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324 Witmer St
Los Angeles CA 90017 US

$2,100,000

Pending Listing ID 24-424005
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4 bed
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$2,100,000

Pending Listing ID 24-424005
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324 Witmer St 324 Witmer is a 20 unit value-add complex located 1.4 miles south of Echo Park Lake and the heart of Downtown LA. Located just south of W. 3rd St, the property is in close proximity to Echo Park, Silver Lake, Koreatown, the 101 Fwy, and the 110 Fwy. The property is offered at 6.66% CAP and 8.50 GRM on current rents, $105, 000 per unit, and $189 per foot. 324 Witmer is a significant value-add opportunity with approx. 81% rental upside. At projected market rents, the property will stabilize at a 15.81% CAP and 4.70 GRM. Built in 1923, the 11, 088 SF two-story complex consists of (4) 1-bdrm. units and (16) studio units. Tenants pay their own electrical utilities and the building is master metered for gas. Property amenities include community laundry. 324 Witmer, which can be purchased individually, is part of the Witmer 4 - 84 units across 4 buildings within 1 block of Witmer St. The Witmer 4 is being sold in conjunction with 1000 N. Serrano, a 24-unit complex in East Hollywood offered at a 6.75% CAP on real expenses. Please contact LA1 for more information.

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Property Features

  • Facts
  • Property Type: Residential Multi Family
  • Property Sub-type: Other

Property

  • propertytype: Residential Multi Family
  • propertysubtype: Other
  • listprice: 2100000
  • unparsedaddress: 324 Witmer St
  • postalcity: Los Angeles
  • stateorprovince: CA
  • country: US
  • postalcode: 90017
  • bathroomsfull: 0
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeunits: Acres
  • livingarea: 11088
  • livingareaunits: Square Feet
  • listagentfullname: Max Berger
  • listagentemail: max@kennystevensteam.com
  • listagentkey: 3yd-CLAWCA-C135509
  • listagentmlsid: C135509
  • listagentpreferredphone: 3102305478
  • listagentofficephone: 3102305478
  • listofficekey: 3yd-CLAWCA-X81461
  • listofficemlsid: X81461
  • disclaimer: 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.
  • sourcesystemid: CLAWCA
  • yearbuilt: 1923
  • listingcontractdate: 2024-08-05
  • listagenturl: https://www.compass.com/
  • countyorparish: Los Angeles
  • parcelnumber: 5153-025-009
  • numberofunitstotal: 20
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 2
  • parkingtotal: 0
  • waterfrontyn: False
  • architecturalstyle: Other
  • rooms: Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
  • dock: False
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: True
  • internetconsumercommentyn: True
  • customfields: {"AdditionalInformation":{}, "AlternatePrices":[], "BrokerName":"Compass", "BuilderEmail":null, "BuilderFax":null, "BuilderPhone":null, "City":null, "Country":null, "Expenses":[], "GeocodeOptions":null, "LeadRoutingEmail":"max@kennystevensteam.com", "ListBrokerageCity":"Los Angeles", "ListBrokerageCountry":"US", "ListBrokerageEmail":null, "ListBrokerageLogoUrl":null, "ListBrokerageName":"Compass", "ListBrokeragePhone":null, "ListBrokeragePostalCode":"90212", "ListBrokerageStateOrProvince":"CA", "ListBrokerageUnitNumber":null, "ListBrokerageUnparsedAddress":"9454 Wilshire Blvd. #400", "ListBrokerageWebsiteUrl":"https://www.compass.com/", "ListOfficeAddress1":"9454 Wilshire Blvd.", "ListOfficeAddress2":"Suite 400", "ListOfficeBrokerMlsId":"X71023", "ListOfficeCity":"Beverly Hills", "ListOfficeCountry":"US", "ListOfficeEmail":null, "ListOfficePostalCode":"90212", "ListOfficeStateOrProvince":"CA", "ListPriceCurrencyType":"USD", "ListingTitle":"Residential Income - Los Angeles, CA", "ListingURL":"https://www.realtor.com/realestateandhomes-detail/324-Witmer-St_Los-Angeles_CA_90017_M28739-42014?f=listhub&s=CLAWCA-24&m=424005&c=rexren", "MLSModificationTimestamp":"2024-08-09T14:08:13Z", "Neighborhoods":[], "PostalCode":null, "RawPropertySubType":null, "RawPropertyType":"Residential Income", "RoomCount":null, "StateOrProvince":null, "Taxes":[], "UnitNumber":null, "UnparsedAddress":null}
Listing Changed: 1/15/2025 12:50:28 AM GMT
Source Updated Date: 2/21/2025 6:51:39 AM GMT

Courtesy of: Max Berger, Compass, max@kennystevensteam.com

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.