Value-Add Multifamily Near Downtown
311 Witmer St, Los Angeles, CA 90017
- Added:
- Aug 5, 2024
- Days on Market:
- 648
- Last Refresh:
- May 14 at 4:06 pm
Property Features for 311 Witmer St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- LAR3
- Bedrooms
- 8
- Bathrooms
- 20
- Rooms
- Bathroom 17, Bathroom 13, Bedroom 3, Bathroom 6, Bathroom 20, Bathroom 11, Bathroom 3, Bedroom 8, Bathroom 19, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 2, Bathroom 10, Bedroom 4, Bathroom 15, Bedroom 7, Bathroom 8, Bathroom 12, Bathroom 5, Bathroom 14, Bathroom 16, Bathroom 4, Bedroom 1, Bathroom 9, Bathroom 18, Bedroom 5, Bathroom 7
- Standard status
- Pending
- APN
- 5153-026-007
- Size
- 10,856 SF
- Lot size
- 0.15 Acres
Building Details
- Year built
- 1923
- Floors in Building
- 2
- Number of units
- 20
Listing agent Max Berger License #02054048 (818) 321-4972
Listing office Compass 9454 Wilshire Blvd. Suite 400, Los Angeles, CA (310) 230-5478
Listing date Aug 5, 2024
MLS# 24-423967
Listing URL
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Significant value‑add opportunity with approximately 55% rental upside.
- High potential CAP rate of 13.50% and GRM of 5.49 at projected market rents.
- Offered at a 7.29% CAP and 8.50 GRM.
- Located in close proximity to Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy.
- Part of a larger portfolio (Witmer 4) of 84 units across 4 buildings, offering potential for expanded investment.
- 20‑unit complex consisting of (8) 1‑bedroom units and (12) studio units with community laundry and gated entry.
Overview
The property at 311 Witmer Street is a 20-unit complex located 1.4 miles south of Echo Park Lake and the heart of Downtown Los Angeles. Situated just south of West 3rd Street, the property is near Echo Park, Silver Lake, Koreatown, the 101 Freeway, and the 110 Freeway. Constructed in 1923, this two-story complex has 10,856 square feet and consists of eight one-bedroom units and twelve studio units. Property amenities include community laundry and gated entry. This complex presents a value-add opportunity with approximately 55% rental upside. The property is part of the Witmer 4, which includes 84 units across four buildings within one block of Witmer Street. The Witmer 4 is being sold in conjunction with a 24-unit complex in East Hollywood.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
KamilliLiquidhight
Big Box & Wholesale Store
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.263998
- Latitude
- 34.058723
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 20-unit complex with significant rental upside near Echo Park.
Where is this apartment building located?
The property is located at 311 Witmer St Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Significant value‑add opportunity with approximately 55% rental upside.; High potential CAP rate of 13.50% and GRM of 5.49 at projected market rents.; Offered at a 7.29% CAP and 8.50 GRM.
