940 S Gramercy Place, Los Angeles, CA 90019

• 6,412 sqft

Property Description

SEE ATTACHED DOC FOR INVESTMENT DEPRECIATION AND TAX BENEFIT FOR THE NEXT BUYER. ** BRING YOUR 1031 EXCHANGE HERE. ** A DIAMOND IN THE ROUGH~~~ THIS CAN BE A CASH COW FOR THOSE WHO CAN IMAGINE. Possibly more units can be delivered VACANT AT CLOSE OF ESCROW. HUGE BEDROOMS, LARGER LIVING ROOMS. First time in the Market in 34 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

Listing Status:

Active

Date Added:

November 11, 2025 at 06:00AM

Listing Office:

Real Broker : 619-663-8680

Listing Agent:

Max Lee : 213-434-2433

MLS ID:

CL25617665

Exterior

• Parking: Assigned

Location

• Originating MLS: CRMLS
• County: Los Angeles

Lot

• Zoning: LAR35081032001

Financial

• Source: CRMLS

This listing courtesy of Max Lee, Real Broker