940 South Gramercy Place
$2,495,000
10
8
6,412
6,412
$389
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...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.
- Listed by Max Lee • DRE #01905008 • Brokerage DRE #01180851 • Real Broker
Property Details for 940 South Gramercy Place
Zoning
LAR3
Parcel Number5081032001
Total Units8.0
Living Area6412
Source Living AreaVendor Enhanced
AreaHancock Park-Wilshire
Vacancy Rate3
Lot Size Area6877
LISTING UPDATED: 11/18/2024 10:22 AM
Property Details for 940 South Gramercy Place
Status | Active |
---|---|
MLS # | 24-448139 |
Days on Market | 51 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1965 |
Lot Size | 0.16 AC / 6,877 SF |
County | Los Angeles County |
Building Information for 940 South Gramercy Place
Stories2Residences-Year Built1965Building Size-Lot Size0.16 AC / 6,877 SF
Property Information for 940 South Gramercy Place
Property History for 940 South Gramercy Place
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 940 South Gramercy Place
Taxable ValueLand$404,938Additions$673,733Total$1,078,671
Tax Record2024$14,083 ($1,174 / month)
Home Facts
Total Finished SqFt6,412 SqFtAbove Grade Finished SqFt6,412 SqFtLot Size6,875 SqFtStyleMulti-Family Res (5+ Units)Year Built1965ZoningLAR3CountyLOS ANGELESAPN5081-032-001
Schools near 940 South Gramercy Place
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | 6 to 8 |
Rating | School | Distance |
---|---|---|
Wilton Place Elementary School PublicK to 5 | ||
Pio Pico Middle School Public6 to 8 | ||
Los Angeles Senior High School Public9 to 12 | ||
Magnolia Science Academy 6 School Charter6 to 8 |
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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