Search
1630 S Gramercy Pl, Los Angeles, CA 90019
Image 2 for 1630 S Gramercy Pl, Los Angeles, CA 90019
Image 3 for 1630 S Gramercy Pl, Los Angeles, CA 90019
View Photos

1630 S Gramercy Pl Los Angeles, CA 90019

$2,520,000
  • 21 Beds
  • 14 Baths
  • 6,181 Sq.Ft.
For Sale
$2,520,000 Get Pre-Qualified
Map preview of 1630 S Gramercy Pl, Los Angeles, CA 90019

Property Overview: 1630 S Gramercy Pl Los Angeles, CA has 21 bedrooms, 14 bathrooms, 6,181 living square feet and 10,713 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: 7 units with an assumable loan that is fixed at a 3.150% interest rate until 2027, and part of a 3-building portfolio sale. 1630 S Gramercy Place is a 1980's construction asset that is NOT subject to LA City Rent Control. This 7-unit apartment building is in the middle of centrally located Arlington Heights and boasts a top-heavy unit mix with all 3 Bed/2 Bath units and has 14 on-site & reserved parking spaces for tenants (7 tandem). The property is being offered at an attractive 10.90 GRM and 6.00% cap rate on current rents and operating expenses. Each unit was remodeled and is getting top of the market rent that'll couple perfectly with a low 3.150% interest rate to generate a rare 8% cash on cash return on Day 1. All units have in-unit washer & dryers, and in-unit water heaters to help escape common area gas bills. Tenants are on RUBS for utility reimbursements for water, sewer & trash, and the building is separately metered for gas & electricity which keeps this building operating with low utility bills. Future land value will remain high at this property as time passes for it being located on a 10,710 SF lot that's zoned LAR3. With the remodeled units, this property will be an easy-to-manage asset to keep for generations with high cash flow, low maintenance & repairs, and minimal upkeep. Can be bought together or separate with 411 Witmer Street and 4046 Nicolet Ave.

Listed by Jonathan Rawson | BRE #02010400 | Avenue Realty Group
Last checked: 5 minutes ago | Last updated: June 28th, 2024 | Source CRMLS | DOM: 12
Get a $7,560 Cash Reward New

Buy this home with Ardent Real Estate Group and get $7,560 back.

Call/Text (714) 706-1823

Home details

Lot Sq. Ft
10,713
HOA Dues
$0/mo
Year built
1986
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24406423
City
Los Angeles
County
Los Angeles
Time on Site
11 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,683
  • Total Rent: $2,683
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,591
  • Total Rent: $2,591
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,652
  • Total Rent: $2,652
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,587
  • Total Rent: $2,587
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,517
  • Total Rent: $2,517
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,587
  • Total Rent: $2,587
  • Pro Forma/Market Rent: $2,750
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $2,566
  • Total Rent: $2,566
  • Pro Forma/Market Rent: $2,750
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6%
  • Gross Rent Multiplier: 10.9
  • Gross Scheduled Income: --
  • Net Operating Income: $151,172
  • Gross Operating Income: $223,863
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1630 S Gramercy Pl

No upcoming open houses

Schedule Tour

Property Details for 1630 S Gramercy Pl

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace, Electric
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Fireplace Information
  • No Fireplace
  • None
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal, Microwave, Refrigerator
Interior Features
  • Ceiling Fan(s)
  • Levels: Two
  • Security Features: Gated Community
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 14
  • Has Parking
  • Parking Features: Assigned
Property Information
  • Total # of Units: 7
  • Parcel Number: 5073015006
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: North of Washington, South of Venice, West of Western & East of Arlington
View more facts & features

Local Los Angeles Agent

Sale History for 1630 S Gramercy Pl

Last sold for $2,200,000 on March 30th, 2018

  • June, 2024

  • Jun 20, 2024

    Date

    Active

    CRMLS: 24406423

    $2,520,000

    Price

  • September, 2020

  • Sep 14, 2020

    Date

    Expired

    CRMLS: 20563982

    $2,645,000

    Price

  • Mar 30, 2020

    Date

    Withdrawn

    CRMLS: 20563982

    $2,645,000

    Price

  • Mar 18, 2020

    Date

    Price Change

    CRMLS: 20563982

    $2,645,000

    Price

  • Mar 13, 2020

    Date

    Active

    CRMLS: 20563982

    $2,875,000

    Price

  • Listing provided courtesy of CRMLS

    We are proud to present this 7-unit multifamily property located at 1630 S Gramercy Pl, Los Angeles, CA 90019. This 6,181 square foot property sits on a large lot of 0.25 acres, and it boasts an excellent unit mix of all 7 of the units being 3-bed/2-bath units.Built in 1986, this property is not subject to LA's rent control laws. However, it is subject to California's new rent control law AB-1482 which allows for rent increases of "5% + CPI" each year. Furthermore, the property is also not on LA's list for seismic retrofitting, meaning a buyer can avoid a large expense that many other LA multifamily properties have.The seller has already renovated 4 of the 7 units, and the only 3 non-renovated units will be delivered vacant at close of escrow. This allows a savvy investor to quickly get the entire property up to full market rents and create a heavy cash flow stream.This offering is priced at an extremely attractive 6.05% CAP rate and a 11.48 GRM.

  • July, 2019

  • Jul 1, 2019

    Date

    Expired

    CRMLS: PW19112350

    $2,345

    Price

  • Jun 4, 2019

    Date

    Hold

    CRMLS: PW19112350

    $2,345

    Price

  • Jun 1, 2019

    Date

    Active

    CRMLS: PW19112350

    $2,345

    Price

  • May 29, 2019

    Date

    Hold

    CRMLS: PW19112350

    $2,345

    Price

  • May 24, 2019

    Date

    Active

    CRMLS: PW19112350

    $2,345

    Price

  • May 23, 2019

    Date

    Withdrawn

    CRMLS: PW19112350

    $2,345

    Price

  • May 23, 2019

    Date

    Price Change

    CRMLS: PW19112350

    $2,345

    Price

  • May 14, 2019

    Date

    Active

    CRMLS: PW19112350

    $2,495

    Price

  • Listing provided courtesy of CRMLS

  • March, 2018

  • Mar 30, 2018

    Date

    Sold (Public Records)

    Public Records

    $2,200,000

    Price

Show More

Tax History for 1630 S Gramercy Pl

Assessed Value (2020): $2,290,080
Year Land Value Improved Value Assessed Value
2020 $1,768,680 $521,400 $2,290,080

Home Value Compared to the Market

This property vs the competition

1630 S Gramercy Pl is listed 103.88% higher than the median list price for the city of Los Angeles which has a median list price of $1,236,000. The median price per/sqft for Los Angeles is $775 and this home is listed at $407.7 per/sqft which puts the price per square foot 47.39% lower than the median price per square foot for the city of Los Angeles.

About 1630 S Gramercy Pl

Detailed summary of property

1630 S Gramercy Pl is a multi family located in Los Angeles, CA 90019 and is currently for sale. This multi family property offers 21 bedrooms, 14 bathrooms, roughly 6,181 living square feet, and sits on an approximately 10,713 square foot lot. 1630 S Gramercy Pl was first listed on ArdentRealEstateGroup.com on June 20, 2024. The homeowner is currently asking $2,520,000. The median priced home in Los Angeles is $1,236,000 with a median price per square foot of $775. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 103.88% higher than the median priced home. Local competing homes currently for sale include 940 S Gramercy Pl, 1145 S Kingsley Dr and 1139 S Kingsley Dr. While the average home in Los Angeles, CA is selling in 99 days, 1630 S Gramercy Pl has a days on market of 12 days. There are currently 3982 homes for sale in the Los Angeles real estate market and 2673 of them are single family homes while 1195 of them are condos and 107 are townhomes. For more information on this home for sale at 1630 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 1630 S Gramercy Pl

Public county record property details
Beds
--
Baths
14
Year built
1986
Sq. Ft.
6,181
Lot Size
10,709
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
61,62
APN
5073-015-006

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
$1,399,000
Median List Price/Sq.Ft.
$690
Median Sold Price
$1,935,500
Median Sold Price/Sq.Ft.
$855
Total Inventory
79
Median Sale to List Price %
102.14%
Avg Days on Market
18
Loan Type
Conventional (14.29%), FHA (0%), VA (14.29%), Cash (14.29%), Other (14.29%)

Tour This Home

Buy with Ardent Real Estate Group and save $7,560.

Image Description
Contact Jon
Los Angeles Agent
Call, Text or Message
(714) 706-1823
Get a $7,560 Cash Reward New

Buy this home with Ardent Real Estate Group and get $7,560 back.

Call/Text (714) 706-1823

Homes for Sale Near 1630 S Gramercy Pl

Nearby Homes for Sale

1532 S Wilton Pl, Los Angeles, CA 90019
$2,970,000
32 Beds
16 Baths
9916 Sq.Ft.
1532 S Wilton Pl
Los Angeles, CA 90019
1415 S St Andrews Pl, Los Angeles, CA 90019
$2,799,000
12 Beds
10 Baths
9268 Sq.Ft.
1415 S St Andrews Pl
Los Angeles, CA 90019
1251 S Wilton Pl, Los Angeles, CA 90019
$2,350,000
9 Beds
8 Baths
5634 Sq.Ft.
1251 S Wilton Pl
Los Angeles, CA 90019
1111 3rd Ave, Los Angeles, CA 90019
$2,400,000
9 Beds
9 Baths
4262 Sq.Ft.
1111 3rd Ave
Los Angeles, CA 90019
1250 5th Ave, Los Angeles, CA 90019
$2,290,000
25 Beds
20 Baths
5910 Sq.Ft.
1250 5th Ave
Los Angeles, CA 90019
2203 4th Ave, Los Angeles, CA 90018
$2,925,000
12 Beds
8 Baths
8104 Sq.Ft.
2203 4th Ave
Los Angeles, CA 90018
1229 S Kingsley Dr, Los Angeles, CA 90006
$3,000,000
10 Beds
10 Baths
5344 Sq.Ft.
1229 S Kingsley Dr
Los Angeles, CA 90006
1121 5th Ave, Los Angeles, CA 90019
$2,450,000
7 Beds
2 Baths
14192 Sq.Ft.
1121 5th Ave
Los Angeles, CA 90019

Recently Sold Homes Near 1630 S Gramercy Pl

1554 S Gramercy Pl, Los Angeles, CA 90019
$4,000,000 Last Sold Price
23 Beds
20 Baths
13792 Sq.Ft.
1554 S Gramercy Pl
Los Angeles, CA 90019
1650 S Gramercy Pl, Los Angeles, CA 90019
$3,710,000 Last Sold Price
26 Beds
20 Baths
12446 Sq.Ft.
1650 S Gramercy Pl
Los Angeles, CA 90019
1625-1 S St Andrews Pl, Los Angeles, CA 90019
$3,835,300 Last Sold Price
29 Beds
19 Baths
-- Sq.Ft.
1625-1 S St Andrews Pl
Los Angeles, CA 90019
1645 S St Andrews Pl, Los Angeles, CA 90019
$2,100,000 Last Sold Price
78 Beds
169 Baths
6827 Sq.Ft.
1645 S St Andrews Pl
Los Angeles, CA 90019

Related Resources to 1630 S Gramercy Pl

New Listings in 90019
Popular Zip Codes
Popular Cities
Other Los Angeles Resources

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.

Call