736 Gramercy Drive, Los Angeles, CA 90005

• 6,076 sqft

Property Description

7 units in Prime Koreatown west of Western Ave in a Walker's Paradise (92 Walk Score). A true value-add opportunity with 30% upside (8%+ cap at market), the asset is incredibly well positioned for an investor to steward to new heights with upgrades, unit turnover and potential ADUs. Priced at $192k per unit and a 5.6% cap rate, the offering represents an attractive basis well below replacement cost and competitive cashflow right out of the gate. Most of the upside is concentrated across three longer-tenured units, making the upside capture more manageable. This stretch of Gramercy Dr. is quiet with low density residential and single family homes mixed with mid-sized apartment buildings. Within just a few blocks, residents can enjoy an incredible array of dining, retail and entertainment options including The Wiltern Theatre, Western Plaza and Koreatown Plaza.

Listing Status:

Active

Date Added:

October 5, 2026

Data Last Updated:

October 9, 2026 at 1:06AM

Listing Office:

CB Richard Ellis, Inc. :

Listing Agent:

Adam Peterson : 310-550-2592

MLS ID:

CL26996819

Interior

• A/C: None
• Heating: Wall Furnace

Exterior

• Parking: Other

Location

• County: Los Angeles

Lot

• Zoning: LAR45092028016