Share this with your friends
+12138349560
Search Cali Homes Team
736 Gramercy Dr, Los Angeles, CA 90005
- $1,350,000
- 9
- BD
- 8
- BA
- 6,076
- SqFt
Courtesy of CB Richard Ellis, Inc., Adam Peterson - CA DRE#01815802
- List Price
- $1,350,000
- Status
- ACTIVE
- Days on Market
- 4
- MLS#
- 26996819
- Style
- Mid-Century
- Year Built
- 1955
- Bedrooms
- 9
- Bathrooms
- 8
- Living Area
- 6,076
- Lot Size
- 6,251
- Acres
- 0.14
- MLS Area Major
- Hancock Park-Wilshire (C18)
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.
/u.realgeeks.media/searchcalihomes/SCH_Compass_Lockup_white.png)
Additional Information
- Property Description
- Mid-Century
- Air Conditioning
- None
- Stories
- 2
Mortgage Calculator
The information being provided by CARETS (CLAW, CRISNet MLS, DAMLS, CRMLS, i-Tech MLS, and/or VCRDS)is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identifyprospective properties visitor may be interested in purchasing.Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX)program of CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than thebroker and/or agent who owns this web site.The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, isdeemed reliable but not guaranteed and should be personally verified through personal inspection by and/or withthe appropriate professionals. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS,DAMLS, CRMLS, i-Tech MLS and/or VCRDS and is protected by all applicable copyright laws. Any disseminationof this information is in violation of copyright laws and is strictly prohibited.CARETS, California Real Estate Technology Services, is a consolidated MLS property listing data feed comprisedof CLAW (Combined LA/Westside MLS), CRISNet MLS (Southland Regional AOR), DAMLS (Desert Area MLS),CRMLS (California Regional MLS), i-Tech MLS (Glendale AOR/Pasadena Foothills AOR) and VCRDS (VenturaCounty Regional Data Share).