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324 Witmer Street, Los Angeles, CA 90017

$2,100,000 Approx. USD 4 beds, 20 baths
11,088 sqft

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Berkshire Hathaway HomeServices California Properties 11828 Rancho Bernardo Rd, Ste 210
San Diego, CA 92128 888-995-7575

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Listing Agent

Max Berger | max@kennystevensteam.com
Lic#: 02054048
Broker: Courtesy of Compass
Phone: 818-321-4972

Agent Remarks

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.

Listing Details

Property type: (Multi-Family)

Status: Pending

MLS# 24424005

Price: $2,100,000

Beds: 4

Baths: 20

Built in 1923

11,088 sqft

2 stories

0.17 acres

Lot size: 0.1743

County: Los Angeles

Zoning: LACW

Parking description: None

Heating description: Wall Furnace

MLS area: C42 - Downtown L.A.

Last Updated: 6/12/2026

Days On Market (DOM): 4

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This listing belongs to the C42 - Downtown L.A. MLS area

Lat/Long: 34.058193, -118.263585.
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