REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Drake Cruz

drake@drake4homes.com +1(562) 884-9016

$ 1,350,000

Est. payment | -/mo

9 Beds

8 Baths

6,076 SqFt

Save

$ 1,350,000

Est. payment | -/mo

Save

9 Beds

8 Baths

6,076 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,076 sqft

Price per Sqft $222

MLS Listing ID 26996819

Bedrooms 9

HOA Y/N No

Year Built 1955

Lot Size 6,250 Sqft

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.

Location

State CA

County Los Angeles

Area C18 - Hancock Park-Wilshire

Zoning LAR4

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Exterior

Parking Features Carport, Driveway

Community Features Gated

Total Parking Spaces 9

Building

Faces West

Story 2

Entry Level Multi/Split

Architectural Style Mid-Century Modern

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 5092028016

Security Features Gated Community

Financing Cash

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Adam Peterson CB Richard Ellis, Inc. #01815802

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(562) 884-9016

drake@drake4homes.com

6621 E Pacific Coast Hwy #150, Long Beach, CA 90803, USA

736 Gramercy DR Los Angeles, CA 90005

Drake Cruz

Key Details

Location

Interior

Exterior

Building

Others

GET MORE INFORMATION

Go tour this home

736 Gramercy DR