NOT LISTED FOR SALE

1554 S Gramercy Place Los Angeles, CA 90019

Harvard Heights Neighborhood
23 Beds
17 Baths
13,792 Sq Ft
0.29 Acres

Last Sold June 16, 2020

Last sale price $4,000,000 $290 Per Sq Ft

66 Days on Market

About This Home

As of June 2020

Built in 1963, this 20-unit property totals 13,792 SF located in Mid-City's Harvard Heights neighborhood, on the corner of Venice Blvd & Gramercy Place. The building features a unit mix that includes 3 singles, 11 one-bedrooms, and 6 two-bedrooms.This offering presents an investor the opportunity to capture market rents through renovations when the units turn. The property is being offered at a 4.28% CAP rate on current income with substantial rental upside as the current loss to lease is 27%.The property features 20 parking spaces. The soft-story retrofifit work has been completed. The building is separately metered gas & electric. Furthermore, there is a community laundry room for the building with two washers & dryers. The lot is 12,687 SF and zoned R3-1-CPIO.

Last Agent to Sell the Property

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 03/31/2020

Last Buyer's Agent

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 03/31/2020

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1963

Lot Details

  • 0.29 Acre Lot

Parking

  • 20 Car Garage

Interior Spaces

  • 13,792 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 23 Bedrooms
  • 17 Bathrooms

Community Details

  • 20 Units

Listing and Financial Details

  • Assessor Parcel Number 5073-007-008

Property Details

Home Type

Multi-Family

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 13792
  • Price Per Unit: 210000.00
  • Stories: 3
  • Year Built: 1963
  • Number Of Photos: 14
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 23
  • Total Bathrooms: 17.00
  • Price Per S Q F T: 304.52

Exterior Features

  • Other Structures: Other

Garage/Parking

  • Parking Garage: Garage
  • Total Parking: 20

Lot Info

  • Assessor Parcel Number: 5073-007-008
  • Geocode Override: No
  • Lot Size Area: 12687

Rental Info

  • Total Actual Rent: 26127.00

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 13.21
  • Number Of Units: 20
  • Total Annual Expense: 128741
  • Type Of Units: Apartment
  • Vacancy Rate: 0%

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/16/2020 06/16/20 Sold $4,000,000 0.0% $290 / Sq Ft
06/15/2020 06/15/20 Off Market $4,000,000 -- --
06/05/2020 06/05/20 Pending -- -- --
03/31/2020 03/31/20 For Sale $4,200,000 -- $305 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • N

    Seller's Agent in 2020

    Neema Ahadian

    Marcus & Millichap

    (213) 943-1800

    4 in this area

    93 Total Sales

    Neema Ahadian
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Map

Source: The MLS

MLS Number: 20-570184

The MLS
California Los Angeles County Los Angeles 90019 Harvard Heights

1554 S Gramercy Place, Los Angeles, CA

This home is located at 1554 S Gramercy Place, Los Angeles, CA 90019 since 31 March 2020. This property was built in 1963. 1554 S Gramercy Place is a home located in Los Angeles County with nearby schools including Carson-Gore Academy Of Enviornmental Studies, Pio Pico Middle School, and Los Angeles Senior High School.

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