Los Angeles, CA 90017,334 Witmer ST
Los Angeles, CA 90017,334 Witmer ST
Los Angeles, CA 90017,334 Witmer ST
Los Angeles, CA 90017,334 Witmer ST
Los Angeles, CA 90017,334 Witmer ST
Los Angeles, CA 90017,334 Witmer ST
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Carlos Elizalde

Carlos Elizalde

+1(714) 389-8310
$ 1,645,000
Est. payment | /mo

10 Beds

9 Baths

5,135 SqFt

Save
$ 1,645,000
Est. payment | /mo
Save

10 Beds

9 Baths

5,135 SqFt

Key Details

Property Type Single Family Home

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 5,135 sqft

Price per Sqft $320

MLS Listing ID 25616201

Bedrooms 10

Construction Status Additions/Alterations,Updated/Remodeled

HOA Y/N No

Year Built 1949

Lot Size 6,507 Sqft

Property Description

Second chance opportunity to acquire a high-quality multifamily investment, back on the market due to buyer non-performance and by no fault of the seller. 334 Witmer Street is a fully stabilized eight-unit apartment building located in Downtown Los Angeles near Echo Park, Westlake, and Koreatown. The property features a balanced unit mix of seven one-bedroom units and one three-bedroom, two-bath unit, all fully leased at market rents and positioned for stable cash flow. The building was renovated down to the studs in 2018 with major upgrades including new plumbing, electrical systems with subpanels, mini-split HVAC, dual-pane windows, roof, custom cabinetry, modern counters, and fully updated kitchens and bathrooms. A soft-story seismic retrofit was completed in 2022, adding long-term structural security. Each unit is individually metered for electricity and gas, with tenants paying water, sewer, and trash through a RUBS billing system, helping keep operating expenses low. The property includes six on-site parking spaces behind an automatic remote-controlled gate. Professionally managed and located near major job centers, 334 Witmer Street attracts tenants seeking clean, updated, centrally located housing. This stabilized asset offers a strong 6.74% cap rate on actuals and includes an attractive 4.9% interest-only assumable loan, providing solid cash flow from day one in one of Los Angeles' highest-demand rental corridors.

Location

State CA

County Los Angeles

Area C42 - Downtown L.A.

Zoning LACW

Interior

Heating Electric

Flooring Tile

Fireplaces Type None

Inclusions All seller owned appliances, fixtures, and equipment are included in the sale. This includes refrigerators, dishwashers, ranges and stoves, and microwaves for all units.

Fireplace No

Appliance Dishwasher, Disposal, Gas Oven, Microwave, Range

Laundry None

Exterior

Exterior Feature Rain Gutters

Parking Features Assigned, Covered, Gated

Pool None

Community Features Gated

View Y/N Yes

View City Lights

Roof Type Bitumen

Porch Covered

Total Parking Spaces 6

Private Pool No

Building

Faces West

Story 2

Entry Level Two

Sewer Sewer Tap Paid

Architectural Style Traditional

Level or Stories Two

New Construction No

Construction Status Additions/Alterations,Updated/Remodeled

Others

Senior Community No

Tax ID 5153025011

Security Features Security Gate,Gated Community

Acceptable Financing Cash

Listing Terms Cash

Financing Assumed,Cash

Special Listing Condition Standard

CRMLS – RECore
Listed by Ginger Orsi Compass

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Carlos Elizalde
Carlos Elizalde

REALTOR® | License ID: 02090487

+1(714) 389-8310

Anaheim, CA, 92805, USA

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