940 S Gramercy Place, Los Angeles, CA 90019 - Berkshire Hathaway HomeServices California Properties
940 S Gramercy Place Los Angeles, CA 90019
$2,495,000 10 beds, 8 baths
6, 412 sqft

Agent Remarks

SEE ATTACHED DOC FOR INVESTMENT DEPRECIATION AND TAX BENEFIT FOR THE NEXT BUYER. ** BRING YOUR 1031 EXCHANGE HERE. ** A DIAMOND IN THE ROUGH~~~ THIS CAN BE A CASH COW FOR THOSE WHO CAN IMAGINE. Possibly more units can be delivered VACANT AT CLOSE OF ESCROW. HUGE BEDROOMS, LARGER LIVING ROOMS. First time in the Market in 34 years!! EACH UNIT HAS IT'S OWN CENTRAL A/C. This subject property is a two-story 8-unit apartment building constructed in 1965 with classical and Modern touch architecture situated on a Hard Corner Lot. The rents are significantly below market. The property could also generate additional income potential using the ADU process to add dwellings (buyer to verify). The landlord pays for trash service, but there are separate gas and electric meters for each unit, which the tenants pay for. The property is located within few minutes to Larchmont Village, Restaurants, and Markets, which is a quiet residential neighborhood. Also, provides convenient access to the 10 freeway, Mid-Wilshire, Koreatown, Downtown LA, USC, and has a walk score of 82 (Very Walkable). This offering provides huge upside in future income with stability of current income as it is 100% leased with all tenants paying their full rent on time. One 2 bedroom 1 bathroom unit can be delivered vacant at COE. VERY WELL-MAINTAINED BUILDING, RETROFITTING IS DONE. WELL GATED, QUIET STREET. COIN-OPERATED LAUNDRY FACILITY. BUYER TO VERIFY ALL FACTS.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# 24448139
List price is $2,495,000
Beds: 10
Baths: 8
Built in 1965
6,412 sqft
1 story
0.16 acres
Lot size: 0.1579
County: Los Angeles
Zoning: LAR3
Appliances: Refrigerator
Parking description: Assigned
MLS area: C18 - Hancock Park-Wilshire

Last Updated: 7/14/2025

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This listing belongs to the C18 - Hancock Park-Wilshire MLS area

Lat/Long: 34.054291, -118.312896.
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Listing Agent: Max Lee
Lic#: 01234982
Office Name: Mission Viejo

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