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    324 Witmer St Los Angeles, CA 90017

    Sponsored
    For Sale
    Pending
    $2,100,000

    MULTI_FAMILY - Los Angeles, CA

    Property size:
    11,088 SF
    Lot size:
    0.17 Acres
    Days on Market:
    515
    Last Refresh:
    Jan 5 at 3:06 pm

    Property Features for 324 Witmer St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Pending
    Zoning
    LACW
    Rooms
    Bathroom 8, Bathroom 4, Bathroom 17, Bathroom 18, Bathroom 10, Bathroom 12, Bedroom 4, Bathroom 9, Bathroom 5, Bathroom 15, Bathroom 16, Bathroom 1, Bathroom 3, Bedroom 1, Bathroom 20, Bathroom 19, Bedroom 3, Bathroom 7, Bathroom 13, Bathroom 11, Bathroom 6, Bathroom 2, Bedroom 2, Bathroom 14
    Bedrooms
    4
    Bathrooms
    20
    APN
    5153-025-009
    Size
    11,088 SF
    Lot size
    0.17 Acres

    Building Details

    Year built
    1923
    Floors in Building
    2
    Number of units
    20

    Compass

    Listing agent Max Berger (310) 230-5478 License #02054048

    Listing date Aug 9, 2024

    Copyright © 2025 TheMLSCLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Value-Add Multifamily Complex Near Downtown

    This 20-unit complex presents a value-add opportunity, situated 1.4 miles south of Echo Park Lake and the heart of Downtown Los Angeles. Located just south of W. 3rd St, the property benefits from its proximity to Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy. Constructed in 1923, the two-story building spans 11,088 square feet and features a unit mix of 4 one-bedroom units and 16 studio units. The property is situated on a lot of 0.17 acres. Tenants are responsible for their individual electrical utilities, while the building is master metered for gas. A community laundry facility is available for residents. The property is part of a larger portfolio, the Witmer 4, which comprises 84 units across 4 buildings within one block of Witmer St. This complex can be purchased individually or as part of the Witmer 4 portfolio. 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

    Apartment buildings

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Law Firm Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.263585
    Latitude
    34.058193

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    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 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: - Significant value-add opportunity with approximately 81% rental upside.; - Offered at a 6.66% CAP and 8.50 GRM on current rents, with potential to stabilize at a 15.81% CAP and 4.70 GRM at projected market rents.; - Located in close proximity to Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy.
    (310) 230-5478
    Request Owner's contact information
    324 Witmer St Los Angeles, CA 90017
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    Los Angeles, CA 90017
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    324 Witmer St Los Angeles, CA 90017
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