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Los Angeles, CA 90005 826 S Gramercy Place

$2,400,000

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Presented By: THOMAS LO with Thomas Iping Lo, Broker; 626-315-8405
  • MLS# WS23141948
  • 08/13/2023
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  • BedBeds • 11
  • BathBaths • 11
  • FootageSQFT • 6,293

Home Details

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.
Presented By: THOMAS LO with Thomas Iping Lo, Broker; 626-315-8405

Interior Features for 826 S Gramercy Place

Other Interior Features

Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsNoCommonWalls
Electric On Property Y/NNo
Fireplace FeaturesNone
Fireplace Y/NNo
FlooringCarpet, Wood
Heating Y/NYes
Laundry FeaturesCommonArea
Street SuffixPlace
Total Stories2

Other Rooms

Entry Level1

General for 826 S Gramercy Place

Additional Parcels Y/NNo
AppliancesDishwasher, Disposal, GasRange, Refrigerator
Attached Garage No
Building Area UnitsSquareFeet
Carport Spaces0.0
Carport Y/NNo
CityLos Angeles
Community FeaturesSuburban
CoolingWallWindowUnits
CountyLos Angeles
Days on Market201
DirectionsWest of Western Avenue, East of Wilton Avenue, South of 8th Street, North of 9th Street
DisclosuresRentControl
ElectricElectricityOnProperty
Electric Expense720.0
Entry LocationFront
Fuel Expense1212.0
Garage Spaces0.0
Garage Y/NNo
Gross Income2400.0
HOA0.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense5220.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan
Lot Size Square Feet7499.0
MLS AreaC17 - Mid-Wilshire
MaintenanceExpense2400.0
MobileHomeRemainsYNNo
Net Operating Income104419.0
New ConstructionNo
Open Parking Spaces0.0
Operating Expense49383.0
Pool FeaturesNone
PossessionCloseOfEscrow
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
RoofAsphalt, Flat
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard, Trust
Standard StatusActive
StatusActive
Stories2
Street NameGramercy
Tax Annual Amount29751.0
Tax Lot17
Taxes$29,751
Tenant PaysElectricity, Gas, Water
Total Units8
Trash Expense4020.0
UtilitiesElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
View Y/NNo
Water Sewer Expense6900.0
Waterfront Y/NNo
Year Built1960
Year Built SourcePublicRecords
ZoningLAR3

Exterior for 826 S Gramercy Place

Building Area Total6293.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem01UnitAcre
Lot Size Acres0.1722
Lot Size Area7499.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings1
Number of Separate Electric Meters8
Number of Separate Gas Meters8
Number of Separate Water Meters0
Open Parking Y/NNo
Parking FeaturesAssigned
SpaNo
Total Parking0.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $2,400,000
MLS#WS23141948
List Date 08/13/2023
Property Type Multi-Family
Phone 714.964.3311
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*According to the National Association of Realtors