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311 Witmer St, Los Angeles, CA 90017

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For Sale
Sale Pending

$2,700,000

8 beds • 10,856 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $248.71
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

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.
MLS# 24-423967

Courtesy Of Compass

(310) 230-5478

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other

Map and Directions

Directions to 311 Witmer St, Los Angeles, CA 90017

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CENTURY 21 King

(909) 980-8000
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Monthly Payment Breakdown

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% 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. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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