950 S Gramercy Pl - Apartments FOR SALE


Los Angeles, CA 90019- Koreatown
$5,050,000 USD
707-225-2402
950 S Gramercy Pl, Los Angeles, CA for Sale
$5,050,000 USD
Apartments - FOR SALE
1/8
null | 6.19% Cap Rate

950 S Gramercy Pl
Los Angeles, CA 90019
Koreatown


HIGHLIGHTS

  • Walker's Paradise 92 WalkScore
  • Estimated 30%+ Upside
  • Well-Maintained
  • Low PPU and PPFT
  • 10 GRM at List Price

OVERVIEW

The Weir Group is pleased to present our newest exclusive listing in Koreatown-Los Angeles. The property is comprised of 31 total units built in 1963, 19 of which are spacious studios and 12 of which are 1 bedroom – 1 bathroom floorplans. The property is being offered for sale at an attractive/low price-per-unit and price-per-foot and is estimated to have over 30% rental upside. Seismic Retrofit for the tuck-under parking has been completed and there are a total of 32 parking spots, which include both subterranean parking and tuck-under. The property will be delivered to a new owner with 6 vacant units which provides immediate repositioning potential. Each unit is equipped with AC, assigned parking, and other amenities. A new owner can benefit from reducing payroll cost, increasing rents, filling up the vacancy, and operating more efficiently.

FOR SALE DETAILS

PRICE

$5,050,000 USD

PRICE/SF

$252 USD /SF

# OF UNITS

31

PRICE/UNIT

$162,903

CAP RATE

6.19%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gramercy Place Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

35

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,752 SF

ZONING

R4-2, Los Angeles

APN/PARCEL ID

5081-032-019

ASK ABOUT THIS PROPERTY

Jonathan WeirWeir Group with Marcus and Millichap.More Info
707-225-2402

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Jonathan WeirWeir Group with Marcus and Millichap.More Info
707-225-2402

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.