Gramercy Place Apartments | 950 S Gramercy Pl
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Gramercy Place Apartments 950 S Gramercy Pl
31 Unit Apartment Building $5,050,000 ($162,903/Unit) 6.19% Cap Rate Los Angeles, CA 90019
Investment Highlights
- Walker's Paradise 92 WalkScore
- Well-Maintained
- 10 GRM at List Price
- Estimated 30%+ Upside
- Low PPU and PPFT
Executive Summary
The Weir Group is pleased to present our newest exclusive listing in Koreatown-Los Angeles. The property is comprised of 31 total units built in 1963, 19 of which are spacious studios and 12 of which are 1 bedroom – 1 bathroom floorplans. The property is being offered for sale at an attractive/low price-per-unit and price-per-foot and is estimated to have over 30% rental upside. Seismic Retrofit for the tuck-under parking has been completed and there are a total of 32 parking spots, which include both subterranean parking and tuck-under. The property will be delivered to a new owner with 6 vacant units which provides immediate repositioning potential. Each unit is equipped with AC, assigned parking, and other amenities. A new owner can benefit from reducing payroll cost, increasing rents, filling up the vacancy, and operating more efficiently.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,050,000 | Apartment Style | Low Rise |
| Price Per Unit | $162,903 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Cap Rate | 6.19% | Building Size | 20,042 SF |
| Gross Rent Multiplier | 10.01 | Average Occupancy | 97% |
| No. Units | 31 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Price | $5,050,000 |
| Price Per Unit | $162,903 |
| Sale Type | Investment |
| Cap Rate | 6.19% |
| Gross Rent Multiplier | 10.01 |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 20,042 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | $1,805 | 586 |
| Studios | 19 | $1,569 | 586 |
Walk Score ®
Walker's Paradise (92)
Transit Score ®
Excellent Transit (73)
PROPERTY TAXES
| Parcel Number | 5081-032-019 | Total Assessment | $2,142,075 |
| Land Assessment | $756,371 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,385,704 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5081-032-019
Land Assessment
$756,371
Improvements Assessment
$1,385,704
Total Assessment
$2,142,075
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
| Zoning Code | R4-2, Los Angeles |
| R4-2, Los Angeles |
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Gramercy Place Apartments | 950 S Gramercy Pl
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