261 Witmer, Los Angeles, CA 90026 – PW25256584

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Sean Beattie Jr.

info@seanbeattiejr.com +1(415) 845-8732

$1,295,000

Est. payment - /mo

4 Beds

0.25 Acres Lot

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW25256584

Bedrooms 4

Lot Size 0.252 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

We are pleased to present 261 Witmer Ave, a seven-unit apartment building located in the Filipinotown/Westlake neighborhood of Los Angeles to market for the first time in over fifty years. The property is made up of two side by side single story structures consisting of five 1 bed/1 bath units, one 2 bed/1 bath unit, and one studio unit on a large 10,958 square foot lot that runs block to block. Parking is ample, with six single-car garages at the rear of the property and one surface parking space in front of each garage. Under SB 1211, a new owner has the opportunity to convert and expand the garages into ADUs, allowing for the construction of up to a two-story, seven-unit ADU additionsubstantially increasing the propertys income potential. Current rents are approximately 35% below market, providing strong upside potential for a new buyer. The site is zoned R-3 with a Tier 2 TOC density bonus, allowing for the development of up to 13 units by right and 20 units with the density bonus.

Location

State CA

County Los Angeles

Zoning Appraiser

Direction Witmer and 3rd

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 1

Level or Stories 1

Others

Senior Community No

Tax ID 5153027007

Acceptable Financing Conventional

Listing Terms Conventional

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Listed by Jackson Jorgensen Younglewin Advisors, Inc.

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Sean Beattie Jr.

+1(415) 845-8732

Agent | CA DRE# 01944311

Agent CA DRE# 01944311

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261 Witmer Los Angeles, CA 90026

Sean Beattie Jr.

Key Details

Location

Interior

Exterior

Building

Others

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