311 Witmer Street Los Angeles, CA ^$ 2,700,000

311 Witmer Street

^$ 2,700,000

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311 Witmer Street

Los Angeles, CA, 90017

^$ 2,700,000

Studio Baths0.0 Sq 10,856

Monthly Estimate*

^$ 16,624

311 Witmer Street, Los Angeles, CA 90017 - Image 1

311 Witmer Street, Los Angeles, CA 90017 - Image 2

311 Witmer Street, Los Angeles, CA 90017 - Image 3

311 Witmer Street, Los Angeles, CA 90017 - Image 4

311 Witmer Street, Los Angeles, CA 90017 - Image 5

Studio

Multi-Family Home for sale in Los Angeles, CA

for $2,700,000. This 10,856 square foot home was built in 1923 on a lot size of 0.15.

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.

Multi-Family Pending

Price

^$ 2,700,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 0

Style

Lot Size

0.15

Year Built

1923

Town/City

Los Angeles

County/Region

Los Angeles

MLS | Web ID

0024423967

Features

General

Sewer None

Heating Wall Furnace

Zoning LAR3

Security Features Gated Community

Year Built 1923

Levels Two

County Los Angeles

Net Operating Income 196766.0

New Construction No

Property Type C

HOA / Comm Assn No

Facing Direction East

Status Pending

City Los Angeles

View Y/N No

Senior Community Y/N No

MLS Area C42 - Downtown L.A.

Lot Size Units Square Feet

Lot Size Square Feet 6599.0

Additional Parcels Y/N No

Standard Status Pending

Exterior

Water Source None

Lot Size Area 6599.0

Building Area Total 10856.0

Lot Size Acres 0.15

Land Lease Type Fee

Interior

Total Stories 2

Heating Y/N Yes

Laundry Features Community

Total Baths 0

* Excluded Features

List By

Max Berger

Listing Agent

Compass

Broker

Affordability Calculator

$16,624

Per Month

Monthly Principal & Interest: $16,624
Monthly Property Taxes: --
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Los Angeles, CA

Average List Price ^$1,841,294

Percent of Sale Price 32%

About Los Angeles, CA

3,920,026 Population

6% Since 2002

^$55,057 Median Income

36.82 Median Age

27% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

793437 Elementary School

793428 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
8/6/2024	$2,700,000		Listed Price

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311 Witmer Street, Los Angeles, CA, 90017 is a Multi-Family Home for sale at $2,700,000 with 10,856 sqft and a lot size of 0.15. 311 Witmer Street is a studio with 0.0 baths and was built in 1923. The property's zip code is 90017 which is in Los Angeles, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Desert Association of Realtors.

Based on information from the California Desert Association of REALTORS® as of 8/9/2024. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the California Desert Association of Realtors. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors include the name of the listing brokers.

The information being provided is for consumers' personal, non-commercial use and may not be reproduced or redistributed. Its sole purpose is to be used to identify prospective properties consumers may be interested in purchasing.

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311 Witmer Street

Multi-Family Home for sale in Los Angeles, CA

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