334 Witmer ST new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90017
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,135 sqft
Price per Sqft $320
MLS Listing ID 25616201
Bedrooms 10
Year Built 1949
Lot Size 6,507 Sqft
Property Description
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 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. 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.
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.
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
Building
Story 2
Sewer Sewer Tap Paid
New Construction No
Others
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard