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$ 1,350,000
Est. payment /mo
New
736 Gramercy DR Los Angeles, CA 90005
9 Beds
8 Baths
6,076 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 6,076 sqft
Price per Sqft $222
MLS Listing ID 26996819
Bedrooms 9
HOA Y/N No
Year Built 1955
Lot Size 6,250 Sqft
Property Description
7 units in Prime Koreatown west of Western Ave in a Walker's Paradise (92 Walk Score). A true value-add opportunity with 30% upside (8%+ cap at market), the asset is incredibly well positioned for an investor to steward to new heights with upgrades, unit turnover and potential ADUs. Priced at $192k per unit and a 5.6% cap rate, the offering represents an attractive basis well below replacement cost and competitive cashflow right out of the gate. Most of the upside is concentrated across three longer-tenured units, making the upside capture more manageable. This stretch of Gramercy Dr. is quiet with low density residential and single family homes mixed with mid-sized apartment buildings. Within just a few blocks, residents can enjoy an incredible array of dining, retail and entertainment options including The Wiltern Theatre, Western Plaza and Koreatown Plaza.
Location
State CA
County Los Angeles
Area C18 - Hancock Park-Wilshire
Zoning LAR4
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Carport, Driveway
Community Features Gated
Total Parking Spaces 9
Building
Faces West
Story 2
Entry Level Multi/Split
Architectural Style Mid-Century Modern
Level or Stories Multi/Split
New Construction No
Others
Senior Community No
Tax ID 5092028016
Security Features Gated Community
Financing Cash
Special Listing Condition Standard
Listed by Adam Peterson CB Richard Ellis, Inc. #01815802
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