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.
Property Details
Price:
$2,495,000
MLS #:
24448139
Status:
Active
Baths:
0
Address:
940 S Gramercy Place
Type:
Residential Income
Neighborhood:
c18hancockparkwilshire
City:
Los Angeles
Listed Date:
Oct 2, 2024
State:
CA
ZIP:
90019
Lot Size:
6,877 sqft / 0.16 acres (approx)
Year Built:
1965
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Schools
Interior
Appliances
Refrigerator
Exterior
Parking Features
Assigned
Parking Spots
13.00
Stories Total
2
Financial
Map
Community
- Address940 S Gramercy Place Los Angeles CA
- AreaC18 – Hancock Park-Wilshire
- CityLos Angeles
- CountyLos Angeles
- Zip Code90019
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940 S Gramercy Place
Los Angeles, CA
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