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… Read More 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! Read Less
Property listed by Sotheby's International Realty, Mathew Bahri 310-259-7556
Listing Snapshot
Days Online
11
Last Updated
Beds
15
Square Ft.
8,431
Lot Size
0.27 Acres
Year Built
1937
MLS Number
26840475
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1937, Living area: 8431.0, 2 buildings, 2 stories, Levels: Two, Construction Materials: Stucco
Disclosures
RentControl
Fireplaces
None
Floors
Wood
Heating
Central
Income
Gross Income: $226,380, Net Operating Income: $129,013
Lot
0.2663 acres, Dimensions: 178x65
Parking
7 total parking spaces, Assigned, Uncovered
Pool
None
Taxes
Parcel Number: 5073018019, Zoning: LAR3
Windows
DoublePaneWindows
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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