940 S Gramercy PL Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90019
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,412 sqft
Price per Sqft $389
MLS Listing ID 24448139
Bedrooms 10
Year Built 1965
Lot Size 6,878 Sqft
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 C18 - Hancock Park-Wilshire
Zoning LAR3
Exterior
Garage Assigned
Building
Story 2
New Construction No
Others
Special Listing Condition Standard