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1554 S Gramercy Pl, Los Angeles, CA 90019
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1554 S Gramercy Pl Los Angeles, CA 90019

$4,299,000
  • 23 Beds
  • 20 Baths
  • 13,792 Sq.Ft.
For Sale
$4,299,000 Get Pre-Qualified
Map preview of 1554 S Gramercy Pl, Los Angeles, CA 90019

Property Overview: 1554 S Gramercy Pl Los Angeles, CA has 23 bedrooms, 20 bathrooms, 13,792 living square feet and 12,691 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: JUST REDUCED $300,000. A tried-and-true Arlington Heights building on a large corner lot. Mid City buildings, like this, are highly walkable to dining, retail and dining along Venice Blvd. and Western Ave. Secured-access entry to open courtyard-style configuration - and lots of parking in the seismically-retrofitted carports, in addition to a detached parking structure also. Strong, corner lot location, as well. 4% rent increase opportunity in early 2024, too. Part of a 4-Building, 75 unit Portfolio Sale. Available together or separately. The other 3 addresses are as follows: 17 units at 1876 Buckingham Rd. 18 units at 1819 Gramercy Pl. 20 units at 2340-42 Crenshaw Bl.

Listed by Brice Head | BRE #01330706 | CBRE, Inc.
Last checked: 5 minutes ago | Last updated: April 10th, 2024 | Source CRMLS | DOM: 197
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Home details

Lot Sq. Ft
12,691
HOA Dues
$0/mo
Year built
1963
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
23324341
City
Los Angeles
County
Los Angeles
Time on Site
206 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 20
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 3
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,128
  • Total Rent: $3,386
  • Pro Forma/Market Rent: $4,950
Unit Breakdown 2
  • # of Units: 11
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,495
  • Total Rent: $16,451
  • Pro Forma/Market Rent: $22,000
Unit Breakdown 3
  • # of Units: 6
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,859
  • Total Rent: $11,159
  • Pro Forma/Market Rent: $16,200
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.26%
  • Gross Rent Multiplier: 12.66
  • Gross Scheduled Income: --
  • Net Operating Income: $226,136
  • Gross Operating Income: $370,105
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 1554 S Gramercy Pl

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Three Or More
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Carport
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Total # of Units: 20
  • Parcel Number: 5073007008
  • Year Built Source: Assessor
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: 10 Freeway to Western, left on Venice Blvd to Gramercy Pl.
View more facts & features

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Sale History for 1554 S Gramercy Pl

Last sold for $4,000,000 on June 16th, 2020

  • October, 2023

  • Oct 23, 2023

    Date

    Active

    CRMLS: 23324341

    $4,599,000

    Price

  • October, 2020

  • Oct 5, 2020

    Date

    Sold

    CRMLS: 20570184

    $4,000,000

    Price

  • Oct 5, 2020

    Date

    Active Under Contract

    CRMLS: 20570184

    $4,200,000

    Price

  • Oct 2, 2020

    Date

    Expired

    CRMLS: 20570184

    $4,200,000

    Price

  • Jun 15, 2020

    Date

    Withdrawn

    CRMLS: 20570184

    $4,200,000

    Price

  • Apr 9, 2020

    Date

    Active

    CRMLS: 20570184

    $4,200,000

    Price

  • Listing provided courtesy of CRMLS

    Built in 1963, this 20-unit property totals 13,792 SF located in Mid-City's Harvard Heights neighborhood, on the corner of Venice Blvd & Gramercy Place. The building features a unit mix that includes 3 singles, 11 one-bedrooms, and 6 two-bedrooms.This offering presents an investor the opportunity to capture market rents through renovations when the units turn. The property is being offered at a 4.28% CAP rate on current income with substantial rental upside as the current loss to lease is 27%.The property features 20 parking spaces. The soft-story retrofifit work has been completed. The building is separately metered gas & electric. Furthermore, there is a community laundry room for the building with two washers & dryers. The lot is 12,687 SF and zoned R3-1-CPIO.

  • June, 2020

  • Jun 16, 2020

    Date

    Sold (Public Records)

    Public Records

    $4,000,000

    Price

  • December, 2019

  • Dec 20, 2019

    Date

    Sold (Public Records)

    Public Records

    $4,100,000

    Price

Show More

Tax History for 1554 S Gramercy Pl

Assessed Value (2020): $4,101,560
Year Land Value Improved Value Assessed Value
2020 $3,000,000 $1,101,560 $4,101,560

Home Value Compared to the Market

This property vs the competition

1554 S Gramercy Pl is listed 244.2% higher than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $311.7 per/sqft which puts the price per square foot 59.73% lower than the median price per square foot for the city of Los Angeles.

About 1554 S Gramercy Pl

Detailed summary of property

1554 S Gramercy Pl is a multi family located in Los Angeles, CA 90019 and is currently for sale. This multi family property offers 23 bedrooms, 20 bathrooms, roughly 13,792 living square feet, and sits on an approximately 12,691 square foot lot. 1554 S Gramercy Pl was first listed on ArdentRealEstateGroup.com on October 23, 2023. The homeowner is currently asking $4,299,000 and was originally asking $4,599,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 244.2% higher than the median priced home. Local competing homes currently for sale include 2610 Kenwood Ave, 2340 Crenshaw Blvd and 406 S St Andrews Pl. While the average home in Los Angeles, CA is selling in 94 days, 1554 S Gramercy Pl has a days on market of 197 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 1554 S Gramercy Pl Los Angeles, CA 90019 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1554 S Gramercy Pl

Public county record property details
Beds
--
Baths
20
Year built
--
Sq. Ft.
13,792
Lot Size
12,687
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
9
APN
5073-007-008

The source for these homes facts are from public records.

90019 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,599,800
Median List Price/Sq.Ft.
$696
Median Sold Price
$1,620,000
Median Sold Price/Sq.Ft.
$777
Total Inventory
66
Median Sale to List Price %
95.58%
Avg Days on Market
21
Loan Type
Conventional (18.18%), FHA (0%), VA (0%), Cash (9.09%), Other (9.09%)

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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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