Property listed by Compass, Ginger Orsi 323-593-6999
334 Witmer Street
Los Angeles, CA 90017
Beds
10
Baths
9
Square Ft.
5,135
$1,645,000
334 Witmer Street is a fully stabilized eight unit apartment building located in Downtown Los Angeles near Echo Park, Westlake, and Koreatown. The property offers a balanced unit mix of seven one bedroom units and one three bedroom two bath unit, all fully leased at market rents. The entire building… Read More was renovated down to the studs in 2018 with major upgrades that include new plumbing, electrical, sub panels, mini split HVAC systems, dual pane windows, custom cabinetry, modern counters, and updated kitchens and bathrooms. A soft story earthquake retrofit was completed in 2022, adding long term structural security. Each unit is separately metered, and tenants cover most utilities via RUBS, reducing operating costs. The property also features five on site parking spaces behind an automatic remote controlled gate. Durable vinyl and tile flooring throughout keeps maintenance low and predictable. Professionally managed and located near major job centers, 334 Witmer attracts tenants seeking clean, updated, centrally located housing. This is a stable, cash flowing investment in one of Los Angeles highest demand rental corridors. Individually metered for electric and gas and tenants pay RUBs for water sewer trash. This stabilized asset offers a 6.74 Cap Rate on actuals, along with an attractive 4.9 interest only assumable loan that provides strong cash flow from day one. Read Less
Listing Snapshot
Days Online
27
Last Updated
Beds
10
Square Ft.
5,135
Lot Size
0.15 Acres
Year Built
1949
MLS Number
25616201
Additional Details
Appliances & Equipment
Dishwasher, Disposal, GasOven, Microwave, Range
Building
Built in 1949, Living area: 5135.0, 8 buildings, Building faces West, 2 stories, Levels: Two, Entry level: 1, Entry location: Ground Level w/steps, Construction Materials: Stucco, WoodSiding
Community
Gated
Exterior Features
Patio/Porch Features: Covered, RainGutters
Fireplaces
None
Floors
Tile
Heating
Electric
Income
Gross Income: $183,635, Gross ScheduledIncome: $183,635, Net Operating Income: $176,290
Laundry
None
Lot
0.1494 acres
Parking
4 open parking spaces, 6 total parking spaces, Assigned, Covered, Gated
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. 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.
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