20-Unit Apartment
311 Witmer St, Los Angeles, CA 90017
For Sale
$2,700,000
Pending
Residential Income, Los Angeles, CA
Property Size10,856 SF
Lot Size0.15 Acres
Days on Market833
Property Features for 311 Witmer St
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Directions
Subdivision
Standard status
APN
Size
Lot size
Amenities
community laundry
gated entry
Building Details
Year built
Floors in Building
Number of units
Buildings
Listing Agency:
Compass
(310) 230-5478
Listed By:
Max Berger · License CA #02054048
(818) 321-4972
Added: Aug 5, 2024
Changed: Oct 26
Last Checked: Nov 15 at 6:06AM
MLS# 24-423967
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.
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Investment Insights
Based on property information with market context.
Located at 311 Witmer St in Los Angeles, this 20-unit apartment property contains 10,856 square feet across two stories. The unit mix includes 12 studio residences and 8 one-bedroom residences. Built in 1923, the complex includes community laundry and controlled gated access, with LAR3 zoning.
The property is positioned 1.4 miles south of Echo Park Lake and near Echo Park, Silver Lake, Koreatown, the 101 Freeway, and the 110 Freeway. Its location just south of W. 3rd St places the building within reach of several established Los Angeles neighborhoods and regional transportation routes.
The property is positioned 1.4 miles south of Echo Park Lake and near Echo Park, Silver Lake, Koreatown, the 101 Freeway, and the 110 Freeway. Its location just south of W. 3rd St places the building within reach of several established Los Angeles neighborhoods and regional transportation routes.
Key Highlights
- 20‑unit apartment property with 12 studio units and 8 one‑bedroom units
- 10,856 SF two‑story complex built in 1923
- LAR3 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$174,682
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,493,640
$3.5M
Cap Rate 7%
$2,495,457
$2.5M
Cap Rate 9%
$1,940,911
$1.9M
Market Conditions
NOI Build-Up for 10,856 SF
Gross rent
$345.2K $31.80/SF
− Vacancy
−$27.6K −$2.54/SF
EGI
$317.6K $29.26/SF
− OpEx
−$142.9K −$13.17/SF
NOI
$174.7K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,493,640
Cap Rate 7%
$2,495,457
Cap Rate 9%
$1,940,911
Alternative Uses
Best Use
Apartment 5plus
$2.50M
$2.18M – $2.91M
NOI $174,682 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.53M
$3.97M – $5.29M
NOI $317,276 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
20
Residential units
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
$675,500
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Los Angeles, CA
Properties on Market for Apartment buildings in Los Angeles
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story complex with studio and one-bedroom residences, 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 property with 12 studio units and 8 one‑bedroom units; 10,856 SF two‑story complex built in 1923; LAR3 zoning
