1630 S Gramercy Place
Los Angeles, CA 90019
- – beds
- – baths
- – sqft
- 10,713 sqft lot
- 1986 build
- – on site
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7 units with an assumable loan that is fixed at a 3.150% interest rate until 2027, and part of a 3-building portfolio sale. 1630 S Gramercy Place is a 1980's construction asset that is NOT subject to LA City Rent Control. This 7-unit apartment building is in the middle of centrally located Arlington Heights and boasts a top-heavy unit mix with all 3 Bed/2 Bath units and has 14 on-site & reserved parking spaces for tenants (7 tandem). The property is being offered at an attractive 10.90 GRM and 6.00% cap rate on current rents and operating expenses. Each unit was remodeled and is getting top of the market rent that'll couple perfectly with a low 3.150% interest rate to generate a rare 8% cash on cash return on Day 1. All units have in-unit washer & dryers, and in-unit water heaters to help escape common area gas bills. Tenants are on RUBS for utility reimbursements for water, sewer & trash, and the building is separately metered for gas & electricity which keeps this building operating with low utility bills. Future land value will remain high at this property as time passes for it being located on a 10,710 SF lot that's zoned LAR3. With the remodeled units, this property will be an easy-to-manage asset to keep for generations with high cash flow, low maintenance & repairs, and minimal upkeep. Can be bought together or separate with 411 Witmer Street and 4046 Nicolet Ave.
Last checked:
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Last updated Oct 19, 2024
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MLS# 24406423 —
The Building
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Year Built:1986
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New Construction:No
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Building Area Total:6181.00
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# of Buildings:1
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Total Number Of Units:7
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Stories Total:2
Interior
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Features:Ceiling Fan(s)
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Levels:Two
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Entry Location:Main Level
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Fireplace:No
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Fireplace:None
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Laundry:Washer Included, Dryer Included
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Laundry:1
Location
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Directions:North of Washington, South of Venice, West of Western & East of Arlington
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Latitude:34.04263300
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Longitude:-118.31259100
The Property
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Property Type:Residential Income
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Property Condition:Updated/Remodeled
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Zoning:LAR3
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Lot Size Area:10713.0000
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Lot Size Acres:0.2459
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Lot Size SqFt:10713.00
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Security Features:Gated Community
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Additional Parcels:No
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5073015006
Heating & Cooling
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Heating:1
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Heating:Wall Furnace, Electric
Appliances
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Appliances:Dishwasher, Disposal, Microwave, Refrigerator
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Included:Yes
The Community
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Senior Community:No
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Pool:None
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Private Pool:No
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Spa Features:None
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Association:No
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Assessments:No
Parking
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Parking:Yes
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Parking:Assigned
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Parking Spaces:14.00
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Uncovered Spaces:14.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
10/18/24
Oct 18, 2024
|
Sold | CRMLS_CA | $2,550,000 | 1.2% |
|
8/21/24
Aug 21, 2024
|
Pending | CRMLS_CA | $2,520,000 | |
|
7/24/24
Jul 24, 2024
|
Sold Subject To Contingencies | CRMLS_CA | $2,520,000 |
