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114 S Gramercy Pl, Los Angeles, CA 90004
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114 S Gramercy Pl Los Angeles, CA 90004

$8,550,000 Sold Price as of 05/14/2021
  • 35 Beds
  • 42 Baths
  • 24,872 Sq.Ft.
Sold
$8,550,000 Sold Price as of 05/14/2021 Refinance Your Mortgage
Map preview of 114 S Gramercy Pl, Los Angeles, CA 90004

Property Overview: 114 S Gramercy Pl Los Angeles, CA has 35 bedrooms, 42 bathrooms, 24,872 living square feet and 14,092 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 114 S Gramercy Place is a 33-unit apartment building in the Hancock Park neighborhood of Los Angeles, CA. Built in 1965, the three-story building is comprised of seven studios, seventeen one-bedroom, one-bathroom, and nine two-bedroom, two-bathroom units. The property features secure entry, a community pool, tanning deck, garage parking, and an on-site laundry facility for an investor to capitalize on additional income. Situated south of Beverly Boulevard and west of Western Avenue this location is in Hancock Park, Koreatown, and Hollywood. This location offers tenants a variety of nearby shopping, dining, retail, and entertainment that lines Western Avenue and the surrounding area. Additionally, the property is 0.8 miles from the Wilshire / Western Metro Station Purple Line and walking distance to multiple bus stops. The property is also conveniently located in proximity to the 101 Freeway providing easy access to other neighborhoods in Los Angeles.

Listed by Daniel Withers | BRE #01325901 | Matthews Real Estate Investment Services
Last checked: 5 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 22

Home details

Lot Sq. Ft
14,092
HOA Dues
$0/mo
Year built
1965
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21697772
City
Los Angeles
County
Los Angeles
Time on Site
1226 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 33
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 7
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,408
  • Total Rent: $9,854
  • Pro Forma/Market Rent: $11,200
Unit Breakdown 2
  • # of Units: 17
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,778
  • Total Rent: $30,218
  • Pro Forma/Market Rent: $34,000
Unit Breakdown 3
  • # of Units: 9
  • # of Beds: 2
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,014
  • Total Rent: $18,129
  • Pro Forma/Market Rent: $22,050
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 12.17
  • Gross Scheduled Income: --
  • Net Operating Income: $410,743
  • Gross Operating Income: $671,639
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 114 S Gramercy Pl

Interior Features
Laundry Information
  • Has Laundry
  • Community
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Garage
Property Information
  • Total # of Units: 33
  • Parcel Number: 5516022024
Location / Neighborhood
Location Information
  • Directions: West of Western Avenue off 1 1st St and S Gramercy Pl.
View more facts & features

Local Los Angeles Agent

Sale History for 114 S Gramercy Pl

Last sold for $8,550,000 on May 14th, 2021

  • May, 2021

  • May 18, 2021

    Date

    Sold

    CRMLS: 21697772

    $8,550,000

    Price

  • Mar 23, 2021

    Date

    Pending

    CRMLS: 21697772

    $8,600,000

    Price

  • Feb 25, 2021

    Date

    Active

    CRMLS: 21697772

    $8,600,000

    Price

  • December, 2014

  • Dec 16, 2014

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • December, 2014

  • Dec 16, 2014

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 114 S Gramercy Pl

Assessed Value (2020): $6,721,195
Year Land Value Improved Value Assessed Value
2020 $3,296,816 $3,424,379 $6,721,195

Home Value Compared to the Market

This property vs the competition

114 S Gramercy Pl sold on May 14, 2021 for 575.04% higher than the current median sold price for the city of Los Angeles which is $1,274,000. The median sold price per/sqft for Los Angeles is $791 and this home is sold at $345.77 per/sqft which puts the price per square foot 56.29% lower than the current median sale per square foot for the city of Los Angeles.

About 114 S Gramercy Pl

Detailed summary of property

114 S Gramercy Pl is a multi family that recently sold in Los Angeles, CA 90004. This multi family property offered 35 bedrooms, 42 bathrooms, roughly 24,872 living square feet, and sits on an approximately 14,092 square foot lot. 114 S Gramercy Pl was first listed on ArdentRealEstateGroup.com on February 25, 2021. The homeowner sold the property for $8,550,000. Home in Los Angeles are selling for a median price of $1,274,000 and a median price per square foot of $791. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 575.04% higher than the current median priced home. Local homes that are currently for sale include 6812 11th Ave, 1818 Camden Ave and 11666 Mayfield Ave. While the average home in Los Angeles, CA is selling in 100 days, 114 S Gramercy Pl has a days on market of 22 days. There are currently 3938 homes for sale in the Los Angeles real estate market and 2648 of them are single family homes while 1176 of them are condos and 106 are townhomes. For more information on this home for sale at 114 S Gramercy Pl Los Angeles, CA 90004 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 114 S Gramercy Pl

Public county record property details
Beds
--
Baths
--
Year built
1965
Sq. Ft.
24,872
Lot Size
14,091
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
9,10
APN
5516-022-024

The source for these homes facts are from public records.

90004 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,195,000
Median List Price/Sq.Ft.
$764
Median Sold Price
$2,215,000
Median Sold Price/Sq.Ft.
$919
Total Inventory
68
Median Sale to List Price %
110.81%
Avg Days on Market
24
Loan Type
Conventional (7.69%), FHA (0%), VA (0%), Cash (15.38%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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