324 S Witmer St | Los Angeles, CA 90017
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
324 S Witmer St
Los Angeles, CA 90017
6.66% CAP & 8.50 GRM & 81% Rental Upside · Multifamily Property For Sale
·
20 Units
INVESTMENT HIGHLIGHTS
- 20 unit value-add complex located 1.4 miles south of Echo Park Lake and the heart of Downtown LA.
- Offered at 6.66% CAP and 8.50 GRM on current rents, $105,000 per unit, and $189 per foot.
- Tenants pay their own electrical utilities and the building is master metered for gas. Property amenities include community laundry.
- 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.
- 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.
- 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 FACTS
| No. Units | 20 | Lot Size | 0.17 AC |
| Property Type | Multifamily | Building Size | 11,088 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1923 |
| Zoning | LACW - Commercial | ||
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 11,088 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1923 |
| Zoning | LACW - Commercial |
AMENITIES
UNIT AMENITIES
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,373 | - |
| Studios | 16 | $755.00 | - |
PROPERTY TAXES
| Parcel Number | 5153-025-009 | Improvements Assessment | $625,804 |
| Land Assessment | $2,025,333 | Total Assessment | $2,651,137 |
PROPERTY TAXES
Parcel Number
5153-025-009
Land Assessment
$2,025,333
Improvements Assessment
$625,804
Total Assessment
$2,651,137
1 of 1
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
