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324 Witmer Street

Los Angeles, CA 90017

– beds
– baths
– sqft
7,594 sqft lot
1923 build
– on site

324 Witmer is a 20 unit value-add complex located 1.4 miles south of Echo Park Lake and the heart of Downtown LA. Located just south of W. 3rd St, the property is in close proximity to Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy. The property is offered at 6.66% CAP and 8.50 GRM on current rents, $105,000 per unit, and $189 per foot. 324 Witmer is a significant value-add opportunity with approx. 81% rental upside. At projected market rents, the property will stabilize at a 15.81% CAP and 4.70 GRM. Built in 1923, the 11,088 SF two-story complex consists of (4) 1-bdrm. units and (16) studio units. Tenants pay their own electrical utilities and the building is master metered for gas. Property amenities include community laundry. 324 Witmer, which can be purchased individually, is part of the Witmer 4 - 84 units across 4 buildings within 1 block of Witmer St. The Witmer 4 is being sold in conjunction with 1000 N. Serrano, a 24-unit complex in East Hollywood offered at a 6.75% CAP on real expenses. Please contact LA1 for more information.

Listed By CRMLS_CA / Max Berger / Compass

Last checked: Checking… • Last updated Jan 17, 2025 •

MLS# 24424005 —

The Building

Year Built:

1923
New Construction:

No
Building Area Total:

11088.00
Total Number Of Units:

20
# of Buildings:

1
Stories Total:

2
Faces:

West

Interior

Levels:

Two
Laundry:

Community
Laundry:

1

Location

Directions:

311 Witmer is 1.5 miles from Echo Park Lake and the heart of Downtown LA. Located just south of West 3rd St, the property is in close proximity to Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy.
Latitude:

34.05819300
Longitude:

-118.26358500

The Property

Property Type:

Residential Income
Zoning:

LACW
Lot Size Area:

7594.0000
Lot Size Acres:

0.1743
Lot Size SqFt:

7594.00
Lot Size Source:

Other
View:

None
Additional Parcels:

No

Listing Agent

Contact info:

The Listing

Special Listing Conditions:

Standard
Parcel Number:

5153025009

Heating & Cooling

Heating:

1
Heating:

Wall Furnace

Appliances

Included:

Yes

The Community

Association:

No
Senior Community:

No
Assessments:

No

Parking

Parking:

No
Parking:

None

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
8/9/24 Aug 9, 2024	Pending	CRMLS_CA	$2,100,000
8/5/24 Aug 5, 2024	Listed / Active	CRMLS_CA	$2,100,000

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This multifamily located in Central LA, Los Angeles, CA 90017 is currently pending sale for $2,100,000. 324 Witmer Street is a – square foot multifamily with – beds and – baths that has been on Estately for 254 days. 324 Witmer Street is in the Central LA neighborhood of Los Angeles and has a WalkScore® of 91, making it a walker’s paradise. This multifamily is in the attendance area of Belmont Senior High School, Edward R. Roybal Learning Center, Miguel Contreras Learning Complex - Los Angeles School Of Global Studies, Miguel Contreras Learning Complex - School Of Social Justice, Gratts Learning Academy For Young Scholars, Miguel Contreras Learning Complex - Business And Tourism, Miguel Contreras Learning Complex - Acdemic Ldrshp Community, Ramon C Cortines School Of Visual And Performing Arts, and John H Liechty Middle School.

Listing Courtesy of: CRMLS_CA and Compass. Based on information from California Regional Multiple Listing Service, Inc. as of 09:54 on Apr 16.

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.