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Sir Launfal 1848 N Gramercy Pl 48 Unit Apartment Building $14,719,977 CAD ($306,666 CAD/Unit) 4.07% Cap Rate Hollywood, CA 90028
INVESTMENT HIGHLIGHTS
- Prime Hollywood Location
- Value Add with Legacy Tenants and Common Area Improvements
- Leasing Demand and Rents are Stable
- Architectural Appeal w/ Recent Renovations
EXECUTIVE SUMMARY
1848 N Gramercy Pl is a 48-unit Beaux-Arts style apartment building located in the desirable Los Feliz
neighborhood of Los Angeles. Built in 1929, the property offers a mix of studios and one-bedroom
units with an average size of approximately 500 square feet. Amenities include on-site management,
elevator, controlled access, security surveillance, a landscaped courtyard, and laundry facilities.
The property presents a value-add opportunity, with potential to enhance unit interiors from legacy
tenants and common areas to further increase rental income. Located in one of the few submarkets in
Los Angeles where leasing activity remains strong and rents have stayed stable, 1848 N Gramercy Pl
benefits from consistent tenant demand and long-term growth potential.
Conveniently positioned near the Hollywood Freeway, the property offers easy access to numerous
Hollywood landmarks, exceptional restaurants, and vibrant nightlife.
Colisted with: REO Property Specialists - Matthew Mandel - 310.308.7575 and Del Rey Urban Brokerage Inc. - Scott Chaplan - 310.497.3628
neighborhood of Los Angeles. Built in 1929, the property offers a mix of studios and one-bedroom
units with an average size of approximately 500 square feet. Amenities include on-site management,
elevator, controlled access, security surveillance, a landscaped courtyard, and laundry facilities.
The property presents a value-add opportunity, with potential to enhance unit interiors from legacy
tenants and common areas to further increase rental income. Located in one of the few submarkets in
Los Angeles where leasing activity remains strong and rents have stayed stable, 1848 N Gramercy Pl
benefits from consistent tenant demand and long-term growth potential.
Conveniently positioned near the Hollywood Freeway, the property offers easy access to numerous
Hollywood landmarks, exceptional restaurants, and vibrant nightlife.
Colisted with: REO Property Specialists - Matthew Mandel - 310.308.7575 and Del Rey Urban Brokerage Inc. - Scott Chaplan - 310.497.3628
PROPERTY FACTS
| Price | $14,719,977 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $306,666 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Cap Rate | 4.07% | Building Size | 34,320 SF |
| Gross Rent Multiplier | 12.15 | Average Occupancy | 98% |
| No. Units | 48 | No. Stories | 5 |
| Property Type | Multifamily | Year Built/Renovated | 1929/2023 |
| Property Subtype | Apartment | ||
| Zoning | LAR3 - R-3 | ||
| Price | $14,719,977 CAD |
| Price Per Unit | $306,666 CAD |
| Sale Type | Investment |
| Cap Rate | 4.07% |
| Gross Rent Multiplier | 12.15 |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 34,320 SF |
| Average Occupancy | 98% |
| No. Stories | 5 |
| Year Built/Renovated | 1929/2023 |
| Zoning | LAR3 - R-3 |
AMENITIES
UNIT AMENITIES
- Microwave
- Ceiling Fans
- Refrigerator
- Oven
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 39 | - | 400 - 466 |
| 1+1 | 9 | - | 650 - 750 |
1 1
Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 5544-003-042 | Improvements Assessment | $1,312,548 CAD |
| Land Assessment | $875,021 CAD | Total Assessment | $2,187,569 CAD |
PROPERTY TAXES
Parcel Number
5544-003-042
Land Assessment
$875,021 CAD
Improvements Assessment
$1,312,548 CAD
Total Assessment
$2,187,569 CAD
CONTACTS
-
Chung
Gov
-
Mario
Hong
-
REO Property Specialists Matthew Mandel -
Brett
Daniels
-
Del Rey Urban Brokerage, Inc. Scott Chaplan
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Sir Launfal | 1848 N Gramercy Pl
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