$2,700,000

311 Witmer Street, Los Angeles, CA 90017

  • 8 beds |
  • 20 baths |
  • 10,856 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1923
  • Property Lot Size Icon6,599sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $249/sqft
  • Property List Date Icon Listed 1 year ago

Property Description

311 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 7.29% CAP, 8.50 GRM, $135,000 per unit, and $249 per foot. 311 Witmer presents a significant value-add opportunity with approx. 55% rental upside. At projected market rents, the property will stabilize at a 13.50% CAP and 5.49 GRM. Built in 1923, the 10,856 SF two-story complex consists of (8) 1-bdrm. units and (12) studio units. Property amenities include community laundry and gated entry. 311 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 in 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 LA 1 for more information.

Listing Status:
Pending
Date Added:
August 5, 2024
Data Last Updated:
April 17, 2026 at 12:16PM
Listing Office:
Compass : 310-230-5478
Listing Agent:
Max Berger : 818-321-4972
MLS ID:
24423967
  • Laundry: Common Area
  • Heating: Wall Furnace
  • Parking: Parking spaces: 0
  • General: 2
  • Originating MLS: CRMLS
  • County: Los Angeles
  • Zoning: LAR35153026007
  • View: None
  • Source: CRMLS

This listing courtesy of Max Berger , Compass

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

G

Gratts Learning Academy for Young Scholars (GLAYS)

309 Lucas Ave, Los Angeles, CA, 90017

Grades 2-6

0.11 miles away

S

Sal Castro Middle School

1575 W 2nd St, Los Angeles, CA, 90026

Grades 6-8

0.20 miles away

M

Miguel Contreras Learning Complex - Academic Leadership Community

322 Lucas Ave, Los Angeles, CA, 90017

Grades 9-12

0.17 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.