Value-Add Multifamily Investment
For Sale
$2,100,000
Pending
324 Witmer St, Los Angeles, CA 90017
MULTI_FAMILY - Los Angeles, CA
Property Size11,088 SF
Lot Size0.17 Acres
Days on Market725
Property Features for 324 Witmer St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
LACW
Bedrooms
4
Bathrooms
20
Full bathrooms
2
Rooms
Bathroom 19, Bedroom 1, Bedroom 2, Bathroom 13, Bathroom 14, Bathroom 11, Bathroom 16, Bedroom 3, Bathroom 10, Bathroom 12, Bedroom 4, Bathroom 4, Bathroom 7, Bathroom 3, Bathroom 6, Bathroom 20, Bathroom 5, Bathroom 1, Bathroom 2, Bathroom 15, Bathroom 18, Bathroom 8, Bathroom 17, Bathroom 9
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.
Subdivision
Downtown L.A.
Standard status
Pending
APN
5153-025-009
Size
11,088 SF
Lot size
0.17 Acres
Amenities
community laundry
Building Details
Year built
1923
Floors in Building
2
Number of units
20
Listing Agency:
Compass
(310) 230-5478
Listed By:
Max Berger · License #02054048
(818) 321-4972
Added: Aug 5, 2024
Changed: Jul 29
Last Checked: Jul 30 at 10:06PM
MLS# 24-424005
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.
Investment Insights
Based on property information with market context.
The property at 324 Witmer St, Los Angeles, CA 90017 is a 20-unit complex located 1.4 miles south of Echo Park Lake and the heart of Downtown LA. Situated just south of W. 3rd St, the property is near Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy. Constructed in 1923, the two-story complex spans 11,088 square feet and features four 1-bedroom units and sixteen studio units. The lot size is 0.1743 acres. Tenants are responsible for their own electrical utilities, and the building is master metered for gas. A community laundry facility is available. This property presents a value-add opportunity with approximately 81% rental upside. The property is part of the Witmer 4, which includes 84 units across 4 buildings within one block of Witmer St. The intended use of the property is multifamily residential. The Witmer 4 is being sold in conjunction with another 24-unit complex in East Hollywood.
Key Highlights
- 20‑unit value‑add apartment complex built in 1923, 11,088 SF across two stories
- Unit mix: (4) 1‑bedroom units and (16) studio units
- Offered on current rents at 6.66% CAP and 8.50 GRM (buyer to verify per offering terms)
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
11,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 90017, CA
27,295
Population
15,953
Households
1.7
Avg Household Size
33
Median Age
36%
College-Educated
72%
High-School Grad
0.7 sq mi
ZIP Area
38,993
Density / Sq Mi
$51,317
Median Household Income
$35,076
Median Earnings
$1,669
Median Rent
$675,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 20-unit complex near Downtown LA with significant rental upside.
Where is this apartment building located?
The property is located at 324 Witmer St Los Angeles, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 20‑unit value‑add apartment complex built in 1923, 11,088 SF across two stories; Unit mix: (4) 1‑bedroom units and (16) studio units; Offered on current rents at 6.66% CAP and 8.50 GRM (buyer to verify per offering terms)
