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$ 2,750,000
Est. payment | /mo
8,431 SqFt
$ 2,750,000
Est. payment | /mo
8,431 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,431 sqft
Price per Sqft $326
MLS Listing ID CL26840475
HOA Y/N No
Year Built 1937
Lot Size 0.266 Acres
Acres 0.2663
Property Sub-Type Other
Property Description
Pleased to Present this great Income-Producing Multifamily Opportunity in the heart of Mid-City/West Adams adjacent to Arlington Heights in Los Angeles. Featuring two separate buildings of approx. 8431 SF on a large 11,600 SF, LAR3-Zoned lot. With Two addresses: 1805 S. Gramercy Place & 2442 W. 18th Street with one APN, this well-maintained 7-unit property offers strong in-place income with additional value-add & Development Potential. Built in 1937, Subject Property consists of a fourplex featuring four spacious 2+1 units and a separate triplex comprised of three attached townhome-style residences. The buildings showcase classic architectural character with period crown moldings, hardwood flooring throughout, abundant natural light, and updated windows throughout the property. Ownership has completed renovations to 2 of the 7 units while preserving the property's original charm. The most recent updates are the staircase on the side of the building & installation of individual Gas shut-off Valves. Six residences are equipped with in-unit washer and dryers. Individually metered for gas and electricity. Contact the listing agent for additional details. 7 Assigned parking spaces on site on a rebuilt Parking Area. The expansive lot allows the rear portion a potential for additional development, including possible ADU construction (buyer to independently verify all development possibilities, zoning requirements, and approvals with the City of Los Angeles). Ideally situated within approximately 2.5 miles of USC, Downtown Los Angeles, LA Live, Crypto.com Arena, and numerous employment, entertainment, and transportation hubs. This property presents an outstanding opportunity for investors seeking stable cash flow. One unit Vacant (currently on the Market for lease at $2850.00). This is a Straight Sale with No 1031 Exchange as long time Sellers are retiring!
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Other
Flooring Wood
Fireplace No
Building
Water Other
New Construction No
Others
Tax ID 5073018019
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Listed by Mathew Bahri • Sotheby's International Realty
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