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826 S Gramercy Place

Los Angeles (City), CA 90005
  • $2,550,000
  • STATUS: Active
  • ON SITE: 46 Days
  • MLS #: WS23141948
UPDATED: 52 min ago
$2,550,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1960
County:

School Ratings & Info

Listing Agent(s): Thomas Lo of Thomas Iping Lo, Broker (626-315-8405)


Description

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 and the on-site laundry facility also currently provides additional income for the owner. 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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-29T19:37:33.58. 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 deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
www.theziagroup.com/homes/142395216
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826 S Gramercy Place Los Angeles (City), CA 90005

  • Price: $2,550,000
  • Status: Active
  • On Site: 46 Days
  • Updated: 52 min ago
  • MLS #: WS23141948
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1960
Built
Neighborhood:
C17 - Mid-Wilshire
County:
Los Angeles
Area:
C17 - Mid-Wilshire
Property Description
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 and the on-site laundry facility also currently provides additional income for the owner. 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.
Exterior Features

Carport Spaces 0 Entry Level 1 Entry Location Front Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 8 Open Parking Spaces 0 Parking Features Assigned Parking Total 0 Pool Features None Pool Private YN No Property Attached YN No Roof AsphaltFlat Spa Features None Spa YN No

Interior Features

Appliances DishwasherDisposalGas RangeRefrigerator Common Walls No Common Walls Cooling Wall/Window Unit(S) Cooling YN Yes Fireplace Features None Fireplace YN No Flooring CarpetWood Heating Wall Furnace Heating YN Yes

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Common Interest Community Apartment Community Features Suburban Disclosures Rent Control Electric Electricity - On Property Electric Expense 720 Fuel Expense 1212 Garage YN No Gross Income 1800 Gross Scheduled Income 145008 Insurance Expense 5220 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan Maintenance Expense 2400 Net Operating Income 95625 New Construction YN No New Taxes Expense 29751 Number Of Separate Gas Meters 8 Number Of Separate Water Meters 0 Operating Expense 49383 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions StandardTrust Tax Annual Amount 29751 Tenant Pays ElectricityGasWater Trash Expense 4020 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Water Sewer Expense 6900 Water Source Public Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-29T19:37:33.58. 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 deemed reliable but is not guaranteed accurate by the MLS or The Zia Group | eXp Realty. Licensed in the State of California, USA.
 
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The Zia Group | eXp Realty
10 E Yanonali St #11
Santa Barbara CA, 93101
Listing Agent(s): Thomas Lo of Thomas Iping Lo, Broker (626-315-8405)