$2,700,000
PENDING

311 Witmer St Los Angeles, CA 90017

Westlake Neighborhood

Estimated payment $16,804/month

Total Views 323
8 Beds
20 Baths
10,856 Sq Ft
$249 Price per Sq Ft

Highlights

  • Laundry Facilities
  • Gated Home
  • East Facing Home

About This Home

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.

Listing Agent

Max Berger

Compass License #02054048 Listed on: 08/05/2024

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1923

Lot Details

  • 6,599 Sq Ft Lot
  • East Facing Home
  • Gated Home

Interior Spaces

  • 10,856 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 20 Bathrooms

Utilities

  • Heating System Mounted To A Wall or Window

Community Details

  • 20 Units
  • Laundry Facilities
  • Rent Control

Listing and Financial Details

  • Assessor Parcel Number 5153-026-007

Property Details

Home Type

Multi-Family

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Additional Assessor Parcel Numbers: No
  • Living Area: 10856
  • Price Per Unit: 135000.00
  • Stories: 2
  • Year Built: 1923
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 8
  • Common Walls: Attached
  • Laundry: Community
  • Total Bathrooms: 20.00
  • Price Per S Q F T: 248.71

Exterior Features

  • Direction Faces: East
  • Other Structures: None
  • View: No

Utilities

  • Heating: Wall
  • Security: Gated

Lot Info

  • Assessor Parcel Number: 5153-026-007
  • Lot Size Area: 6599

Rental Info

  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 8.50
  • Number Of Units: 20
  • Rent Control: 100
  • Type Of Units: Apartments

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/09/2024 08/09/24 Pending -- -- --
08/05/2024 08/05/24 For Sale $2,700,000 +16.1% $249 / Sq Ft
05/01/2018 05/01/18 Sold $2,325,000 +3.3% $214 / Sq Ft View Prior Sale
11/30/2017 11/30/17 For Sale $2,250,000 -- $207 / Sq Ft
Source: The MLS

Source: The MLS

MLS Number: 24-423967

The MLS
California Los Angeles County Los Angeles 90017 Westlake

311 Witmer St, Los Angeles, CA

Pending

MultiFamily

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.

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Max Berger
Listing Agent
Max Berger
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Compass
(310) 953-4562