1554 South Gramercy Place

Los Angeles, CA 90019

$4,299,000
Price
3
Beds
20
Baths
13,792 Sq. Ft.
$312 / Sq. Ft.
13,792
Sq. Ft.
$312
per Sq. Ft.

Description

Just reduced $300,000. A tried-and-true Arlington Heights building on a large corner lot. Mid City buildings, like this, are highly walkable to dining, retail and dining along Venice Blvd. and Western Ave. Secured-access entry to open courtyard-style configuration - and lots of parking in the seismically-retrofitted carports, in addition to a detached parking structure also. Strong, corner lot location, as well. 4% rent increase opportunity in early 2024, too. Part of a 4-Building, 75 unit Portfolio...Just reduced $300,000. A tried-and-true Arlington Heights building on a large corner lot. Mid City buildings, like this, are highly walkable to dining, retail and dining along Venice Blvd. and Western Ave. Secured-access entry to open courtyard-style configuration - and lots of parking in the seismically-retrofitted carports, in addition to a detached parking structure also. Strong, corner lot location, as well. 4% rent increase opportunity in early 2024, too. 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. 18 units at 1819 Gramercy Pl. 20 units at 2340-42 Crenshaw Bl.
  1. Listed by Brice Head • DRE #01330706 • Brokerage DRE #00868409 • CBRE, Inc.

Property Details for 1554 South Gramercy Place

Zoning
LAR4
Parcel Number
5073007008
Total Units
20.0
Living Area
13792
Source Living Area
Assessor
Area
Mid Los Angeles (C16)
Vacancy Rate
none
Lot Size Area
12691

Location

Listing Courtesy of CBRE, Inc., Brice Head, DRE #01330706
Add your commute
LISTING UPDATED: 04/09/2024 05:39 PM

Property Details for 1554 South Gramercy Place

StatusActive
MLS #23-324341
Days on Market190
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1963
Lot Size0.29 AC / 12,691 SF
CountyLos Angeles County

Location

Listing Courtesy of CBRE, Inc., Brice Head, DRE #01330706
Add your commute

Building Information for 1554 South Gramercy Place

Stories3Residences-Year Built1963Building Size-Lot Size0.29 AC / 12,691 SF

Payment Calculator

$27,842 per month

30 year fixed, 7.25% Interest

Principal and Interest

$23,461

Property Taxes

$4,381

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1554 South Gramercy Place

Community / Development
Community / Development
  • Number Of Units: 20
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 3
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $370,105
  • Net Operating Income: $226,136.00
  • Gross Income: $371,964
  • Cap Rate: 5.26%
  • Gross Rent Multiplier: $12.66
  • Total Annual Expense: 143969
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2913
  • Lot Size Square Feet: 12691
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 0
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Three Or More
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 10-23-2023
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,128.80
  • Unit Actual Rent: $3,386.40
  • Unit Projected Rent: $4,950.00
  • Like Units: 3
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,495.50
  • Unit Actual Rent: $16,451.00
  • Unit Projected Rent: $22,000.00
  • Like Units: 11
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,859.90
  • Unit Actual Rent: $11,159.00
  • Unit Projected Rent: $16,200.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107, 2108

Property History for 1554 South Gramercy Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1554 South Gramercy Place

Taxable ValueLand$2,890,740Additions$1,315,533Total$4,206,273
Tax Record2023$52,578 ($4,381 / month)
Home Facts
Total Finished SqFt13,792 SqFtAbove Grade Finished SqFt13,792 SqFtLot Size12,688 SqFtStyleMulti-Family Res (5+ Units)ZoningLAR4CountyLOS ANGELESAPN5073-007-008

Schools near 1554 South Gramercy Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Pio Pico Middle School
Public6 to 8

Los Angeles Senior High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1554 South Gramercy Place is a multi-family home for sale in Los Angeles, CA 90019. This property was listed for sale on October 23, 2023 by CBRE, Inc., it's currently listed at $4,299,000. It has been on the market for a total of 190 days and was last sold on May 5, 2023. This listing's school district is Los Angeles Unified School District. Nearby schools include Carson-Gore Academy Of Enviornmental Studies, Pio Pico Middle School and Los Angeles Senior High School. 1554 South Gramercy Place is a 3-bed, 20-bath, 13,792 sqft multi-family home built in 1963.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CBRE, Inc., Brice Head, DRE #01330706

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.