324 Witmer St Los Angeles, CA 90017
- Added:
- Aug 5, 2024
- Days on Market:
- 634
- Last Refresh:
- Apr 30 at 2:06 pm
Property Features for 324 Witmer St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- LACW
- Bedrooms
- 4
- Bathrooms
- 20
- Rooms
- Bathroom 20, Bathroom 14, Bathroom 17, Bathroom 18, Bathroom 19, Bedroom 4, Bathroom 13, Bathroom 3, Bathroom 1, Bathroom 8, Bedroom 2, Bathroom 5, Bathroom 4, Bathroom 2, Bathroom 10, Bathroom 12, Bedroom 1, Bathroom 11, Bathroom 15, Bathroom 6, Bathroom 9, Bedroom 3, Bathroom 16, Bathroom 7
- Standard status
- Pending
- 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
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# 24-424005
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.
Overview
Value-Add Multifamily Investment Opportunity
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.263585
- Latitude
- 34.058193
Nearby Similar for Sale
FAQs
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: Significant value‑add opportunity with approximately 81% rental upside.; High potential stabilized CAP rate of 15.81% and GRM of 4.70 at projected market rents.; Offered at a 6.66% CAP and 8.50 GRM on current rents.
