826 South Gramercy Place

Los Angeles, CA 90005

$2,400,000
Price
11
Beds
11
Baths
6,293 Sq. Ft.
$381 / Sq. Ft.
6,293
Sq. Ft.
$381
per Sq. Ft.

Description

This 8 unit two story apartment complex is located in the heart of the mid-Wilshire area near Koreatown, Hancock Park, and downtown Los Angeles. It is situated on a quiet street and is conveniently located near markets and restaurants. The apartment complex, which consists of one 3+2, two 2+2, four 1+1, and one studio units, has on site parking and is always in high demand with very little vacancy. The current rents are low so there is potential for a significant increase in rental income. In addition,...This 8 unit two story apartment complex is located in the heart of the mid-Wilshire area near Koreatown, Hancock Park, and downtown Los Angeles. It is situated on a quiet street and is conveniently located near markets and restaurants. The apartment complex, which consists of one 3+2, two 2+2, four 1+1, and one studio units, has on site parking and is always in high demand with very little vacancy. The current rents are low so there is potential for a significant increase in rental income. In addition, the on-site laundry facility also currently provides additional income for the owner which is about $200/month or $2,400/year and is not included in the gross schedule rent figure. The apartment, which recently has a new roof, is a low maintenance building, is easy to maintain, and is to be sold as-is present condition.
  1. Listed by THOMAS LO • DRE #01842952 • Brokerage DRE #01842952 • Thomas Iping Lo, Broker • 626-315-8405

Property Details for 826 South Gramercy Place

Parking Spaces Total
0
Private Pool
No
Cooling Type
Wall/Window
Total Units
8.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
6293
Assessor Parcel Number
5092-025-015

Location

Listing Courtesy of Thomas Iping Lo, Broker, THOMAS LO, DRE #01842952
Add your commute
LISTING UPDATED: 03/01/2024 08:41 AM

Property Details for 826 South Gramercy Place

StatusActive
MLS #WS23141948
Days on Market262
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
CountyLos Angeles County

Location

Listing Courtesy of Thomas Iping Lo, Broker, THOMAS LO, DRE #01842952
Add your commute

Building Information for 826 South Gramercy Place

Building/Complex826 S Gramercy PlFloor-Stories2Residences-Pet Policy-Year Built1960Building Size-

Payment Calculator

$15,696 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,098

Property Taxes

$2,598

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 826 South Gramercy Place

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas, Water
Income / Expense / Tax Details
Income Details
  • Gross Income: $2,400
  • Gross Scheduled Income: $153,802
  • Gross Operating Income: $153,802
  • Net Operating Income: $104,419
  • Laundry Income: $2,400
  • Gross Multiplier: 15.6
Expense Details
  • Operating Expense: $49,383
  • New Taxes Expense: $29,751
  • Gardener Expense: $1,320
  • Fuel Expense: $1,212
  • Electric Expense: $720
  • Insurance Expense: $5,220
  • Maintenance Expense: $2,400
  • Professional Management Expense: $0
  • Trash Expense: $4,020
  • Water Sewer Expense: $6,900
  • Total Expenses: $49,383
Tax / Assessment Info
  • Tax Annual Amount: $29,751
  • Tax Block: 7
  • Tax Tract Number: 000...
  • Tax Census Tract: 2126.20
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 17
Community / Development
Community / Development
  • Assessments YN: No
  • Assessments: None
  • Community Features: Suburban
Property / Structure Info
Interior Features
  • Appliances: Dishwasher, Disposal, Gas Range, Refrigerator
  • Equipment: Dishwasher, Laundry Area, Refrigerator
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Own
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
  • Flooring: Carpet, Wood
Exterior Features
  • Roof: Asphalt, Flat
  • Entry Location: Front
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Electricity - On Property
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned
  • Uncovered Spaces: 0
  • Open Other Spaces Total: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Assigned
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 3
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,000
  • Unit Type Total Rent: $3,000
  • Unit Type Pro Forma: 2950
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,085
  • Unit Type Total Rent: $2,085
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,429
  • Unit Type Total Rent: $1,429
  • Unit Type Pro Forma: 2300
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,669
  • Unit Type Total Rent: $1,669
  • Unit Type Pro Forma: 1900
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,565
  • Unit Type Total Rent: $1,565
  • Unit Type Pro Forma: 1900
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,405
  • Unit Type Total Rent: $1,405
  • Unit Type Pro Forma: 1900
  • Unit Type Type: 6
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $991
  • Unit Type Total Rent: $991
  • Unit Type Pro Forma: 1900
  • Unit Type Type: 7
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $674
  • Unit Type Total Rent: $674
  • Unit Type Pro Forma: 1100
  • Unit Type Type: 8
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 0
  • Number With Dishwasher: 8
  • Number With Range: 8
  • Number With Refrigerator: 8
  • Number With Disposal: 8
  • Number Wall AC: 8

Property History for 826 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 826 South Gramercy Place

Taxable ValueLand$1,497,929Additions$998,618Total$2,496,547
Tax Record2023$31,174 ($2,598 / month)
Home Facts
Total Finished SqFt6,293 SqFtAbove Grade Finished SqFt6,293 SqFtLot Size7,499 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningLAR3CountyLOS ANGELESAPN5092-025-015

Schools near 826 South Gramercy Place

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Public - 9 to 12
Charter - 6 to 8
Rating
School
Distance
Wilton Place Elementary School
PublicK to 5

Magnolia Science Academy 6 School
Charter6 to 8

Los Angeles Senior High School
Public9 to 12

Global Education Academy Middle School
Charter6 to 8

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.

Similar Homes

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826 South Gramercy Place is a multi-family home for sale in Los Angeles, CA 90005. This property was listed for sale on August 11, 2023 by Thomas Iping Lo, Broker, it's currently listed at $2,400,000. It has been on the market for a total of 262 days and was last sold on March 18, 2020. This listing's school district is Los Angeles Unified School District. Nearby schools include Wilton Place Elementary School, Magnolia Science Academy 6 School and Los Angeles Senior High School. 826 South Gramercy Place is a 11-bed, 11-bath, 6,293 sqft multi-family home built in 1960.

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 Thomas Iping Lo, Broker, THOMAS LO, DRE #01842952

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.