Property Detail

940 Gramercy

Los Angeles CA 90019

$2,495,000

Status: Active

Property Details

Description

SEE ATTACHED DOC FOR INVESTMENT DEPRECIATION AND TAX BENEFIT FOR THE NEXT BUYER. ** BRING YOUR 1031 EXCHANGE HERE. ** A DIAMOND IN THE ROUGH~~~ THIS CAN BE A CASH COW FOR THOSE WHO CAN IMAGINE. Possibly more units can be delivered VACANT AT CLOSE OF ESCROW. HUGE BEDROOMS, LARGER LIVING ROOMS. First time in the Market in 34 years!! EACH UNIT HAS IT'S OWN CENTRAL A/C. This subject property is a two-story 8-unit apartment building constructed in 1965 with classical and Modern touch architecture situated on a Hard Corner Lot. The rents are significantly below market. The property could also generate additional income potential using the ADU process to add dwellings (buyer to verify). The landlord pays for trash service, but there are separate gas and electric meters for each unit, which the tenants pay for. The property is located within few minutes to Larchmont Village, Restaurants, and Markets, which is a quiet residential neighborhood. Also, provides convenient access to the 10 freeway, Mid-Wilshire, Koreatown, Downtown LA, USC, and has a walk score of 82 (Very Walkable). This offering provides huge upside in future income with stability of current income as it is 100% leased with all tenants paying their full rent on time. One 2 bedroom 1 bathroom unit can be delivered vacant at COE. VERY WELL-MAINTAINED BUILDING, RETROFITTING IS DONE. WELL GATED, QUIET STREET. COIN-OPERATED LAUNDRY FACILITY. BUYER TO VERIFY ALL FACTS.

Map Location

Listing provided courtesy of Max Lee of Real Broker. Last updated 2025-12-16 09:11:19.000000. Listing information © 2025 CRMLS.

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Whether it's your first townhouse, vacation property or coastal dream home, I will work to find the property that's best for you. I am able to anticipate and fulfill each of my clients needs, in order to find the perfect home for them and their family. I am here to work with you, to find the best fit for you, and am excited for the opportunity.

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"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

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"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

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