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$2,550,000
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Property Description
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
Full Property Details
Full Property Details for 1630 S Gramercy Pl
General
- Sold For: $2,550,000
- Status: Closed
- Type: Multi-Family
- Source: CLAW
- MLS ID: 24-406423
- Added to Site: 297 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 14
Bedrooms
- Total Bedrooms: 21
Other Rooms
- Laundry: In Unit
Additional Information
- Pool Description: None
- Spa Description: None
- Security/Safety: Gated
- Other Features: None
Parking
- Garage Description: Assigned
Location
- Area: Mid Los Angeles
- County: Los Angeles
- Driving Directions: North of Washington, South of Venice, West of Western & East of Arlington
Heating & Cooling
- Cooling Type: Air Conditioning, Ceiling Fan
- Heating Type: Wall, Electric
Structural Information
- # Buildings: 1
- Common Walls: Attached
- Entry Location: Main Level
- Stories/Levels: 2
- Square Feet: 6,181
- Sq. Ft. Source: Vendor Enhanced
- Year Built: 1986
- Year Built Source: Vendor Enhanced
- Property Condition: Updated/Remodeled
Unit Information
- Units in Complex: 7
- Unit Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112
Unit 1
- Total Bathrooms: 2
- Bedrooms: 3
Unit 2
- Total Bathrooms: 2
- Bedrooms: 3
Unit 3
- Total Bathrooms: 2
- Bedrooms: 3
Unit 4
- Total Bathrooms: 2
- Bedrooms: 3
Unit 5
- Total Bathrooms: 2
- Bedrooms: 3
Unit 6
- Total Bathrooms: 2
- Bedrooms: 3
Unit 7
- Total Bathrooms: 2
- Bedrooms: 3
Additional Structures
- Other Structures: None
Lot Features
- Lot Size (Acres): 0.2459
- Lot Size: 10713
- Lot Size Source: Vendor Enhanced
- Zoning: LAR3
Financial Considerations
- Price Per Sq. Ft.: $407.7
- Assessment Year: 1986
- Owner Pays: Water, Gardener
- Tenant Pays: Gas, Electricity
Disclosures and Reports
- Disclosures/Reports: As Is
- APN: 5073-015-006
Listed by Avenue Realty Group, Jonathan Rawson
Sold by Realty Plus Investment, Inc., Chul Koo You
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Schools
Schools serving 1630 S Gramercy Pl
School District:Los Angeles Unified School District
Rating | Name | Grades | Distance |
---|---|---|---|
2055 W 24th St, Los Angeles, CA 90018 | K-4 | 0.5 mi | |
3200 W Washington Blvd, Los Angeles, CA 90018 | K-5 | 0.5 mi | |
1512 Arlington Ave, Los Angeles, CA 90019 | 6-8 | 0.3 mi | |
1500 W Washington Blvd, Los Angeles, CA 90007 | 9-12 | 1.3 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1630 S Gramercy Pl
Date
Details
Price
Change
Source
10/18/2024
Sold
$2,550,000
1.19%
MLS
6/20/2024
Listed
$2,520,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1630 S Gramercy Pl, Los Angeles, CA 90019 (MLS# 24-406423) is a Multi-Family property that was sold at $2,550,000 on October 18, 2024. Want to learn more about 1630 S Gramercy Pl? Do you have questions about finding other Multi-Family real estate for sale in Los Angeles? You can browse all Los Angeles real estate or contact a Coldwell Banker agent to request more information.