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311 Witmer St

Los Angeles CA 90017

8
20
10856 sq. ft.
6599 sq. ft.
Other
Currently for sale - view listing

Overview

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.

Features

8 bedrooms
20 bathrooms
10856 sq. ft. floor area
6599 sq. ft. lot size
Other

Property history for 311 Witmer St

2018
Sold
$2,325,000
01 May 2018 by Nicole Apostolos, of Keller Williams Studio City
2005
Sold
Undisclosed
15 Nov 2005

Happy sellers in Los Angeles

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We have insufficient information to provide an overview of customer satisfaction for Los Angeles. Viewing the agent profiles, reviews and sales for Los Angeles can provide insights for this location.

Local market activity for 8 bedroom other properties in Los Angeles

In the last 12 months, 2 eight-bedroom other properties similar to 311 Witmer St, have been sold.

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(619) 566-0008
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