324 Witmer Street, Los Angeles, CA 90017
324 Witmer Street, Los Angeles, CA 90017
324 Witmer Street, Los Angeles, CA 90017
7
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$2,100,000
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11,088 SqFt
Pending

324 Witmer Street Los Angeles, CA 90017

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Grant Inaba

Grant Inaba

+1(415) 992-2330

UPDATED:

Key Details

Property Type COMM RI MULTI-UNITS 5

Sub Type Other

Listing Status Pending

Purchase Type For Sale

Square Footage 11,088 sqft

Price per Sqft $189

MLS Listing ID CL24424005

HOA Y/N No

Year Built 1923

Lot Size 7,594 Sqft

Acres 0.17

Property Sub-Type Other

Property Description

324 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 6.66% CAP and 8.50 GRM on current rents, $105,000 per unit, and $189 per foot. 324 Witmer is a 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. Built in 1923, the 11,088 SF two-story complex consists of (4) 1-bdrm. units and (16) studio units. 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. The Witmer 4 is being 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 LA1 for more information.

Location

State CA

County Los Angeles

Area Listing

Zoning LACW

Interior

Heating Wall Furnace

Fireplace No

Laundry Community Facility

Exterior

View Y/N false

View None

Building

New Construction No

Others

Tax ID 5153025009

Bridge MLS
© 2026 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Max Berger • Compass

NEARBY SCHOOL & BUSINESS

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Grant Inaba

Grant Inaba

Agent License ID: 01905199

+1(415) 992-2330

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324 Witmer Street

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