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

$2,590,000
  • 10 Beds
  • 8 Baths
  • 6,412 Sq.Ft.
For Sale
$2,590,000 Get Pre-Qualified
Map preview of 940 S Gramercy Pl, Los Angeles, CA 90019

Property Overview: 940 S Gramercy Pl Los Angeles, CA has 10 bedrooms, 8 bathrooms, 6,412 living square feet and 6,877 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: Possibly more units can be delivered VACANT AT CLOSE OF ESCROW. HUGE BEDROOMS, LARGER LIVING ROOMS. First time in the Market in 34 years!! EACH UNIT HAS IT'S OWN CENTRAL A/C. This subject property is a two-story 8-unit apartment building constructed in 1965 with classical and Modern touch architecture situated on a Hard Corner Lot. The rents are significantly below market. The property could also generate additional income potential using the ADU process to add dwellings (buyer to verify). The landlord pays for trash service, but there are separate gas and electric meters for each unit, which the tenants pay for. The property is located within few minutes to Larchmont Village, Restaurants, and Markets, which is a quiet residential neighborhood. Also, provides convenient access to the 10 freeway, Mid-Wilshire, Koreatown, Downtown LA, USC, and has a walk score of 82 (Very Walkable). This offering provides huge upside in future income with stability of current income as it is 100% leased with all tenants paying their full rent on time. One 2 bedroom 1 bathroom unit can be delivered vacant at COE. VERY WELL-MAINTAINED BUILDING, RETROFITTING IS DONE. WELL GATED, QUIET STREET. COIN-OPERATED LAUNDRY FACILITY. BUYER TO VERIFY ALL FACTS.

Listed by Max Lee | BRE #01905008 | Real Broker
Last checked: 7 minutes ago | Last updated: May 1st, 2024 | Source CRMLS | DOM: 39
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Home details

Lot Sq. Ft
6,877
HOA Dues
$0/mo
Year built
1965
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24372765
City
Los Angeles
County
Los Angeles
Time on Site
39 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,405
  • Total Rent: $1,405
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,180
  • Total Rent: $1,180
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,455
  • Total Rent: $1,455
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,295
  • Total Rent: $1,295
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,110
  • Total Rent: $1,110
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,205
  • Total Rent: $1,205
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,295
  • Total Rent: $1,295
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Total Rent: $0
  • Pro Forma/Market Rent: $3,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 0
  • Gross Scheduled Income: --
  • Net Operating Income: $95,285
  • Gross Operating Income: $136,122
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 940 S Gramercy Pl

Interior Features
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 13
  • Has Parking
  • Parking Features: Assigned
Property Information
  • Total # of Units: 8
  • Parcel Number: 5081032001
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: East of Hancock Park, South of Wilshire Blvd., North of Olympic Blvd.,
View more facts & features

Local Los Angeles Agent

Sale History for 940 S Gramercy Pl

View property's historical transactions

  • March, 2024

  • Mar 25, 2024

    Date

    Active

    CRMLS: 24372765

    $2,590,000

    Price

  • March, 2024

  • Mar 20, 2024

    Date

    Expired

    CRMLS: 23315523

    $2,590,000

    Price

  • Sep 27, 2023

    Date

    Active

    CRMLS: 23315523

    $2,590,000

    Price

  • Listing provided courtesy of CRMLS

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Tax History for 940 S Gramercy Pl

Assessed Value (2020): $1,006,038
Year Land Value Improved Value Assessed Value
2020 $377,672 $628,366 $1,006,038

Home Value Compared to the Market

This property vs the competition

940 S Gramercy Pl is listed 111.43% 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 $403.93 per/sqft which puts the price per square foot 47.81% lower than the median price per square foot for the city of Los Angeles.

About 940 S Gramercy Pl

Detailed summary of property

940 S Gramercy Pl is a multi family located in Los Angeles, CA 90019 and is currently for sale. This multi family property offers 10 bedrooms, 8 bathrooms, roughly 6,412 living square feet, and sits on an approximately 6,877 square foot lot. 940 S Gramercy Pl was first listed on ArdentRealEstateGroup.com on March 25, 2024. The homeowner is currently asking $2,590,000. 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 111.43% higher than the median priced home. Local competing homes currently for sale include 1511 S Manhattan Pl, 1532 S Wilton Pl and 1139 S Kingsley Dr. While the average home in Los Angeles, CA is selling in 96 days, 940 S Gramercy Pl has a days on market of 39 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 940 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 940 S Gramercy Pl

Public county record property details
Beds
10
Baths
8
Year built
1965
Sq. Ft.
6,412
Lot Size
6,875
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
66
APN
5081-032-001

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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