1819 Gramercy Pl, Los Angeles, CA 90019

18 Unit Apartment Building | $4,299,000 ($238,833/Unit) | 4.87% Cap Rate | Los Angeles, CA 90019

Asking Price $4,299,000

Property Type: Multifamily
Square Feet: 15,851 SF

Listing Contacts

Property Info

Property Overview

1970's construction means LARGE units...in Arlington Heights. Mid City buildings, like this, are highly walkable to dining, retail and dining along Venice Blvd. and Western Ave. Seismically-retrofitted carport parking, as well as open spots in rear. Attractive curb appeal and 20+ years newer than the 'typical' LA building, built in the 50s or 60s. Massive, unrealize upside. Scheduled allowable rent increase of 4% in early 2024.
Part of a 4-Building, 75-unit Portfolio Sale. Available together or separately. The other 3 addresses are as follows:
17 units at 1876 Buckingham Rd.
20 units at 1554 S. Gramercy Pl.
20 units at 2340-42 Crenshaw Bl.

Property Details

Class: C
Year Built: 1972
Stories: 3
Lot Size (sq. ft): 17,860 SF
Units: 18

Highlights

LARGE, courtyard-style building fronted by extensive landscaping
8% cap UPSIDE
Strong, Mid City location
Seismic done
Secured-access entry and secured-parking

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