940 S Gramercy Pl, Los Angeles, CA 90019 – 24-448139

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$2,495,000

Est. payment - /mo

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10 BD

8 BA

6,412 SqFt

Active

940 S Gramercy Pl Los Angeles, CA 90019

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Norma Mardelli

norma@mardellirealestate.com +1(818) 400-3794

UPDATED:

12/16/2024 11:54 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,412 sqft

Price per Sqft $389

MLS Listing ID 24-448139

Bedrooms 10

Year Built 1965

Lot Size 6,877 Sqft

Acres 0.1579

Property Description

A DIAMOND IN THE ROUGH~~~ THIS CAN BE A CASH COW FOR THOSE WHO CAN IMAGINE. Possibly more units can be delivered VACANT AT CLOSE OF ESCROW. HUGE BEDROOMS, LARGER LIVING ROOMS. First time in the Market in 34 years!! EACH UNIT HAS IT'S OWN CENTRAL A/C. This subject property is a two-story 8-unit apartment building constructed in 1965 with classical and Modern touch architecture situated on a Hard Corner Lot. The rents are significantly below market. The property could also generate additional income potential using the ADU process to add dwellings (buyer to verify). The landlord pays for trash service, but there are separate gas and electric meters for each unit, which the tenants pay for. The property is located within few minutes to Larchmont Village, Restaurants, and Markets, which is a quiet residential neighborhood. Also, provides convenient access to the 10 freeway, Mid-Wilshire, Koreatown, Downtown LA, USC, and has a walk score of 82 (Very Walkable). This offering provides huge upside in future income with stability of current income as it is 100% leased with all tenants paying their full rent on time. One 2 bedroom 1 bathroom unit can be delivered vacant at COE. VERY WELL-MAINTAINED BUILDING, RETROFITTING IS DONE. WELL GATED, QUIET STREET. COIN-OPERATED LAUNDRY FACILITY. BUYER TO VERIFY ALL FACTS.

Location

State CA

County Los Angeles

Area Hancock Park-Wilshire

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Wall Gas

Cooling Window Unit(s)

Equipment Refrigerator, Range/Oven

Exterior

Parking Features Assigned

Garage Spaces 13.0

Building

Story 2

Level or Stories One

Others

Special Listing Condition Standard

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