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940 Gramercy Place
Los Angeles, CA 90019
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 INFORMATION
| MLS # | 24448139 | Lot Size | 6,877 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 2,495,000
Price Per SqFt: $ 389 |
DOM | 213 Days |
| Address | 940 Gramercy Place | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 6,412 Sq. Ft. |
| Postal Code | 90019 | Garage | N/A |
| County | Los Angeles | Year Built | 1965 |
| Bed / Bath | 10 / 0 | Parking | 13 |
| Built In | 1965 | Status | Active |
INTERIOR FEATURES
| Has Appliances | Yes |
| Kitchen Appliances | Refrigerator |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,661
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 10/02/2024 | Listed | $2,495,000 |
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Listing provided courtesy of Max Lee, Real Broker. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
