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311 S Witmer St
Los Angeles, CA 90017 Westlake North

$2,700,000 USD

Apartments For Sale  •  10,856 SF

Property Details

• Property Type Apartments
• Total Building Size 10,856 SF
• Lot Size 0.15 AC
• Building Class C
• Year Built 1923
• Zoning R3, Los Angeles

90 Transit Score

90 Walk Score

Highlights

311 Witmer is a 20 unit value-add complex located 1.4 miles south of Echo Park Lake and the heart of downtown Los Angeles.

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.

Significant value-add opportunity with 55% rental upside. At projected market rents, the property will stabilize at a 13.50% CAP and 5.49 GRM. GRM.

Tenants pay electrical utilities and the building is master metered for gas.

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 sold in conjunction with 1000 N. Serrano - 24-unit complex in East Hollywood offered at 6.75% CAP on real expenses.

Property Flyers

311 Witmer OM - 08.05.24

Amenities

• Laundry Facilities
• Microwave
• Heating
• Kitchen
• Refrigerator
• Oven
• Range

Public Transportation

Commuter Rail	Drive	Walk	Distance
Los Angeles (Coast Starlight - Amtrak, Pacific Surfliner - Amtrak, Southwest Chief - Amtrak, Texas Eagle - Amtrak)	5 min	-	2.3 mi
Union Station (91 Line - Southern California Regional Rail Authority (Metrolink), Antelope Valley Line - Southern California Regional Rail Authority (Metrolink), Orange County Line - Southern California Regional Rail Authority (Metrolink), Riverside Line - Southern California Regional Rail Authority (Metrolink), San Bernardino Line - Southern California Regional Rail Authority (Metrolink), Ventura County Line - Southern California Regional Rail Authority (Metrolink))	7 min	-	2.4 mi
Transit/Subway	Drive	Walk	Distance
Grand Ave Arts / Bunker Hill Station (Metro A-Line - Metro - Los Angeles, Metro E-Line - Metro - Los Angeles)	2 min	16 min	0.8 mi
7Th Street/Metro Center Station (Blue Line - Los Angeles County Metropolitan Transportation Authority (Metro), Expo Line - Los Angeles County Metropolitan Transportation Authority (Metro), Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro))	2 min	19 min	1.0 mi
Westlake/Macarthur Park Station (Purple Line - Los Angeles County Metropolitan Transportation Authority (Metro), Red Line - Los Angeles County Metropolitan Transportation Authority (Metro))	2 min	19 min	1.0 mi
Airport	Drive	Walk	Distance
Los Angeles International	25 min	-	14.9 mi
Bob Hope	23 min	-	15.6 mi
Long Beach (Daugherty Field)	31 min	-	23.2 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Type:	Surface
Included in Rent:	Yes