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324 S Witmer St
Los Angeles, CA 90017

$2,100,000 USD

Apartments For Sale  •  11,088 SF

Property Details

  • Property Type Apartments
  • Total Building Size 11,088 SF
  • Lot Size 0.17 AC
  • Building Class C
  • Year Built 1923
  • Zoning LACW
95 Transit Score
91 Walk Score

Highlights

20 unit value-add complex located 1.4 miles south of Echo Park Lake and the heart of Downtown LA.
ocated 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.
Offered at 6.66% CAP and 8.50 GRM on current rents, $105,000 per unit, and $189 per foot.
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.
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.

Property Flyers

Amenities

  • Laundry Facilities
  • Heating
  • Ceiling Fans
  • Kitchen
  • Refrigerator
  • Oven
  • Range

Public Transportation

Commuter RailDriveWalkDistance
Los Angeles (Coast Starlight - Amtrak, Pacific Surfliner - Amtrak, Southwest Chief - Amtrak, Texas Eagle - Amtrak) 6 min - 2.4 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 - 2.5 mi
Transit/SubwayDriveWalkDistance
Grand Ave Arts / Bunker Hill Station (Metro A-Line - Metro - Los Angeles, Metro E-Line - Metro - Los Angeles) 2 min 17 min 0.9 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
AirportDriveWalkDistance
Los Angeles International 25 min - 14.9 mi
Bob Hope 24 min - 15.7 mi
Long Beach (Daugherty Field) 31 min - 23.1 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Kenny Stevens 310-940-8749 Compass
Kenny Stevens 310-940-8749 Compass