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736 S Gramercy Dr 7 Unit Apartment Building $2,354,894 CAD ($336,413 CAD/Unit) 5.32% Cap Rate Los Angeles, CA 90005
Investment Highlights
- $100,000 Price Reduction!!! Motivated Seller!!!
- Tenants Pay Trash, Gas & Electric
- First Time on the Market in More than 10 Years
- Value-Add Opportunity - M2M Low Rents (Tenants Willing to Relocate)
- Recent Renovations including Copper Plumbing, New Water Heater, New Electrical Panel etc.
- Prime Koreatown Location with Walkability Score of 91 (Close to Wilshire/Western Metro Station)
Executive Summary
Keller Williams Commercial is proud to present a prime 7-unit multifamily investment opportunity at 736 S Gramercy Dr, ideally located in the vibrant heart of Koreatown. Just west of Western Avenue, this recently updated property features a diverse unit mix consisting of four one-bedroom units and three two-bedroom units.
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With significantly below market rents, the property offers strong value-add potential for investors seeking upside through rent repositioning. Potential proforma 8.84 GRM and 8.49% cap rate.
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Boasting a Walk Score of 91, the building is situated in one of Koreatown’s most desirable neighborhoods, within easy walking distance of popular Korean eateries, trendy cafes, and a wide array of retail destinations.
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With significantly below market rents, the property offers strong value-add potential for investors seeking upside through rent repositioning. Potential proforma 8.84 GRM and 8.49% cap rate.
.
Boasting a Walk Score of 91, the building is situated in one of Koreatown’s most desirable neighborhoods, within easy walking distance of popular Korean eateries, trendy cafes, and a wide array of retail destinations.
Property Facts
| Price | $2,354,894 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $336,413 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.32% | Building Size | 6,076 SF |
| Gross Rent Multiplier | 12.65 | Average Occupancy | 86% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1955 |
| Property Subtype | Apartment | Parking Ratio | 1.32/1,000 SF |
| Zoning | LAR4 - Residential Zero Side Yard | ||
| Price | $2,354,894 CAD |
| Price Per Unit | $336,413 CAD |
| Sale Type | Investment |
| Cap Rate | 5.32% |
| Gross Rent Multiplier | 12.65 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 6,076 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built | 1955 |
| Parking Ratio | 1.32/1,000 SF |
| Zoning | LAR4 - Residential Zero Side Yard |
Amenities
Unit Amenities
- Dishwasher
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Gated
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $2,632 CAD | 700 - 825 |
| 2+1 | 2 | $2,978 CAD | 850 - 900 |
| 2+1.5 | 1 | $3,463 CAD | 1,000 |
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Very walkable
80/100
Moderately drivable
60/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5092-028-016 | Improvements Assessment | $665,936 CAD |
| Land Assessment | $1,548,306 CAD | Total Assessment | $2,214,242 CAD |
Property Taxes
Parcel Number
5092-028-016
Land Assessment
$1,548,306 CAD
Improvements Assessment
$665,936 CAD
Total Assessment
$2,214,242 CAD
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736 S Gramercy Dr
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