324 Witmer Street, Los Angeles, CA 90017

Local realty services provided by:Better Homes and Gardens Real Estate Property Shoppe
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324 Witmer Street,Los Angeles, CA 90017
$2,100,000
  • 4 Beds
  • 20 Baths
  • 11,088 sq. ft.
  • Multi-family
  • Pending
Listed by:max berger
Office:compass
MLS#:24424005
Source:CRMLS

Price summary

  • Price:$2,100,000
  • Price per sq. ft.:$189.39

About this home

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

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Home facts

  • Year built:1923
  • Listing Id #:24424005
  • Added:375 day(s) ago
  • Updated:August 13, 2025 at 07:30 AM

Rooms and interior

  • Bedrooms:4
  • Total bathrooms:20
  • Living area:11,088 sq. ft.

Heating and cooling

  • Heating:Wall Furnance

Structure and exterior

  • Year built:1923
  • Building area:11,088 sq. ft.
  • Lot area:0.17 Acres

Finances and disclosures

  • Price:$2,100,000
  • Price per sq. ft.:$189.39
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