Two-Story Multifamily
For Sale
$2,700,000
Pending
311 Witmer St, Los Angeles, CA 90017
Built in 1923, this 20-unit complex offers a studio and one-bedroom mix, with gated entry and community laundry.
Property Size10,856 SF
Days on Market54
Property Features for 311 Witmer St
General Information
Standard status
Pending
Size
10,856 SF
Property subtype
Investment
Additional Details
Cap Rate
7.29%
Highway Access
Yes
Multifamily Units
20
Amenities
community laundry
gated entry
Building Details
Building Size
10,856 SF
Year Built
1923
Stories
2
Units
20
Tenancy
Multi
Listed By:
Max Berger
(818) 321-4972
Source:
Elliman
Added: Jul 16
Changed: Sep 2
Last Checked: Sep 7 at 9:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Max Berger
Investment Insights
Based on property information with market context.
Built in 1923, this two-story, 20-unit multifamily complex totals 10,856 SF and features a unit mix of eight 1-bedroom units and twelve studio units. Amenities include community laundry and gated entry.
The property is located just south of W. 3rd St, approximately 1.4 miles south of Echo Park Lake. It is positioned near Echo Park and Silver Lake, with Koreatown and the 101 and 110 freeways also in close proximity.
The offering is presented as a value-add opportunity, with underwriting cited at an initial 7.29% CAP and 8.50 GRM, and projected stabilization at a 13.50% CAP and 5.49 GRM. The seller notes this complex can be purchased individually, and it is part of the Witmer 4 portfolio consisting of 84 units across four buildings within one block of Witmer St.
The property is located just south of W. 3rd St, approximately 1.4 miles south of Echo Park Lake. It is positioned near Echo Park and Silver Lake, with Koreatown and the 101 and 110 freeways also in close proximity.
The offering is presented as a value-add opportunity, with underwriting cited at an initial 7.29% CAP and 8.50 GRM, and projected stabilization at a 13.50% CAP and 5.49 GRM. The seller notes this complex can be purchased individually, and it is part of the Witmer 4 portfolio consisting of 84 units across four buildings within one block of Witmer St.
Key Highlights
- 20‑unit apartment complex built in 1923 with 10,856 SF across a two‑story layout
- Unit mix includes 8 one‑bedroom units and 12 studio units
- Value‑add highlights include a 7.29% CAP and 8.50 GRM with approx. 55% rental upside to a projected 13.50% CAP and 5.49 GRM
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
9,610
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1923, this 20-unit complex offers a studio and one-bedroom mix, with gated entry and community laundry.
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: 20‑unit apartment complex built in 1923 with 10,856 SF across a two‑story layout; Unit mix includes 8 one‑bedroom units and 12 studio units; Value‑add highlights include a 7.29% CAP and 8.50 GRM with approx. 55% rental upside to a projected 13.50% CAP and 5.49 GRM
