$2,999,999

Estimated payment $19,346/month

Total Views 1,003
1 Bed
1 Bath
7,360 Sq Ft
$408 Price per Sq Ft

Highlights

  • No HOA
  • Central Heating
  • 3-minute walk to Wilton Place Park
  • Laundry Room

About This Home

941 S GRAMERCY PL is a beautiful 12 unit residential income property located in Koreatown neighborhood of Los Angeles.The property features 12 spacious and beautiful 1 Bedroom 1 Bathroom units with 12 assigned parking.Centrally located and close to all amenities of the town this property has always been in high demand rental market. Current monthly gross rental income of $17,600 and $211,200 annually, provide a huge opportunity for rent increase and more profit for the new owner. 2 of the units ( 1 Bedroom, 1 Bathroom) may be delivered vacant.More information and details are available upon request.

Listing Agent

Eduard Khachatryan

Luxury Homes International Brokerage Email: glendalebroker@gmail.com License #01769888 Listed on: 06/16/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 6,870 Sq Ft Lot
  • 1 Common Wall
  • Density is up to 1 Unit/Acre

Parking

  • 12 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached

Interior Spaces

  • 7,360 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Utilities

  • Central Heating

Listing and Financial Details

  • Tax Lot 65
  • Tax Tract Number 1600
  • Assessor Parcel Number 5081025007
  • $1,325 per year additional tax assessments
  • Seller Considering Concessions

Community Details

Overview

  • No Home Owners Association
  • 12 Units

Amenities

  • Laundry Facilities

Building Details

  • Rent Control
  • 13 Separate Electric Meters
  • 13 Separate Gas Meters
  • 13 Separate Water Meters
  • Electric Expense $1,000
  • Insurance Expense $8,000
  • Professional Management Expense $5,000
  • Trash Expense $5,000
  • Water Sewer Expense $1,120
  • Operating Expense $21,120
  • Gross Income $211,200
  • Net Operating Income $190,080

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

12

Listing Details

  • CapRate: 6.30
  • Price Per Unit: 250000
  • Professional Management Expense: 5000.00
  • Property Attached: Yes
  • Water Sewer Expenses: 1120.00
  • Zoning: LAR3
  • Property Sub Type: Commercial/Residential
  • Property Type: Residential Income
  • Parcel Number: 5081025007
  • Year Built: 1964
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: 1
  • Common Walls: 1 Common Wall
  • Entry Level: 2
  • Levels: Two
  • Price Per Square Foot: 407.61

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 12.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 12.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 5000.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 6870.00
  • Lot Size Acres: 0.1577

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Sewer, Telephone

Multi Family

  • Electric Expense: 1000.00
  • Gross Income: 211200.00
  • Gross Multiplier: 17.46
  • Gross Scheduled Income: 211200.00
  • Insurance Expense: 8000.00
  • Lot Size Area: 6870.0000 Square Feet
  • Net Operating Income: 190080.00
  • Number Of Separate Electric Meters: 13
  • Number Of Separate Gas Meters: 13
  • Number Of Separate Water Meters: 13
  • Number Of Units Total: 12
  • Operating Expense: 21120.00
  • Rent Control: Yes
  • Total Expenses: 21120.00

Tax Info

  • Tax Census Tract: 2131.00
  • Tax Lot: 65
  • Tax Tract Number: 1600
  • TaxOtherAnnualAssessmentAmount: 1325.00

Map

Range of Values:

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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
06/16/2025 06/16/25 For Sale $2,999,999 -9.1% $408 / Sq Ft
01/10/2025 01/10/25 For Sale $3,300,000 +33.6% $448 / Sq Ft
03/18/2016 03/18/16 Sold $2,470,000 -2.2% $336 / Sq Ft
03/02/2016 03/02/16 Pending -- -- --
02/19/2016 02/19/16 For Sale $2,525,000 -- $343 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: GD25134258

California Regional Multiple Listing Service (CRMLS)