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    310 S Gramercy Pl

    Los Angeles, CA 90020
    • $2,500,000
    • STATUS: Active
    • ON SITE: 86 Days
    • ID#: 21-766640
    UPDATED: 62 min ago
    $2,500,000
    • 11
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,300
      SQFT
    • $397
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1956
    County:

    School Ratings & Info

    Description

    Welcome to the heart of Koreatown. A distinctive, Los Angeles neighborhood nestled between the ever-growing Downtown market and the posh Beverly Hills suburb. 310 S Gramercy Pl is a mid-century style 9-unit apartment building which consists of seven (7) one-bedroom one-bathroom units and two (2) two-bedroom one-bathroom units. This three-story, gated apartment was built in 1956 and includes private parking for each tenant. The property features nine (9) covered parking spaces, an on-site laundry facility owned by the landlord, security cameras, and recently completed soft-story retrofit. This area is the premier location for long term rental growth assets. A long-term high-end market, the Koreatown area has become the epicenter for families and professionals in Los Angeles. Investors are flocking to Koreatown as average rents are pushing $3,000/month and as population growth is projected as steady increases for years to come, this is a seize the moment opportunity for any strong investor looking to secure property in one of LAs best submarkets. Its prime location and abundant local hot spots being but a brief walk away, all residents and working professionals obtain quick commute times in a city plagued with standstill traffic- making an abundance of renters readily available. As Koreatown and the surrounding areas on Wilshire Blvd continue their population and economic growth, demand will only increase to reside in one of the most growth-oriented Los Angeles submarkets. A seasoned investor will capitalize on the renters neighborhood that is Koreatown for decades to come. With 310 S Gramercy Place you will achieve a healthy rental income from day one.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-24T22:42:22.237. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.trulinerealty.com/homes/119835055
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    310 S Gramercy Pl Los Angeles, CA 90020

    • Price: $2,500,000
    • Status: Active
    • Updated: 62 min ago
    • ID#: 21-766640
    11
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    6,300
    SQFT
    $397
    $/SQFT
    1956
    Built
    Neighborhood:
    Hancock Park-Wilshire
    County:
    Los Angeles
    Area:
    Hancock Park-Wilshire
    Property Description
    Welcome to the heart of Koreatown. A distinctive, Los Angeles neighborhood nestled between the ever-growing Downtown market and the posh Beverly Hills suburb. 310 S Gramercy Pl is a mid-century style 9-unit apartment building which consists of seven (7) one-bedroom one-bathroom units and two (2) two-bedroom one-bathroom units. This three-story, gated apartment was built in 1956 and includes private parking for each tenant. The property features nine (9) covered parking spaces, an on-site laundry facility owned by the landlord, security cameras, and recently completed soft-story retrofit. This area is the premier location for long term rental growth assets. A long-term high-end market, the Koreatown area has become the epicenter for families and professionals in Los Angeles. Investors are flocking to Koreatown as average rents are pushing $3,000/month and as population growth is projected as steady increases for years to come, this is a seize the moment opportunity for any strong investor looking to secure property in one of LAs best submarkets. Its prime location and abundant local hot spots being but a brief walk away, all residents and working professionals obtain quick commute times in a city plagued with standstill traffic- making an abundance of renters readily available. As Koreatown and the surrounding areas on Wilshire Blvd continue their population and economic growth, demand will only increase to reside in one of the most growth-oriented Los Angeles submarkets. A seasoned investor will capitalize on the renters neighborhood that is Koreatown for decades to come. With 310 S Gramercy Place you will achieve a healthy rental income from day one.
    Exterior Features

    Carport Spaces Total 5 Lot Description Automatic Gate Lot Size Area 7511 Other Structures Stall(S) Parking Garage CarportCarport Detached Paved YN Yes Total Parking 9

    Interior Features

    Baths Total 9.00 Common Walls Attached Cooking Appliances Cooktop - GasMicrowave Cooling Wall Unit(S) Equipment Alarm SystemDishwasherGarbage Disposal Flooring Mixed Heating Central Laundry Community Laundry Equipment Own Water Heater Features Central Water Heater

    Property Features

    Assessed Total Value 1857202 Gross Income 169009 Gross Operating Income 169009 Like Units1 7 Like Units2 2 Net Operating Income 106455.00 Number Of Buildings 1 Number Of Units 9 Owner Pays Other Rent Control YN Yes Sale Type Standard Security Features Automatic Gate Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Tenant Pays GasElectricityTrash Collection Total Annual Expense 60761 Type Of Units Standard Water Heaters YN Yes Year Built Source Vendor Enhanced Zoning Lar4

    Listing provided courtesy of John Wright DRE# of Matthews Real Estate Investment Services.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-10-24T22:42:22.237. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    TruLine Realty
    2999 Overland Ave., Suite 116
    Los Angeles CA, 90064