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Multifamily

509 S Gramercy Pl

509 S Gramercy Pl, Los Angeles, CA 90020

Listing Price: $3,900,000

Cap Rate
4.42%
Number of Units
6
Occupancy
3.0%
Price/Unit
$650,000
Price/Gross SF
$333.76
Gross SF
11,685

Investment Overview

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.

Investment Highlights

  • Stabilized Asset
  • Extremely Large Units
  • Modern, Tenant-Friendly Amenities

Exclusively Listed By

Financing By

Multifamily

509 S Gramercy Pl

Listing Price: $3,900,000

Cap Rate
4.42%
Number of Units
6
Occupancy
3.0%
Price/Unit
$650,000
Price/Gross SF
$333.76
Gross SF
11,685

Investment Highlights

  • Stabilized Asset
  • Extremely Large Units
  • Modern, Tenant-Friendly Amenities

Investment Overview

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.

Exclusively Listed By

Financing By

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