contingent — CRMLS
• 2023-09-08 Price Changed $2,500,000 CRMLS
• 2023-08-28 Price Changed $2,900,000 CRMLS
• 2023-08-08 Listed $3,900,000 CRMLS

Property tax history

+10.0%/yr

Latest (2025): $19,564 · -36.9% YoY. Source: county tax records.