9
Bedrooms
$1,350,000
FOR SALE736 Gramercy Drive
Los Angeles, CA
MLS# 26996819
6,076 Sq Ft9bd • 8ba
32 days on marketNalren refreshed
Listing Agent
Adam Peterson
Listing Agent
CB Richard Ellis, Inc.
DRE #: 01815802
(310) 550-2592Brokerage: CB Richard Ellis, Inc.
Property Details
8
Bathrooms
6,076 sqft
Square Feet
1955
Year Built
6,251 sqft
Lot Size
$222
Price/Sq Ft
N/A
Garage Spaces
N/A
HOA
N/A
Property Type
Description
7 units in Prime Koreatown west of Western Ave in a Walker's Paradise (92 Walk Score). A true value-add opportunity with 30% upside (8%+ cap at market), the asset is incredibly well positioned for an investor to steward to new heights with upgrades, unit turnover and potential ADUs. Priced at $192k per unit and a 5.6% cap rate, the offering represents an attractive basis well below replacement cost and competitive cashflow right out of the gate. Most of the upside is concentrated across three longer-tenured units, making the upside capture more manageable. This stretch of Gramercy Dr. is quiet with low density residential and single family homes mixed with mid-sized apartment buildings. Within just a few blocks, residents can enjoy an incredible array of dining, retail and entertainment options including The Wiltern Theatre, Western Plaza and Koreatown Plaza.
Facts & Features
Building
- Year Built
- 1955
- Living Area
- 6,076 sqft
- Architectural Style
- Mid Century Modern
- Building Area Total
- 6,076
- Levels
- Multi Split
- Stories Total
- 2
Utilities
- Heating
- Wall Furnace
- Cooling
- None
Parking
- Parking Features
- Carport, Driveway
- Parking Total
- 9
Community / HOA
- HOA
- No
Natural Hazard Information
Earthquake data is shown from a real public source (USGS)
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Sale history for 736 GRAMERCY Drive
- Sold $1,330,000 in May 2015 · MLS #14765263 · Source: CRMLS
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Closed sales reported in 90005, nearest first, last 12 months. All recent sales in Los Angeles →
CRMLS
MLS# 26996819
Listed:
Nalren refreshed:
Last updated
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Listed by: CB Richard Ellis, Inc.
Equal Housing Opportunity
Advertising Broker: Nalren Corp (CA DRE #02423715)
Licensed in the state of California
Nalren Corp (CA DRE #02423715) is the Advertising Broker for this IDX display. We are not the listing broker for this property. The listing broker/agent information is shown above. Contact the listing agent for inquiries.