1634 South Gramercy Place, Los Angeles, CA 90019

$1,500,000
8
BD
4
BA
5,448
SqFt
List Price
$1,500,000
Price Change
▼ $399,000 1585010796
Status
Active
MLS#
20547080
Year Built
1921
Bedrooms
8
Bathrooms
4
Living Sq. Ft
5,448
Lot Size
11,603
Days on Market
68
Property Type
Multifamily

Property Description

5,448 SF 8 BED 4 BATH 4PLEX with massive 11,602 SF Lot RD1.5 TOC Tier 2 DELIVERED VACANT COMES WITH 5 - 6 UNITS WITH POSSIBLE RTI 9% PROFORMA CAP RATE. Well maintained charming Colonial style 4 plex in Mid City on a quiet tree lined extra wide street. Good mix of Large 2 bedroom and 1 bathroom units which comes completely vacant and also with a possible Ready To Issue plan to renovate the property into 5 or 6 unit apartment with almost triple amount of bedrooms that consists 3 4 bedrms, 1 5 bedroom and 1 3 bedrm above garage or 2 1 bedrms above garage by reorganizing the generous given space & the lot. This is the perfect opportunity for owner-user or investors looking for value add to spend the least amount of money to convert into amazing cash flow income property that would result whopping 9% Pro Forma CAP RATE. Separately metered w/ plenty of parking space due to massive sized lot! 11,602 sq ft lot also calls for all developers attention! Clean RD1.5 with potential to build 8 units

Additional Information

Heat
Other
Cooling
Other
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Parking
Other

Mortgage Calculator

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Calculator source: Real Geeks

Courtesy of Coldwell Banker Residential Brokerage, Vinnie Park - CA DRE#02015848

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