ON THE MARKET IN 33 YEARS!! 8 UNITS!! 940 S Gramercy Pl

WITH NEW LOWERED INTERESTS AND LOWERED PRICING, A LOT MORE BUYERS ARE IN THE MARKET TO INVEST. HUGE BEDROOMS, LARGER LIVING ROOMS. First time in the Market in 33 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, THERE ARE NO RUSTED PLUMBING PIPES IN THE GARAGE. RETROFITTING IS DONE. WELL GATED, QUIET STREET. COIN-OPERATED LAUNDRY FACILITY. THERE IS NO ONE CRACK IN THIS BUILDING.
Do not disturb the tenants. 1 unit (2 bedroom 1 bathroom) will be delivered vacant at COE. Offer subject to inspection. CENTRAL A/C HAS NOT BEEN IN USE FOR SOME TIME DUE TO ENERGY-SAVING MEASURES. VERY WELL MAINTAINED BUILDING, THERE ARE NO RUSTED PLUMBING PIPES IN THE GARAGE. RETROFITTING IS DONE. BUYER/BUYER'S AGENT TO VERIFY ALL FACTS TO SATISFY ON THEIR OWN.