324 S Witmer St - Apartments FOR SALE
Los Angeles, CA 90017 |
324 S Witmer St
Los Angeles, CA 90017
HIGHLIGHTS
- 20 unit value-add complex located 1.4 miles south of Echo Park Lake and the heart of Downtown LA.
- 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.
- Offered at 6.66% CAP and 8.50 GRM on current rents, $105,000 per unit, and $189 per foot.
- 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.
- 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.
FOR SALE DETAILS
PRICE
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# OF UNITS
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CAP RATE
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% LEASED
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BUILDING DETAILS
PROPERTY NAME
6.66% CAP & 8.50 GRM & 81% Rental Upside
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
11088
STORIES
2
YEAR BUILT
1923
PARKING SPACES
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LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
5153-025-009
