940 S Gramercy Place

Los Angeles, CA 90019

$2,495,000

List Price

10

bed Beds

8

shower Baths

6,412 sqft

straighten / sqft

1965

calendar_month Built

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.

Listing Information

List Price $2,495,000
Status Active
MLS 24448139
Type Residential Income
Year Built 1965
Lot Size 6,877
Structure Size 6,412
DOM 26
Courtesy Of Real Broker
Listing Agent Max Lee DRE#01905008

Interior Features

Total Bedroom
Bedrooms 10
Total Bathroom
Bathrooms 8

Exterior Information

Maps

Listing information courtesy of: Max Lee, Real Broker 213-434-2433. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 29th, 2024 at 10:03 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.