713 North Gramercy Place

Los Angeles, CA 90038

$3,695,000
Price
16
Beds
16
Baths
7,554 Sq. Ft.
$489 / Sq. Ft.
7,554
Sq. Ft.
$489
per Sq. Ft.

Virtual Tour

Virtual Tour

Description

713 N Gramercy Pl is an ultra-high-end Larchmont Village 2024 fourplex that is FULLY LEASED with A+ tenants! This entire fourplex was rented in record speed (in the midst of the holidays) due to the unique and upscale nature of these units and the fantastic central location. The tenant demand was massive! Thanks to the strong rents, this will be delivered at a real 5.5% cap rate. We project that upon future re-rental of these units the rent will be exponentially higher outside of the holiday season-...713 N Gramercy Pl is an ultra-high-end Larchmont Village 2024 fourplex that is FULLY LEASED with A+ tenants! This entire fourplex was rented in record speed (in the midst of the holidays) due to the unique and upscale nature of these units and the fantastic central location. The tenant demand was massive! Thanks to the strong rents, this will be delivered at a real 5.5% cap rate. We project that upon future re-rental of these units the rent will be exponentially higher outside of the holiday season- meaning massive future growth on this A+ piece of real estate. This exquisite non-rent-controlled property is made up of ALL 4 bedroom townhome-style units with top-tier finishes, huge decks off the living space, spacious walk-in closets, modern sleek finishes and in-unit washers and dryers. With 10 parking spots (6 garage and 4 exterior), this property offers an unheard-of parking advantage in the area. The unbeatable location, combined with the impressive units and the fantastic outdoor space with city views makes this the easiest property to rent out! AKA low vacancy rate! With low vacancy rate, high return, minimal expenses, no rent control, all separate meters, presence in an opportunity zone, a 1-year builder’s warranty and all new everything, this is an excellent investment opportunity. We project this stable asset will go up year after year!
  1. Listed by Elizabeth Maddox • DRE #01921425 • Brokerage DRE #02230850 • Myunits.com Inc. • 818-850-8485
  2. Listed by Isaac Davidi • DRE #01819489 • Brokerage DRE #01896704 • On Track Property

Property Details for 713 North Gramercy Place

Architectural Style
Modern
View
City Lights, Neighborhood
Parking Spaces Total
10
Private Pool
No
Cooling Type
Central Forced Air
Total Units
4.0
Building Type
Detached
Lot Size Source
Assessor
LISTING UPDATED: 01/07/2025 09:05 AM

Property Details for 713 North Gramercy Place

StatusActive
MLS #BB24215884
Days on Market49
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built2024
Lot Size0.16 AC / 6,756 SF
CountyLos Angeles County

Virtual Tour

Building Information for 713 North Gramercy Place

Stories3Residences-Year Built2024Building Size-Lot Size0.16 AC / 6,756 SF

Property Information for 713 North Gramercy Place

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $266,220
  • Gross Scheduled Income: $266,220
  • Vacancy Allowance Rate: 4
  • Gross Operating Income: $255,571
  • Net Operating Income: $203,321
  • Gross Multiplier: 13.88
  • Cap Rate: 5.5
Expense Details
  • Operating Expense: $52,250
  • New Taxes Expense: $44,318
  • Gardener Expense: $1,200
  • Electric Expense: $600
  • Insurance Expense: $4,532
  • Maintenance Expense: $1,600
  • Trash Expense: $0
  • Total Expenses: $52,250
Tax / Assessment Info
  • Tax Annual Amount: $44,318
  • Tax Tract Number: 803
  • Tax Census Tract: 1917.10
  • CFD/Mello-Roos Fee: $465
  • Tax Lot: 24
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Gas Oven, Gas Range, Microwave, Refrigerator
  • Equipment: Dishwasher, Dryer, Dryer Included, Gas Dryer Hookup, Inside, Microwave, Refrigerator, Washer, Washer Hookup, Washer Included
  • Room Type: Kitchen, Living Room
  • Laundry: Yes
  • Laundry Features: Dryer Included, Gas Dryer Hookup, Inside, Washer Hookup, Washer Included
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Central Air
  • Heating Type: Central
  • Heating: Central
  • Flooring: Vinyl
  • Virtual Tour URL Branded: https://www.myunits.com/buy/713gramercy
  • Virtual Tour URL Unbranded: https://youtu.be/nuFLw1D25Bo
Exterior Features
  • Window Features: Double Pane Windows
  • Entry Location: 1
  • Property Condition: Turnkey
  • View Description: City Lights
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Landscaped
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Three Or More
  • Water: Public
  • Sewer: Public Sewer
  • Electric: Standard
  • Water Source: Public
Parking Info
  • Garage Spaces: 6
  • Parking: Yes
  • Parking Garage: Garage
  • Uncovered Spaces: 4
  • Open Other Spaces Total: 4
  • Parking Garage Spaces: 6
  • Carport Spaces: 0
  • Parking Features: Garage, Off Street
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $5,495
  • Unit Type Total Rent: $5,495
  • Unit Type Pro Forma: 5495
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $5,495
  • Unit Type Total Rent: $5,495
  • Unit Type Pro Forma: 5495
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $5,495
  • Unit Type Pro Forma: 5500
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Baths Total: 4
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $5,495
  • Unit Type Pro Forma: 5695
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 2
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Number With Dishwasher: 4
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Number With Disposal: 4

Property History for 713 North Gramercy Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 713 North Gramercy Place

Taxable ValueLand$1,020,000Additions$306,000Total$1,326,000
Tax Record2024$16,370 ($1,364 / month)
Home Facts
Beds0Total Finished SqFt2,112 SqFtAbove Grade Finished SqFt2,112 SqFtLot Size6,754 SqFtStyleSingle Family ResidenceYear Built1912ZoningLAC4CountyLOS ANGELESAPN5535-014-024

Schools near 713 North Gramercy Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Santa Monica Boulevard Community Charter School
Charter - K to 6
Joseph Le Conte Middle School
Public - 6 to 8
STEM Academy at Bernstein High
Public - 9 to 12
Helen Bernstein High School
Public - 9 to 12
Rating
School
Distance
Santa Monica Boulevard Community Charter School
CharterK to 6

Joseph Le Conte Middle School
Public6 to 8

STEM Academy at Bernstein High
Public9 to 12

Helen Bernstein High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 713 North Gramercy Place, Los Angeles, CA 90038

713 North Gramercy Place is a multi-family home for sale in Los Angeles, CA 90038. This property was listed for sale on October 23, 2024 by Myunits.com Inc., it's currently listed at $3,695,000. It has been on the market for a total of 49 days and was last sold on November 23, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Santa Monica Boulevard Community Charter School, Joseph Le Conte Middle School and STEM Academy at Bernstein High. 713 North Gramercy Place is a 16-bed, 16-bath, 7,554 sqft multi-family home built in 2024.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Myunits.com Inc., Elizabeth Maddox, DRE #01921425; On Track Property, Isaac Davidi, DRE #01819489

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.