749 Gramercy Drive

    Los Angeles (City), CA 90005
    • $4,230,000
    • STATUS: Active
    • ON SITE: 139 days
    • ID#: 20543436
    UPDATED: 42 min ago
    $4,230,000
    • 0
      BEDS
    • 0.3
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2020
    County:

    School Ratings & Info

    Description

    BUY AND BUILD!** 743-749 Gramercy Dr, LA 90005. RARE development opportunity in the PRIME KOREATOWN submarket of Los Angeles, delivered 100% un-occupied and fully RTI for 47 units by approximately April 2020. CORNER DOUBLE LOT with 13,108 SQFT zoned R4-1 and TOC TIER 3. Submitted design calls for a 47 Unit luxury apartment building located within immediate walking distance of major amenities in the main Koreatown business center 0.5 miles from the subject. Also located within 0.4 miles (10 min walking distance) of the main METRO station at Wilshire and Western with immediate access to Downtown Los Angeles. The sales packet includes fully stamped and approved Architectural, Structural, landscape, LID and shoring plans, plus approved Soil Report, Survey, and all other pertinent docs and plans as required by the City of Los Angeles LADBS for an RTI approval. WALK SCORE 91. All units with Washer/Dryer and balconies. 5 units Affordable.(**NOTE** RTI does not include building permits).

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-06-01T18:28:30.01. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.

    www.teamforss.com/homes/102269051

    749 Gramercy Drive Los Angeles (City), CA 90005

    • Price: $4,230,000
    • Status: Active
    • Updated: 42 min ago
    • ID#: 20543436
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.3
    Acres
    2020
    Built
    Neighborhood:
    HPK - Hancock Park
    County:
    Los Angeles
    Area:
    HPK - Hancock Park
    Property Description
    BUY AND BUILD!** 743-749 Gramercy Dr, LA 90005. RARE development opportunity in the PRIME KOREATOWN submarket of Los Angeles, delivered 100% un-occupied and fully RTI for 47 units by approximately April 2020. CORNER DOUBLE LOT with 13,108 SQFT zoned R4-1 and TOC TIER 3. Submitted design calls for a 47 Unit luxury apartment building located within immediate walking distance of major amenities in the main Koreatown business center 0.5 miles from the subject. Also located within 0.4 miles (10 min walking distance) of the main METRO station at Wilshire and Western with immediate access to Downtown Los Angeles. The sales packet includes fully stamped and approved Architectural, Structural, landscape, LID and shoring plans, plus approved Soil Report, Survey, and all other pertinent docs and plans as required by the City of Los Angeles LADBS for an RTI approval. WALK SCORE 91. All units with Washer/Dryer and balconies. 5 units Affordable.(**NOTE** RTI does not include building permits).
    Exterior Features

    Lot Size Source Assessor Lot Size Units Square Feet Parking Features Garage Parking YN Yes

    Interior Features

    Cooling None Cooling YN No Heating None Heating YN No

    Property Features

    Additional Parcels YN Yes Gross Income 1411800.00 Gross Multiplier 18.00 Gross Operating Income 1411800.00 Net Operating Income 1011800.00 Senior Community YN No Special Listing Conditions Standard Total Expenses 400000.00 Vacancy Allowance Rate 100.00 Zoning Lar4

    Listing provided courtesy of Tannaz Kamran-Rahbar of Keller Williams Rlty Brentwood


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-06-01T18:28:30.01. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.

     
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