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310 S Gramercy Place

Los Angeles (City), CA 90020
  • $2,500,000
  • STATUS: Active
  • ON SITE: 78 Days
  • ID#: 21766640
UPDATED: 74 min ago
$2,500,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
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 California Regional Multiple Listing Service, Inc. as of 2021-10-16T10:26:14.627. 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 Keller Williams Realty. Licensed in the State of California, USA.
www.therealestategirl.com/homes/119837744
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310 S Gramercy Place Los Angeles (City), CA 90020

  • Price: $2,500,000
  • Status: Active
  • Updated: 74 min ago
  • ID#: 21766640
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1956
Built
Neighborhood:
C18 - Hancock Park-Wilshire
County:
Los Angeles
Area:
C18 - 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 5 Carport YN Yes Parking Features CarportDetached Carport Parking Total 9

Interior Features

Appliances DishwasherGas CooktopDisposalMicrowave Heating Central Heating YN Yes

Property Features

Garage YN Yes Gross Income 169009 Laundry Features Common Area Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 106455 Rent Control YN Yes Security Features Security Gate Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGasTrash Collection Vacancy Allowance Rate 30 Zoning Lar4

Listing provided courtesy of John Wright of Matthews Real Estate Investment Services


Based on information from California Regional Multiple Listing Service, Inc. as of 2021-10-16T10:26:14.627. 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 Keller Williams Realty. Licensed in the State of California, USA.
 
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