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914 S Gramercy Dr, Los Angeles, CA 90019
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914 S Gramercy Dr Los Angeles, CA 90019

$4,200,000
  • 16 Beds
  • 16 Baths
  • 10,304 Sq.Ft.
For Sale
$4,200,000 Get Pre-Qualified
Map preview of 914 S Gramercy Dr, Los Angeles, CA 90019

Property Overview: 914 S Gramercy Dr Los Angeles, CA has 16 bedrooms, 16 bathrooms, 10,304 living square feet and 14,998 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 is a very well-maintained apartment located in the Hancock Park area. It is a gated complex and is located in a quiet and safe neighborhood. There are many luxury condos and expensive houses nearby with new luxury rental apartments being built nearby currently. This is a great opportunity for investors. The listing includes both 914-916 and 918-920 Gramercy Drive, each with 8 units (16 total). Most tenants are long term, responsible tenants who make timely rent payments. The property is renting below market but considering the current rental price in the Hancock Park area, this property has great potential.

Listed by Clara Cho | BRE #01314770 | Masters Realty & Investment
Last checked: 36 seconds ago | Last updated: April 30th, 2024 | Source CRMLS | DOM: 11
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Home details

Lot Sq. Ft
14,998
HOA Dues
$0/mo
Year built
1953
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24382951
City
Los Angeles
County
Los Angeles
Time on Site
11 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 16
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 16
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,300
  • Total Rent: $20,550
  • Pro Forma/Market Rent: $28,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.72%
  • Gross Rent Multiplier: 17
  • Gross Scheduled Income: --
  • Net Operating Income: $198,600
  • Gross Operating Income: $246,600
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 914 S Gramercy Dr

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Property Details for 914 S Gramercy Dr

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
  • Security Features: Gated Community
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 16
  • Has Parking
  • Parking Features: Carport
Lot Information
  • Lot Size Source: Appraiser
Property Information
  • Total # of Units: 16
  • Parcel Number: 5092023008
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: North of Olympic Blvd & West of Western Ave.
View more facts & features

Local Los Angeles Agent

Sale History for 914 S Gramercy Dr

Last sold for $3,710,000 on February 18th, 2021

  • April, 2024

  • Apr 22, 2024

    Date

    Active

    CRMLS: 24382951

    $4,200,000

    Price

  • February, 2021

  • Feb 23, 2021

    Date

    Sold

    CRMLS: 20638338

    $3,710,000

    Price

  • Dec 28, 2020

    Date

    Active Under Contract

    CRMLS: 20638338

    $4,000,000

    Price

  • Dec 14, 2020

    Date

    Price Change

    CRMLS: 20638338

    $4,000,000

    Price

  • Oct 2, 2020

    Date

    Active

    CRMLS: 20638338

    $4,090,000

    Price

  • Listing provided courtesy of CRMLS

    Located in quiet and peaceful Gramercy Drive in the center of Korea Town, one of the hottest real estate markets in California. This 16 unit multifamily apartment consists of 2 buildings. (914 S. Gramercy Dr. & 918 S. Gramercy Dr.) Each building has 8 units and all 16 unis are 1 bedroom & 1 bathroom. All tenants are paying rent on time during the Pandemic. Walking distence from public transpotation, grocery market, famous Korean restaurant and many more. Sold AS-IS in it's present condition.

  • February, 2021

  • Feb 18, 2021

    Date

    Sold (Public Records)

    Public Records

    $3,710,000

    Price

  • September, 2020

  • Sep 11, 2020

    Date

    Expired

    CRMLS: 19425866

    $4,199,000

    Price

  • Jun 18, 2020

    Date

    Withdrawn

    CRMLS: 19425866

    $4,199,000

    Price

  • Jan 9, 2020

    Date

    Price Change

    CRMLS: 19425866

    $4,199,000

    Price

  • Sep 11, 2019

    Date

    Active

    CRMLS: 19425866

    $4,490,000

    Price

  • Jul 6, 2019

    Date

    Canceled

    CRMLS: 19425866

    $4,490,000

    Price

  • Jan 21, 2019

    Date

    Active

    CRMLS: 19425866

    $4,490,000

    Price

  • Listing provided courtesy of CRMLS

    Location, Location, Location!!! Located in Quiet and Peaceful Gramercy Drive in the center of Korea Town. This is a 16- unit multifamily investment opportunity with 2 adjacent properties. (914 S. Gramercy Dr. & 918 S. Gramercy Dr.). Total lot size for 2 properties is 14998 Sf and total building size is 10304 SF. Each building has 8 units with 1 bedroom and 1 bathroom. All 16 units are occupied by tenants. Walking distance from public transportation, grocery market, famous Korean restaurant and many more. Great redevelopment opportunity with 2 adjacent properties. Sold As-Is in it's present condition.

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Tax History for 914 S Gramercy Dr

Assessed Value (2020): $409,190
Year Land Value Improved Value Assessed Value
2020 $248,198 $160,992 $409,190

Home Value Compared to the Market

This property vs the competition

914 S Gramercy Dr is listed 242.86% 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 $407.61 per/sqft which puts the price per square foot 47.34% lower than the median price per square foot for the city of Los Angeles.

About 914 S Gramercy Dr

Detailed summary of property

914 S Gramercy Dr is a multi family located in Los Angeles, CA 90019 and is currently for sale. This multi family property offers 16 bedrooms, 16 bathrooms, roughly 10,304 living square feet, and sits on an approximately 14,998 square foot lot. 914 S Gramercy Dr was first listed on ArdentRealEstateGroup.com on April 22, 2024. The homeowner is currently asking $4,200,000. 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 242.86% higher than the median priced home. Local competing homes currently for sale include 2176 S Venice Blvd, 1819 S Gramercy Pl and 514 S Mariposa Ave. While the average home in Los Angeles, CA is selling in 96 days, 914 S Gramercy Dr has a days on market of 11 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 914 S Gramercy Dr 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 914 S Gramercy Dr

Public county record property details
Beds
8
Baths
8
Year built
1953
Sq. Ft.
5,028
Lot Size
7,499
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
10
APN
5092-023-008

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
$1,675,000
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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