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    940 S Gramercy Pl Los Angeles, CA 90019

    View on Map
    Sponsored
    For Sale
    $2,495,000

    MULTI_FAMILY - Los Angeles, CA

    Property size:
    6,412 SF
    Lot size:
    0.16 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 26 at 10:06 pm

    Property Features for 940 S Gramercy Pl

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Zoning
    LAR3
    Rooms
    Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 7, Bedroom 6, Bathroom 3, Bathroom 8, Bedroom 4, Bedroom 9, Bedroom 8, Bathroom 2, Bedroom 10, Bedroom 2, Bedroom 3, Bathroom 6, Bathroom 4, Bathroom 5, Bedroom 7
    Bedrooms
    10
    Bathrooms
    8
    APN
    5081-032-001
    Parking
    13
    Parking features
    Assigned
    Size
    6,412 SF
    Lot size
    0.16 Acres

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1965
    Floors in Building
    1
    Number of units
    8

    We can help!

    Listing Contact
    Max Lee
    Max Lee

    Real Brokerage Technologies, Inc.

    Listing agent Max Lee License #01905008

    Listing date Mar 26, 2026

    MLS# 26669975

    Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Los Angeles Multifamily Investment Opportunity

    This two-story, eight-unit apartment building, constructed in 1965, features classical and modern architectural touches and is situated on a hard corner lot. Each unit is equipped with its own central air conditioning. The property includes a coin-operated laundry facility. Located within minutes of Larchmont Village, restaurants, and markets in a quiet residential neighborhood, it also offers convenient access to the 10 freeway, Mid-Wilshire, Koreatown, Downtown LA, and USC. The property has a walk score of 82, indicating it is very walkable. The landlord is responsible for trash service, while tenants are billed separately for gas and electric. The property is 100% leased, with all tenants currently paying their rent on time, and offers significant potential for increased future income. One 2-bedroom, 1-bathroom unit can be delivered vacant at the close of escrow. The building is well-maintained and retrofitting has been completed. The property is well-gated and located on a quiet street. The property could also generate additional income potential using the ADU process to add dwellings. The property is located on a 0.1579-acre lot and the building size is 6,412 square feet. The property is zoned LAR3.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    1031 exchange properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Los Angeles
    County
    Los Angeles
    State
    California
    Longitude
    -118.312896
    Latitude
    34.054291

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    FAQs

    What type of property is this?
    Apartment building - Eight-unit apartment building with significant income upside potential.
    Where is this apartment building located?
    The property is located at 940 S Gramercy Pl Los Angeles, CA.
    What is the asking price?
    The asking price for this property is $2,495,000.
    (213) 434-2433
    Request Owner's contact information
    940 S Gramercy Pl Los Angeles, CA 90019
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    Los Angeles, CA 90019
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    940 S Gramercy Pl Los Angeles, CA 90019
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    We can help!
    Listing Contact
    Max Lee
    Max Lee
    Real Estate License ID: 01905008
    Learn More
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