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826 S Gramercy Pl, Los Angeles, CA 90005
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826 S Gramercy Pl Los Angeles, CA 90005

$2,400,000
  • 11 Beds
  • 11 Baths
  • 6,293 Sq.Ft.
For Sale
$2,400,000 Get Pre-Qualified
Map preview of 826 S Gramercy Pl, Los Angeles, CA 90005

Property Overview: 826 S Gramercy Pl Los Angeles, CA has 11 bedrooms, 11 bathrooms, 6,293 living square feet and 7,499 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: This 8 unit two story apartment complex is located in the heart of the mid-Wilshire area near Koreatown, Hancock Park, and downtown Los Angeles. It is situated on a quiet street and is conveniently located near markets and restaurants. The apartment complex, which consists of one 3+2, two 2+2, four 1+1, and one studio units, has on site parking and is always in high demand with very little vacancy. The current rents are low so there is potential for a significant increase in rental income. In addition, the on-site laundry facility also currently provides additional income for the owner which is about $200/month or $2,400/year and is not included in the gross schedule rent figure. The apartment, which recently has a new roof, is a low maintenance building, is easy to maintain, and is to be sold as-is present condition.

Listed by THOMAS LO | BRE #01842952 | Thomas Iping Lo, Broker
Last checked: 14 minutes ago | Last updated: March 2nd, 2024 | Source CRMLS | DOM: 251
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Home details

Lot Sq. Ft
7,499
HOA Dues
$0/mo
Year built
1960
Garage
--
Property Type:
Apartment
Status
Active
MLS#
WS23141948
City
Los Angeles
County
Los Angeles
Time on Site
264 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Electric Meters: 8
  • # of Gas Meters: 8
  • # of Water Meters: 0
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $673
  • Total Rent: $673
  • Pro Forma/Market Rent: $1,100
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 3
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,000
  • Total Rent: $3,000
  • Pro Forma/Market Rent: $2,950
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $990
  • Total Rent: $990
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,085
  • Total Rent: $2,085
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,428
  • Total Rent: $1,428
  • Pro Forma/Market Rent: $2,300
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,669
  • Total Rent: $1,669
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,565
  • Total Rent: $1,565
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,404
  • Total Rent: $1,404
  • Pro Forma/Market Rent: $1,900
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 15.6
  • Gross Scheduled Income: $153,802
  • Net Operating Income: $104,419
  • Gross Operating Income: $153,802
  • Laundry Income: $2,400
  • Laundry Own/Lease: Own
Annual Expense Breakdown
  • Total Operating Expense: $49,383
  • Electric: $720
  • Gas/Fuel: $1,212
  • New Taxes: $29,751
  • Trash: $4,020
  • Gardener: $1,320
  • Insurance: $5,220
  • Maintenance: $2,400
  • Professional Management: $0
  • Water/Sewer: $6,900

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Property Details for 826 S Gramercy Pl

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Carpet, Wood
Kitchen Information
  • Has Appliances
  • Dishwasher, Disposal, Gas Range, Refrigerator
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • Roof: Asphalt, Flat
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Assigned
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 8
  • Parcel Number: 5092025015
  • Year Built Source: Public Records
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Assessment Information
  • No Assessments
  • Assessments: None
Location / Neighborhood
Location Information
  • Directions: West of Western Avenue, East of Wilton Avenue, South of 8th Street, North of 9th Street
Neighborhood Information
  • Community Features: Suburban
View more facts & features

Local Los Angeles Agent

Sale History for 826 S Gramercy Pl

Last sold for $2,375,000 on April 7th, 2020

  • August, 2023

  • Aug 13, 2023

    Date

    Active

    CRMLS: WS23141948

    $2,550,000

    Price

  • April, 2020

  • Apr 7, 2020

    Date

    Sold

    CRMLS: 20555118

    $2,375,000

    Price

  • Apr 7, 2020

    Date

    Pending

    CRMLS: 20555118

    $2,399,000

    Price

  • Feb 17, 2020

    Date

    Active

    CRMLS: 20555118

    $2,399,000

    Price

  • Listing provided courtesy of CRMLS

    This 8 unit Apartment is located in prominent [Hancock Park-Wilshire Area], Prime Korea Town close to Markets and Restaurants, yet tree lined quiet neighborhood. Tenants could enjoy this benefits and Landlord is worry free for vacancy or other concerns. Units are consists of One 3B+2B, Two 2B+2B, Four 1B+1B, one Single. Extra Laundry income, easy to maintain, no issues with tenants. Potential on Rental Income Increase.

  • April, 2020

  • Apr 7, 2020

    Date

    Sold (Public Records)

    Public Records

    $2,375,000

    Price

  • August, 2019

  • Aug 4, 2019

    Date

    Canceled

    CRMLS: 17229104

    $2,190,000

    Price

  • Jul 15, 2017

    Date

    Active Under Contract

    CRMLS: 17229104

    $2,190,000

    Price

  • May 9, 2017

    Date

    Active

    CRMLS: 17229104

    $2,190,000

    Price

  • Listing provided courtesy of CRMLS

    Desirable rental Area at west side of Mid Wilshire area, up side income potential with good room combination of units. Most of units are spacious and comfortable floor plans. Low maintenance building. property to be sold as-is present condition. Drive by only. showing with accepted offer only. Buyer to cooperate with seller 's 1031 exchange with no cost to buyer.

  • July, 2013

  • Jul 29, 2013

    Date

    Sold (Public Records)

    Public Records

    $1,330,000

    Price

  • July, 2013

  • Jul 22, 2013

    Date

    Sold

    CRMLS: 13652453

    $1,330,000

    Price

  • Feb 15, 2013

    Date

    Active

    CRMLS: 13652453

    $1,390,000

    Price

  • Listing provided courtesy of CRMLS

    Located in a Prime Rental Area: Heart of Korea-town/ Mid Wilshire1U /4bd+2ba, 2U /2bd+1.5ba, 4U /1bd+1ba, 1U /Single. 8 Parking SpaceSeparately Metered for Gas & Electric. Rental Upside Potential.PLEASE DO NOT DISTURB TENANTS. DRIVE BY ONLY.

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Tax History for 826 S Gramercy Pl

Assessed Value (2020): $1,490,787
Year Land Value Improved Value Assessed Value
2020 $773,416 $717,371 $1,490,787

Home Value Compared to the Market

This property vs the competition

826 S Gramercy Pl is listed 95.92% higher than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $381.38 per/sqft which puts the price per square foot 50.73% lower than the median price per square foot for the city of Los Angeles.

About 826 S Gramercy Pl

Detailed summary of property

826 S Gramercy Pl is a apartment located in Los Angeles, CA 90005 and is currently for sale. This apartment offers 11 bedrooms, 11 bathrooms, roughly 6,293 living square feet, and sits on an approximately 7,499 square foot lot. 826 S Gramercy Pl was first listed on ArdentRealEstateGroup.com on August 13, 2023. The homeowner is currently asking $2,400,000 and was originally asking $2,550,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 95.92% higher than the median priced home. Local competing homes currently for sale include 326 S Wilton Pl, 1415 S St Andrews Pl and 1139 S Kingsley Dr. While the average home in Los Angeles, CA is selling in 96 days, 826 S Gramercy Pl has a days on market of 251 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 826 S Gramercy Pl Los Angeles, CA 90005 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 826 S Gramercy Pl

Public county record property details
Beds
10
Baths
10
Year built
1960
Sq. Ft.
6,293
Lot Size
7,499
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
17
APN
5092-025-015

The source for these homes facts are from public records.

90005 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$835,000
Median List Price/Sq.Ft.
$629
Median Sold Price
$720,000
Median Sold Price/Sq.Ft.
$621
Total Inventory
29
Median Sale to List Price %
100.14%
Avg Days on Market
62
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (16.67%), 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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