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
Courtesy of Sotheby's International Realty 310-481-6262
Listing Snapshot
Days Online
9
Last Updated
Property Type
Other
Beds
15
Square Ft.
8,431
Lot Size
0.27 Acres
Year Built
1937
MLS Number
26840475
30 Days Snapshot Of 90019
$1.42M
+5%
(avg) sold price
4
-63%
homes sold
93
+27%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
"Refrigerator", "Range/Oven"
Building
8,431 sq ft, Built in 1937, Levels: "Two Level", "Traditional"
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