736 S Gramercy Dr - Apartments FOR SALE


Los Angeles, CA 90005- Koreatown
$1,699,990 USD
281-825-1305
736 S Gramercy Dr, Los Angeles, CA for Sale
$1,699,990 USD
Apartments - FOR SALE
1/16
null | 5.32% Cap Rate

736 S Gramercy Dr
Los Angeles, CA 90005
Koreatown


HIGHLIGHTS

  • 7-unit multifamily property in prime Koreatown location
  • Unit mix of 4 one-bedroom and 3 two-bedroom units
  • Recently updated property with strong curb appeal
  • Significant rental upside through rent repositioning
  • Proforma 8.84 GRM and 8.49% cap rate
  • Walk Score of 91 with convenient access to dining, retail, and transit

OVERVIEW

Berkshire Hathaway Commercial is proud to present 736 S Gramercy Drive, a well-positioned 7-unit multifamily investment opportunity located in the heart of Los Angeles' highly sought-after Koreatown neighborhood. Situated just west of Western Avenue, this recently updated property offers investors the rare opportunity to acquire a stabilized asset with substantial rental upside in one of the city's most dynamic rental markets. . The property features a desirable unit mix of four one-bedroom units and three two-bedroom units, catering to the strong demand for workforce and urban housing throughout the Koreatown submarket. Current rents remain significantly below market levels, presenting a compelling value-add opportunity through strategic rent repositioning and continued asset management. . Based on projected market rents, the property offers an attractive pro forma 8.84 GRM and 8.49% cap rate, providing investors with the potential to significantly enhance cash flow while benefiting from long-term appreciation in a supply-constrained infill location. . Residents enjoy immediate access to Koreatown's renowned dining, entertainment, and retail amenities. With an impressive Walk Score of 91, the property is within walking distance of popular restaurants, cafés, grocery stores, and public transportation, making it an ideal location for tenants seeking an urban live-work-play lifestyle. . 736 S Gramercy Drive represents an exceptional opportunity to acquire a well-maintained multifamily asset with strong income growth potential in one of Los Angeles' most active and resilient rental markets.

FOR SALE DETAILS

PRICE

$1,699,990 USD

PRICE/SF

$280 USD /SF

# OF UNITS

7

PRICE/UNIT

$242,856

CAP RATE

5.32%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1955

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

LAR4

APN/PARCEL ID

5092-028-016

ASK ABOUT THIS PROPERTY

Tom ParkKW CommercialMore Info
281-825-1305

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Tom ParkKW CommercialMore Info
281-825-1305

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.