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509 S Gramercy Place

Los Angeles (City), CA 90020
  • $3,900,000
  • STATUS: Active
  • ON SITE: 22 Days
  • ID#: 22181147
UPDATED: 80 min ago
$3,900,000
  • 0
    BEDS
  • 0.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1928
County:

School Ratings & Info

Listing Agent(s): Saadia 'Sam' Liberow of Marcus & Millichap (818-212-2700)


Description

The property is located in a highly sought-after area near Larchmont Village and Hancock Park. The current owners have tastefully upgraded the property during their ownership, which provides a buyer the opportunity to purchase a stabilized asset with strong in-place income. Each 3-bedroom / 2-bathroom is very open and spacious, averaging over 1,800 square feet. The layout lends itself well to family tenants as well as those looking to share a space with roommates. Due to the size of the units, this property has the potential for buyers to live and occupy one of the units while collecting rents from the other tenants. The units have been extensively renovated and come equipped with new kitchens (including dishwashers, ranges, sinks, and cabinets), new bathrooms, new mini splits (in most units), and washers and dryers in each unit. Additionally, each unit has dual access, offering tenants unmatched comfort and flexibility to enter the unit wherever is most preferable to them. The property boasts six (6) garage parking spaces at the rear of the property. A buyer may choose to convert the garages into ADUs Buyer to verify. The upper units offer tenants incredible views of the surrounding neighborhood. What's more, all tenants have access to enjoy the rooftop deck which features a seating area and incredible city views.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-13T22:29:15.347. 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 Massa & Associates Real Estate Group | eXp California Realty Inc. Licensed in the State of California, USA.
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509 S Gramercy Place Los Angeles (City), CA 90020

  • Price: $3,900,000
  • Status: Active
  • On Site: 22 Days
  • Updated: 80 min ago
  • ID#: 22181147
0
Beds
0
Baths
0
½ Baths
0.19
Acres
1928
Built
Neighborhood:
C18 - Hancock Park-Wilshire
County:
Los Angeles
Area:
C18 - Hancock Park-Wilshire
Property Description
The property is located in a highly sought-after area near Larchmont Village and Hancock Park. The current owners have tastefully upgraded the property during their ownership, which provides a buyer the opportunity to purchase a stabilized asset with strong in-place income. Each 3-bedroom / 2-bathroom is very open and spacious, averaging over 1,800 square feet. The layout lends itself well to family tenants as well as those looking to share a space with roommates. Due to the size of the units, this property has the potential for buyers to live and occupy one of the units while collecting rents from the other tenants. The units have been extensively renovated and come equipped with new kitchens (including dishwashers, ranges, sinks, and cabinets), new bathrooms, new mini splits (in most units), and washers and dryers in each unit. Additionally, each unit has dual access, offering tenants unmatched comfort and flexibility to enter the unit wherever is most preferable to them. The property boasts six (6) garage parking spaces at the rear of the property. A buyer may choose to convert the garages into ADUs Buyer to verify. The upper units offer tenants incredible views of the surrounding neighborhood. What's more, all tenants have access to enjoy the rooftop deck which features a seating area and incredible city views.
Exterior Features

Parking Features None Parking Total 6

Interior Features

Cooling None Cooling YN No Heating None Heating YN No

Property Features

Association Fee 0 Gross Income 260002 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 172547 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning Lar4



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-08-13T22:29:15.347. 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 Massa & Associates Real Estate Group | eXp California Realty Inc. Licensed in the State of California, USA.
 
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Massa & Associates Real Estate Group | eXp California Realty Inc
848 Prospect St
La Jolla CA, 92037
Listing Agent(s): Saadia 'Sam' Liberow of Marcus & Millichap (818-212-2700)